General Question

truecomedian's avatar

My parents opened an annuity trust with a company called Old Mutual, have you heard of them?

Asked by truecomedian (3932points) November 14th, 2010

My parents set up a five year annuity trust for their retirement, as a way to protect there money for awhile and gain interest. This company has been saying the check is in the mail for weeks, and it should have come more than a week ago. This company is not FDIC insured, and we’re all very concerned the check isn’t coming. Maybe there is some info somewhere about this happening to other people. Any help would be greatly appreciated.

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6 Answers

chyna's avatar

I googled the name and came up with about 2 million results. Old Mutul Funds, Old Mutual Insurance, etc. You may want to have the complete name and look it up.

john65pennington's avatar

The only one i have located so far, is in Kenya, South Africa. still looking…................

flutherother's avatar

It sounds as though your parents’ investment is with a subsidiary of this company If it is I wouldn’t worry too much as they appear to be respectable and financially sound.

BarnacleBill's avatar

Could it be that the company is missing some key information for processing the check? If your parents purchased the annuity through a brokerage or investment service, try working it backwards through them. It might be more expedient to ask them to send the money by electric funds transfer directly to the bank.

Annuities web page

truecomedian's avatar

@chyna
It’s the link that flutherother has posted
@BarnacleBill
That’s very solid, sound advice, suggests some superior intellect in there.
I hate to complement people openly on here because I feel like it’s shining a spotlight on them that they might not want, paranoid or overconsiderate??

Need more info. keep it coming, need to get to some conclusion with this one.

YARNLADY's avatar

Contact the company with the account number and other pertinent information and ask for a full accounting.

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