CONTACT

Katie Carrol - Director of Communications
Better Business Bureau of Southern Colorado
Telephone: 719/636-5076 Ext. 118
Fax: 719/636-5078
Email: katiec@bbbsc.org

(Colorado Springs, CO, July 29, 2005) - An organization called the Annuity Service Center is creating confusion and havoc for seniors. The Better Business Bureau of Southern Colorado is warning the public, especially senior citizens, to watch out for a misleading direct mail piece, which is sent out by the Annuity Service Center. The hope is that the recipient will return the postcard with the requested information filled out.

The tactic the company uses is to tell the recipient they may have an annuity that has reached the end of its surrender period. What’s really going on is the Annuity Service Center is attempting to get prospects for financial advisors.

This company has an unsatisfactory rating with the BBB due to unanswered complaints and their questionable solicitations.

The BBB, as well as an attorney specializing in elder law, recommends the following:

• Always investigate an organization thoroughly before handing over any money.
• Annuities are not necessarily the best option for seniors because they tend to need more liquid assets.
• Keep detailed and concise records of where your investments are housed.