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I am investigating a possible annuity fraud/abuse matter for an associate that is dealing with Genworth Life Insurance Company, VA. She is an elderly woman, 68 years of age. <br> <br> Here is the scenario:<br> <br> Ms. XXX has an annuity contract (inheritance) established from her now deceased father through Genworth Life. <br> <br> Payment schedule is:<br> <br> Total: $40,000<br> Payment disbursement to her is $400 a month est. from 2007 to 2017.<br> She wants to cash it out.<br> She called Genworth who connected her with R.C. Henderson Trust who contacted her and adamantly presented her with a buyout option of est., $21,000 cash receivement / $18,000 penalty payout.<br> <br> Acknowledgement of absolute Assignment of Payments sent to her from JG Wentworth, PA., <br> <br> From the documents sent to her to sign;<br> <br> Annuity Contract #### - Notice of Absolute Assignment of Payments<br> The (intended) Assignment would be the result of an agreement between herself and 321 Henderson Receivable Origination LLC who sold and/or contributed its interest to R.C. Henderson LLC and to be placed in trust to record owner R.C. Henderson Trust.<br> <br> There is also a document for;<br> Annuity Contract #### - Notice of Change of Payee and Beneficiary stating the same as above.<br> <br> Basically the document sent to her to sign is to release the annuity funds from being paid to her and transferred over to R.C. Henderson LLC.<br> <br> In the packet of documents sent to her to sign, there is nothing that states she will receive from RC Trust the buyout payment of $21,000.<br> <br> She was sent documents in a separate occasion stating that she would receive the $21,000 but they have not asked her to sign any of those documents nor were they signed and made official by them.<br> <br> Unsure inquiries:<br> <br> 1) The $40,000 less $18,000 (for penalties and fees) is est. @ 45%. Is that a fair amount?<br> <br> 2) Would not the current annuity contract holder be able to directly pay her out? They have not offered nor has she inquired as of yet.<br> <br> Pls advise or direct us/email to a party that may assist.<br> <br> Thank you in advance,<br> <br> Hata Jaictin<br> <br> <br> <br> <br> <br> <br> <br> --------------------------------------------------------------------------------<br> Gas prices getting you down? Search AOL Autos for fuel-efficient used cars.
By Hata
