Could somebody please explain this article in the Toronto Star about Transamerica overcharging?
Link: http://www.thestar.com/columnists/article/281565
2007-12-01 14:14:49 · 2 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
It looks like Transamerica was cheating its clients and charging excessive fees. Even charging fees higher than they were allowed to charge according to the contracts with the customers.
Insurance companies have pools of investments, sort of like mutual funds. These funds have portfolio managers, and so there are some expenses involved. But transamerica was charging excessive fees to its policy holders and/or investors, so they didn't get the full value of gains or profits, or even lost.
One fund, whose purpose was to mimic the Standard & Poors 500, couldn't even keep up with the S & P 500. How lame can you get?
Moral of the story: don't trust insurance companies.
2007-12-01 14:32:00 · answer #1 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
why could you opt for an editorial approximately this in any respect? nicely, i don't have an editorial yet I even have some motives: -in case you do not circulate into bizarre golf equipment -in case you do not positioned countless very own records -in case you do not upload human beings you do not understand on your checklist of direction that's ok!
2016-10-10 01:07:36 · answer #2 · answered by ? 4 · 0⤊ 0⤋