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Farm Bureau Annuities

Christi of Boulder, MT June 16, 2009

I cared for an elderly neighbor at the end of his life. Helping him get his affairs in order, we made funeral arrangements, and were preparing a will. He had very little, just a few personal items, but he had 3 small annuities.I drove him to see the insurance agent he purchased the annuities through; he wanted to know if there would be "anything left in them" when he died.

The agent, without hesitation, replied that the annuities ended at the time of death; there would be nothing to leave anyone. At that point, then, my neighbor felt there would be no need for a will. He gave his few treasures to folks he wanted them to go to, made me co-owner of his bank account, and asked me to see to any unpaid bills upon his passing. I have done this, and continue to do so. I was his medical POA and Statuatory POA.

Now, it seems, there is in fact, a payout from the annuities. The insurance company requested I fill out the paperwork necessary to finalize their accounting with my neighbor, and then notified me that the money would be given to the state.

Aside from the fact that I felt very "used" by the agent, my neighbor was not given complete and true information regarding his funds. He was denied control of (end of life) decisions that were his to make, and 3 people will not be receiving what should be theirs to receive.

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