Getting Out of MasterDex During Free-Look Period

Q: I hope I didn't change my mind too late.

Just read your information on the Masterdex 10. I had already decided it was not for me before reading your info. An advisor convinced me that this plan was a good thing. Got down to the point that I received the contract packet to review and sign. Then I realized what I would lose if I took the full cash value at 5 or 10 years.

I did not... sign it, and returned it to the Allianz home office in Minnesota with a cover letter saying that after review, I determined that "the plan does not suit my needs and am requesting a full refund as provided for in their 20 day right to examine policy." Did I stop the process in time or do I have a battle ahead?

A: I would call Allianz and make sure that they note that you were surrendering the policy during the free-look period. You may also want to contact the agent in writing (or by email). Be sure to instruct them what to do with the funds.

I want to congratulate you on taking the time to do your research. Regardless of the advisor or product you use, it's important that you be fully informed before making a decision.

Your posted comments on this and other questions are welcome.
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