AEGON - hidden costs

THE NETHERLANDS, Feb. 23
Since the 1990s, AEGON N.V., The Hague, The Netherlands, signed over 100.000 saving contracts with Dutch families. The savings product, called Koersplan, promised at least 11% annual growth. As the savings contracts start to expire now after 12 years, clients find out that the overall interest is far lower than expected. In fact, total returns are even less than the amount paid. Although Aegon refers to weak stock markets, the real cause is a hidden life insurance. Customers were not informed and did not know about it. The "costs" of the insurance are over 25% of the amount paid. Future will tell if Aegon will survive massive fund withdrawal and the thoudands of claims and court cases that are expected.
We trust that Aegon UK, Edinburgh will inform it's customers about hidden "costs".
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