The state Securities Enforcement Branch is looking into postcards being mailed by an Ohio-based company to local residents that alert them to a supposed expiration of annuities.

Patricia Moy, senior enforcement attorney for the unit, said her office has received several inquiries from people asking about the company, Annuity Service Center. She said the calls prompted the state to start taking a look at the company and its parent firm, Investors Union LLC of Medina, Ohio.

"There are some questionable practices going on that are piquing our interest and we're going to be looking into it," Moy said.

The postcards have been mailed to people here in recent weeks and include a salutation that begins "Dear Annuity Holder."

"This notice is to inform you that you may have an annuity that has reached the end of its surrender period," the postcard continues. It asks people to dial a toll-free number to discuss their options.

Moy said people who have telephoned her office include people who don't have annuities and are suspicious about the offer. She said in one case a consumer called the number and discovered the company didn't have specific information about an annuity.

Investors Union did not immediately return a call and e-mail requesting comment yesterday.

But the Better Business Bureau of Akron, Ohio, lists Investors Union as having an unsatisfactory record due to its pattern of complaints.

The bureau's Web site says information supplied by the company indicates it is a licensed insurance agency that provides marketing services to agents throughout the nation.

It said the company contacts individuals they believe to be long-time holders of annuities to offer a review of the contracts with an agent located in their area.

Moy said people who have questions or problems with securities sellers should call her office at (877) HI-SCAMS to check out the advisers.

Reach Greg Wiles at gwiles@honoluluadvertiser.com.