We were surprised recently to find that Vanguard had taken down its product information for the Vanguard Lifetime Income Program, the firm’s income annuity. A brief message refers visitors to a dedicated customer service telephone line, in place of an extensive product section with key features, investment options, FAQs and other information. In fact, we had commended Vanguard with a Gold Monitor in our 2007 Annuity Monitor Awards for its product details, information kit and actionable instant quote tool.

As we discovered from Vanguard telephone customer service, the annuity’s underwriters were subsidiaries of AIG that may be sold off in the near future. As such, the firm wasn’t comfortable providing the same level of detail and personalized quotes online. However, the rep we spoke to was well prepared to answer our questions and run quotes for prospects in place of the online tool. Apparently, Vanguard will be relying on its workforce rather than the website to deliver product information and legal disclosures while the situation with AIG resolves itself.

Clearly, we don’t feel that telephone assistance can be a long-term replacement for online resources. Some services can be replicated over the phone, even enhanced with a friendly, helpful customer service rep. But telephone is just too 20th century, unable to match the convenience and accessibility of the Internet.