Variable Rate Annuities Arbitration
Zamansky LLC helps investors recover losses who were victimized by brokers who sold their customers unsuitable variable rate annuities. We have filed claims against many Wall Street and insurance firms involving the sale of unsuitable variable rate annuities.
Variable rate annuities are usually broken down into two broad categories: immediate and tax-deferred annuities. With an immediate annuity, you make a lump-sum deposit and the insurance company guarantees an immediate monthly payment until your death. The monthly amount is based on your life expectancy. This is the type of payout option that most states offer for lottery winnings.
With a tax-deferred annuity, you invest your money and watch it grow tax-deferred until you decide to take out your money. A tax-deferred annuity can have a fixed rate, or it can be a variable product with sub-accounts.
Last year, the SEC issued guidance to ensure that Wall Street and other financial services firms only market variable rate annuities to customers that had a suitable risk tolerance. Yet clearly brokers and financial advisors ignored this and went ahead and sold these products to many retirees and other investors who relied on their investments to support their lifestyles.
Zamansky LLC offers free consultations to investors who have experienced losses or potentially fraudulent treatment with regard to variable rate annuities.Get Your Free Consultation Now