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Zamansky LLC Announces It Is Investigating Sales Practices Concerning Guaranteed Income Riders To Variable Annuities

June 20, 2013 Blog

Zamansky LLC announces that it is investigating sales practices of Guaranteed Income or Lifetime Income Riders or Supplements to variable annuity policies.

Zamansky LLC announces that it is investigating sales practices of Guaranteed Income or Lifetime Income Riders or Supplements to variable annuity policies. In an investor publication on its website entitled, “Variable Annuities: What You Should Know,” the SEC states that “one common feature, the guaranteed minimum income benefit, guarantees a particular minimum level of annuity payments, even if you do not have enough money in your account (perhaps because of investment losses) to support that level of payments. The SEC also states that “you will pay for each benefit provided by your variable annuity.”

The investigation concerns sales of variable annuities with guaranteed income benefits, and whether the fees, risks and limits of these provisions were adequately disclosed. According to Jake Zamansky, “investors should be careful that they are not misled and that they fully understand the limits of any guaranteed income benefits.” “The idea of guaranteed income can be attractive to an investor, and investors should know the cost they are paying for such a benefit and understand whether it is worth paying,” Zamansky states.

What Investors Can Do

If you purchased a variable annuity and have unforeseen losses or fees, and would like to have your account reviewed or discuss your legal rights, you may, without obligation or cost to you, email jake@zamansky.com or call the law firm at (212) 742-1414.

About Zamansky LLC

Zamansky LLC is one of the leading law firms specializing in securities fraud, FINRA arbitration and class action litigation. Our FINRA attorneys represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.

Contacts

Zamansky LLC, LLC
50 Broadway – 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414
www.zamansky.com

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