Practice Area
Variable Annuity Fraud Attorneys
Variable annuities are among the most abused products in the financial industry. High commissions drive brokers to sell them to investors for whom they are entirely unsuitable — often seniors who can least afford the consequences.
Call 888-741-7503The Problem
Why Variable Annuities Are So Often Abused
Variable annuities pay brokers among the highest commissions of any investment product — often 5-8% upfront. That creates a powerful incentive to sell them even when they are completely wrong for the client.
The product itself is complex — combining insurance and investment features with multiple layers of fees. Annual expenses of 3-4% are common. Surrender charges can trap investors for 7-10 years, preventing them from accessing their own money without penalty.
The most common victims are senior investors who are sold variable annuities inside tax-advantaged accounts like IRAs — where the tax-deferral benefit the annuity supposedly provides is completely redundant and the investor receives nothing in return for the excessive fees.
You May Have A Claim If
- Your annuity was purchased inside an IRA or other tax-advantaged account
- You were not told about the surrender charges before you invested
- The annual fees were not fully disclosed
- You needed access to the money but were trapped by surrender charges
- The annuity was switched from a previous annuity within the past few years
- You are over 65 and were sold a long surrender period annuity
- The returns have not come close to covering the fees
We review your annuity contract and account records for free. If you have a claim we will tell you.
Call 888-741-7503