Mark & Associates, P.C. Attorneys At Law

Are You a Victim of Variable Annuity Fraud? You May Have Rights

If you or a loved one has invested in a variable annuity, you may have been the victim of investment fraud. Many investors are sold a variable annuity by unscrupulous securities brokers who fail to discuss the high risks associated with the investments. Senior citizens planning for retirement and other investors have been shocked to find the savings, college funds, and other money they stocked away in a variable annuity have disappeared in today's turbulent economic times.

At Mark & Associates, P.C. we are dedicated to helping investors who have been victims of fraud in the solicitation or sale of variable annuities. If a broker failed to discuss with you the risks of variable annuities or if the type of investment was unsuitable for you given your age, financial situation, and other factors, you may be able to recover your financial losses. Contact Mark & Associates, P.C. today at 1-866-50-RIGHTS (1-866-507-4448) and schedule a free, confidential initial consultation.

What is a Variable Annuity?

A variable annuity is essentially a type of mutual fund that is made part of a life insurance policy or individual retirement account (IRA). An investor makes one lump payment or a series of payments to an insurance company or other financial institution and in return receives periodic payments. The earnings from variable annuities are taxed deferred and they are sold as safe, long-term investments. However, brokers who are eager to earn high commissions for variable annuities may engage in fraudulent, dishonest, and deceptive tactics in the sale of the securities to make the sale.

Are You a Victim of Variable Annuity Fraud?

Before you invest in a variable annuity, your broker is required to advise you of the risks and document your age, marital status, occupation, financial and tax status, investment objectives, and risk tolerance to assess whether the investment is suitable for you. If your broker has either failed to collect this information or sold you a variable annuity when the factors indicate you are not a good candidate for the investment, then you may have a case for fraud in the sale of the security.

Senior citizens are frequently targeted by unscrupulous brokers, who may fail to disclose the inherent risks of variable annuities in an effort to make the sale. Many investors are promised that the annuity's principal is "guaranteed." However, the guarantee only occurs in the event of the investor's death when the principal is returned pursuant to the life insurance contract provisions.

If the purchaser is over age 70, has a need for immediate income, and does not have any need for insurance, a variable annuity is seldom a good investment.

Get Free Variable Annuity Legal Advice

If you or a loved one purchased a variable annuity, you may have been cheated out of thousands of dollars. Contact Mark & Associates, P.C today to have an experienced investment fraud attorney evaluate your possible case. We can fight to get your money back and there are no up-front legal fees. We only charge legal fees if we recover money for you. To receive a free, no obligation, variable annuity case evaluation, please complete the submission form on this page or call 1-866-50-RIGHTS (1-866-507-4448).