Variable Annuities are a form of mutual fund investment with a life insurance component that is quite lucrative for the broker/insurer because of high upfront commissions, ongoing trail commissions, as well as high maintenance costs.
Annuities in most cases are not readily liquid and have high surrender fees if one needs access to their money. The withdrawal of money may cause substantial taxes and penalties.
Your Broker May Be Liable For Misrepresentation Or Omission Of Variable Annuities
Often investors are urged to purchase annuities because of the high commissions and fees, which are not necessarily apparent to the average investor. Many times the investors are not informed of the negative aspects of this investment. In appropriate cases, the broker may be liable for misrepresentation or omission in the sale of this instrument.
To help us evaluate whether you have a claim regarding the sale of "Variable Annuities", call The Bernstein Law Firm, at (858) 505-8000, or contact us for a free initial consultation with a Miami lawyer.