Variable Annuity Rider Recovery

Did you know that many variable annuities [VA] are sold with additional charges for the variable annuity riders?  These riders often have names like Guaranteed Minimum Income Benefits {GMIB), Guaranteed Annual Withdrawal Benefits (GAW), and there are  a multitude of names and acronyms for the other riders.  Most of these riders purport to provided additional guaranteed benefits to the financial services customer.  However, these benefits are often illusory, as these riders and guarantees only apply to the accumulated values of the VA, and not the current values.  These riders all come with significant additional annual fees, and the recommendation to purchase these riders may be unsuitable in light of the customer’s retirement investment objectives and the preservation of a customer’s capital.  Often the financial adviser recommends the purchase of a variable annuity in part because these products pay the highest commissions to the financial adviser.

Do you feel you were wrongfully advised by a financial adviser to purchase a variable annuity with expensive riders? Contact our office as you may be eligible to recover some or all of the losses arising from the improper recommendation of the purchase of a variable annuity with expensive riders.

Contact us for a FREE consultation to see if we can assist you in recovering losses arising from the improper recommendation of a variable annuity with riders by your financial advisor.