American Equity Investment Life Holding Company is among several companies that sold deferred annuities to California senior citizens. Lawsuits allege that deferred annuities may not be the best investment for seniors for several reasons. When a senior invests in a deferred annuity, it is likely that the senior will not be able to gain access to the money invested without first paying an exorbitant fee if the money is required before the policy matures. Another consideration is that such deferred annuity policies require that the investor wait from ten to twenty years before realizing gains on their investments. In many cases, the policy outlives the policyholder.
American Equity Investment Life Holding Company also sold senior investors equity-indexed annuities, which are tied to stock market performance. Such investments are in a high-risk category for seniors because the stock market is often unpredictable and volatile. Seniors allegedly stand to lose a large portion of their equity indexed annuity investments if the stock market performs badly.
If you have invested in an American Equity Investment Life Holding Company’s deferred annuity or equity indexed annuity policies and are a senior citizen residing in California, contact an experienced attorney. The Evans Law Firm litigates on behalf of seniors in California who have purchase deferred annuities or equity-indexed annuities.
www.evanslaw.com San Francisco, CA
The Evans Law Firm handles elder abuse (physical and financial), consumer fraud class actions involving particularly insurance and banking fraud claims, consumer product liability and personal injury/wrongful death cases, asbestos-mesothelioma, pharmaceutical product liability, negligence personal injury claims, as well as Qui Tam (whistleblower/false claims), IRS tax fraud lawsuits, securities fraud whistleblower reward lawsuits, retaliation and employment litigation.