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Nov 10, 2017 by |

California Life Insurance and Annuities Attorney: Security Benefit


 Security Benefit Total Value Annuities (TVAs)

The annuity attorneys at Evans Law Firm Inc. have experience representing clients who have suffered losses on all types of annuity contracts, including indexed annuities. Indexed annuities are hybrid annuities that offer both a minimum fixed rate of interest and an interest rate tied to the movement of a market index. Guggenheim Partners through its subsidiary Security Benefit issues indexed annuities, and the Evans Law Firm annuity attorneys want to share some observations on surrender charges and other provisions under those complex products.  If you or a loved one is a California resident who purchased a Security Benefit Total Value Annuity in the last four years call the annuity lawyers today at Evans Law Firm, Inc. (415) 441-8669 for a free evaluation of your particular policy.

 Surrender Charges and Results

Guggenheim Partners and Security Benefit sell Security Benefit’s Total Value Annuities with two interest crediting options: The Transparent Value Blended Index Account (TVBI) and the Annuity Linked TVI Index Account (ALTVI). The TVBI and ALTVI products carry surrender charges on withdrawals during the first ten years of the policy.  For the first five years the surrender penalty is 10% or higher. There are also other fees and charges on these index accounts during that period.  If you purchased a Security Benefit TVBI or ALTVI annuity in California within the last four years, call Evans Law Firm Inc. today at 415-441-8669 for a free review of your particular policy.

These Security Benefit products are complex and fees and charges may erode returns. Salesmen may present only theoretical illustrations of returns.  Remember that these products are essentially illiquid for long periods – up to ten years.  Sales commissions are paid out up front, however. Spreads and other charges may increase over the life of the policy so that actual returns may be less than advertised. 

Contact Us

If you or a loved one purchased a Guggenheim Partners/Security Benefit TVBI or ALTVI annuity within the last four years, contact the Evans Law Firm for a free evaluation of your policy at (415) 441-8669, or by email at <a href=””></a>. Our attorneys have experience with complex financial contracts including life insurance and annuity contracts. We can help guide any litigation through a jury trial or toward an equitable settlement.  We also handle cases involving physical and financial elder abuse, qui tam and whistleblower law, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.

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