A complaint filed with the California Superior Court alleges that the Defendant Jackson National Life Insurance Company has engaged in unfair, deceptive, and unlawful business practices that target and harm senior citizens. Among other things, the Complaint alleges that Jackson National annuity products contain substantial undisclosed commissions that adversely affect the annuities’ values and performance; that the annuity products further contain excessive undisclosed surrender charges and other penalties; that the products expose seniors to significant market and credit risk that may result in the loss of principle; and that Jackson National deferred annuities products contain long surrender periods and high surrender charges that are not disclosed as they should be by California law.
This case is ongoing. The putative class action nature of this suit means that thousands of elders and individuals who purchased deferred annuities from Jackson National Insurance Company in California and across the nation could potentially be affected by the outcome. If you live in California and want to talk to a lawyer about these or other issues related to elder financial abuse or deferred annuities, contact The Evans Law Firm by email at email@example.com or call at 888-503-8267.