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Midland Deferred Annuity Sales

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Midland Deferred Annuity Sales

A lawsuit was brought and previously settled against Midland National Life Insurance Company (Midland), as part of the Sammons Annuity Group division.  The complaint alleged that Midland imposed surrender charges and other penalties on senior consumers and failed to disclose certain important information in the course of marketing and selling their deferred annuity products.

According to the allegations in the lawsuit against Midland, the defendant failed to disclose to purchasers material to senior consumers, including, but not limited to, the products’ high surrender charges; and that the interest credited over the term of these annuities is improperly lowered to recoup high commissions paid to their sales agents and any promised premium bonus.  Certain Midland deferred annuity products included in the previous class included:

APP 10
APP 16
Bonus 5
Bonus 10
Bonus 11
Capstone 7 yr
Capstone 10 yr
Capstone 14 yr
Direct 10
Direct 16
Direct Bonus
Direct Flex
Direct Guarantee
Direct Guarantee Plus
FourSeason 14 yr
Guarantee Bonus 15
Guarantee Nine
Innovator 7 yr
Innovator 10 yr
Innovator 14 yr
Legacy 10
Legacy Bonus 5
Legacy Bonus 11
Legacy Select
Mainstreet 4 yr
MNL 5
MNL 6
MNL 10
MNL Flex I
MNL Flex I-ROP
MNL Flex II
MNL Flex II-ROP
MNL Flex III
MNL Flex III-ROP
MNL Leader
MNL Legacy
MNL Select 6 yr 5% PF
MNL Select 6 yr 10% PF
MNL Select 8 yr 5% PF
MNL Select 10 yr 10% PF
MNl Select 14 yr 5% PF
Paragon 7 yr
Paragon 10 yr
Paragon 14 yr
Paragon Plus 7 yr
Paragon Plus 10 yr
Paragon Plus 14 yr
Veridian
Veridian 7
Veridian Bonus 10
Veridian Plus
Veridian Power 5
Veridian Power 7
Veridian Power 10
Veridian Preferred 5
Veridian Preferred 7
Veridian Select

If you or a family member was sold a deferred annuity from Midland Life Insurance Company (Midland), and would like one of our lawyers to looks at it for a free and confidential review, please contact the Evans Law Firm.

For Additional Information On Our Deferred Annuity Sales Fraud Cases
E-mail info@evanslaw.com, or call toll free (888)503-8267 or locally at (415) 441-8669

DEFERRED ANNUITY SALES TO SENIORS – MIDLAND LIFE INSURANCE COMPANY (MIDLAND) – SUBSIDIARY OF SAMMONS FINANCIAL GROUP

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