Financial Annuities are long term investments that often do not allow withdrawals for 15 years or more and can carry exorbitant fees for early withdrawal. Additionally, contracts for financial annuities are written to be purposefully confusing making it easy for financial professionals or agents to gloss over the technical details of the various fees and charges.
Unfortunately, financial annuities are more and more commonly being sold to seniors and the elderly 65 years old and older. Even though, long term investments, such as financial annuities, are not typically considered a suitable option for elder adults, who may need immediate access to their money for medical care or other emergencies. Sadly, in many cases payouts or withdrawals are not allowed until after the annuitants life expectancy.
Ingrid Evans and Waters & Kraus are dedicated to helping victims of financial annuity fraud through class action lawsuits brought against the various financial institutions, such as insurance companies and banks, that fraudulently sell long term investments, like financial annuities, to senior and elder adults.
What Can You Tell Me About The Sterling Select Deferred Annuity Product?