A report released by the Financial Conduct Authority in February 2014 said that the deferred annuities market is messy and that customers are not getting the deals that they deserve.
Deferred annuities are a type of investment popular with seniors and elders. Athene USA, known more as Aviva USA, is one of the major sellers of deferred annuities. However, deferred annuities are usually not right for seniors and elders because they have a long surrender period with a high surrender fee and can become very expensive. Seniors and elders should be careful when purchasing a deferred annuity and make sure they thoroughly understand what a deferred annuity is, what type of deferred annuity they’re purchasing, etc. Seniors and elders should consult someone they trust when considering the purchase of deferred annuities, but should also keep in mind that, in general, they are not right for seniors and elders.
In 2014, the government put a cap on the sale of deferred annuities. This cut to the deferred annuities market has prompted a possible merger of Athene USA, formerly Aviva USA, with Friends Life.
Evans Law Firm, Inc. handles physical and financial elder abuse cases, personal injury cases, banking/insurance fraud, consumer class action fraud, and whistleblower litigation. If you or someone you know has an annuity sold by Athene USA/Aviva USA and would like a free and confidential legal consultation of it, you may contact the Evans Law Firm, Inc. at 415-441-8669 or firstname.lastname@example.org.