Alabama seniors, in particular, are facing a danger of misleading statements about annuities. Annuities are contracts where an insurance company promises to make regular payments to you in exchange for premiums that you pay. Sometimes the time period of getting paid is a fixed number of years (i.e. “$2,000 per month for ten years”) and sometimes its as long as you live.
Here is the problem: there are unscrupulous agents who will use unfair pressure and lies to convince Alabama consumers (mainly seniors) to buy products that are more risky that promised or otherwise inappropriate.
Click here to read the warnings issued by the NASD on investments in general and for the specific warning regarding annuities and seniors.
If you have been a victim of fraud in the purchase of an annuity, contact us or an experienced litigation attorney to get advice on what your next step should be.
Another resource for you is to join our Facebook Fan Page – Alabama Consumer Protection Attorneys where we share useful information about the same types of issues that we cover in this blog.