Rising Annuity Sales Lead to Increased Fraud Claims

A recent article in the Pittsburgh Post-Gazette entitled “As annuity sales soar, fraud claims have increased” outlines some of the pitfalls associated with the sale of annuities. The article specifically references the practice of replacing one annuity with another annuity after a short period of time. Frequently, this practice requires the owners of the annuities to pay steep penalties (also known as surrender charges) due to the replacement. Annuity customers can lose significant amounts of money as a result of annuity replacements.

Joel Ewusiak frequently represents clients in disputes involving the sale of annuities. Please contact Joel Ewusiak for legal assistance with your specific matter.