When to File an Allianz Annuity Fraud Lawsuit

Many seniors have paid off their homes and have retirement income saved up after decades of hard work. But having all that money, and with many being vulnerable, they are also targets for deceptive investment schemes, including annuities.

Allianz Insurance Company is one seller of annuity products, and a company that has been generating an increasing number of lawsuits over its allegedly deceptive sales tactics.

An annuity is a type of insurance product purchased through a sales agent. After purchasing an annuity, the insurance company then makes installment payments, usually every month, once the premium is paid. For seniors, annuities are often purchased to supplement retirement income.

Annuities vary in the length of time they are paid. Some are for a fixed amount of time, while others are paid over your lifetime.

Deferred annuities delay the payment of income to you after a specified amount of time. They typically have two phases: a savings phase in which the money is invested and an income phase when payments are received.

Am I a Victim of Allianz Annuity Fraud?

Determining if you are a victim of annuity fraud can be difficult because fraud can be so rampant, the tactics may not be considered out of the ordinary.

For example, an insurance company might come to a retirement community, assisted living center or church as a “trust adviser” to give a free talk about investments. This is a prime way for dishonest sales agents to make their dishonest pitch to seniors who have no one to help them filter the claims.

Also, a sales agent may use pressure tactics, meeting with the senior alone and telling him or her that the annuity offer is only good for that day.

Sales agents can make it sound very simple and beneficial to have a senior purchase or transfer an annuity while minimizing the other aspects of an annuity that might not be beneficial. And, during this process, the agent gets access to the senior’s financial information.

Many seniors are surprised to find out how high the surrender charges are for an annuity. And they may not understand how inaccessible their money is when they might really need it.

When Should I File an Allianz Annuity Fraud Lawsuit?

Annuity products Allianz include:

• Bonus Dex
• Bonus Maxx
• Flex Dex
• Flexdex MC
• Master Dex 5, Master Dex 10
• Power 7 Annuity
• Power Dex
• Power Rate

Seniors who initially purchased annuities and who have taken legal action against Allianz and other insurance companies have alleged that they were not informed of the annuity’s high surrender charges and that the interest accrued over the term of the annuity was improperly lowered and was used in paying high commissions and bonuses to sales agents for the products.

If you feel you were misled in purchasing any of the above products, you should consider filing a lawsuit.

A reputable attorney will offer a free consultation to allow you to discuss your concerns to see if you might be a victim of fraud.

Allianz Annuity Fraud Lawsuit Information

If you or a family member purchased a deferred annuity from Allianz Life Insurance Company of North America, you may have a legal claim. Our experienced attorneys can help you to understand your legal options during a free, confidential consultation.

Get a Free Life Insurance Claims/Annuity Fraud Lawsuit Review

If you or your loved one purchased a bonus annuity, life insurance policy or Medicaid qualified annuity and it did not turn out as promised, you may need to have an investment fraud lawyer review the policy, the payments, and the potential benefits. You may be surprised at what they find, and you may even qualify for financial compensation beyond what the policy promised.

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