A complaint class action has been filed against indexed annuities provider Security Benefit which was cleared of any wrongdoing earlier in the summer after another class action against the company was dismissed.
A class action lawsuit alleging that Security Benefit Life Insurance engaged in ‘unlawful, unfair and fraudulent business practices’ in relation to its indexed annuities could have a negative impact on the wider market at a time when these products are posting the highest level of sales ever . The lawsuit (Howard Rosen v Security Benefit Life Insurance Co.), which was filed last week by three individuals, claims Security Benefit used proprietary indexes in two of its fixed inde
Continue reading and get unlimited access for 7 days with a free trial of SRP.
Get a free trialAlready a subscriber? Login