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The Customer alleges she was misled when advised to consolidate her existing annuities into a new annuity in June 2024 and was not informed that she was able to cancel the transaction during the "free-look" period. The customer alleges she lost money by the time her funds were transferred to another company and wants to be reimbursed for the loss.
Damage Amount Requested
$9,237.71
Settlement Amount
$9,237.71
6/11/2010
Customer Dispute
Settled
Allegations
WITH REGARD TO THE PURCHASE OF A VARIABLE LIFE INSURANCE POLICY IN OR AROUND APRIL 1999, PLAINTIFFS ALLEGE THAT THE PREMIUM PAYMENTS AND COSTS ASSOCIATED WITH THE POLICY WERE NOT COMPLETELY DISCLOSED.
Settlement Amount
$200,000.00
3/13/2009
Customer Dispute
Denied
Allegations
THE CUSTOMER ALLEGES THAT IN OR AROUND SEPTEMBER OF 2008, HE TOLD HIS AGENT TO LIQUIDATE HIS MUTUAL FUNDS AND KEEP THE INVESTMENTS IN CASH AND ON THE SIDELINES GIVEN THE UNCERTAINTY OF THE MARKET. CUSTOMER ALLEGES THAT THE AGENT PUT THESE FUNDS INTO HIS EXISTING VARIABLE ANNUITY POLICY WITHOUT HIS AUTHORIZATION AND CONSENT.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
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Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.