Customer Alleges the rep failed to disclose Tax Caonsequences.

$14,592.00

THE CLIENT ALLEGES THAT THE REPRESENTATIVE DID NOT FULLY DISCLOSE ALL THE FACTS REGARDING THE LIFE INSURANCE AS AN INVESTMENT AND THAT THE POLICY WERE NOT FAIRLY ASSESS THE SUITABILITY OF THEIR SITUATION.

Case was written in June 1990, after extensive fact finding and through explanation of the policy features, the client decided that the VAL was a good fit. I'm proud of the service I provide on an ongoing basis and this case was serviced properly with timely reviews with the client. I can't really understand the complaint as service was good, performance was good, and client seemed very satisfied. Client had stopped paying premiums at retirement, and I provided illustrations that showed that assuming similar returns the policy would remain in force. I prov±ded ongoing service until the policy was transferred out earlier in 2016. This concerns a policy included in the class of policies that was the subject of a nationwide class action settlement in which the Company was released concerning life insurance sales practices. The policyholder did not make a timely claim in the class action settlement remediation plan. This inquiry was received on a questionnaire form supplied to the policyholder by the Company. The Company is reviewing this inquiry without waiver of the Company's rights under the class action settlement and release. The Company will file an amendment to disclose the outcome. The Company by this filing makes no findings regarding the actions of the representative.

THE CLIENT ALLEGES THAT THE REPRESENTATIVE DID NOT FULLY DISCLOSE ALL THE FACTS REGARDING THE LIFE INSURANCE AS AN INVESTMENT AND THE GUARANTEES AND RISKS OF THE POLICIES.

REGARDING THE PURCHASE OF A 1993 VARIABLE APPRECIABLE LIFE INSURANCE POLICY,CLIENT ALLEGED AGENT TRICKED HIM INTO TAKING OUT ANOTHER POLICY THAT SUCKED ALL THE AVAILABLE MONEY FROM THE FIRST ONE.THIS MATTER IS BEING REPORTED BECAUSE THE COMPLAINANT HAS ALLEGED NO DOLLAR AMOUNT AND THE FIRM HAS NOT MADE A GOOD FAITH DETERMINATION THAT THE DAMAGES FROM THE ALLEGED CONDUCT WOULD BE LESS THAN $5,000.

THIS CONCERNS A POLICY INCLUDED IN THE CLASS OF POLICIES THAT WAS THE SUBJECT OF A NATIONWIDE CLASS ACTION SETTLEMENT IN WHICH PRUDENTIAL, ITS INSURANCE AFFILIATES AND PERSONNEL WERE RELEASED CONCERNING LIFE INSURANCE SALES PRACTICES. THE CLASS ACTION SETTLEMENT REMEDIATION PROCESSES FOR ADDRESSING CLAIMS FOR POLICIES INCLUDED IN THE CLASS HAVE CONCLUDED. BECAUSE THE COMPANY AND THE REPRESENTATIVE(S) WERE RELEASED FROM ANY FURTHER LIABILITY OR OBLIGATION WITH RESPECT TO CLAIMS LIKE THOSE MADE BY THE POLICYHOLDER, THE COMPANY IS NOT REVIEWING THIS INQUIRY AND IS MAKING NO FINDING OR FURTHER FILING REGARDING THIS INQUIRY.

"THE FACT THAT HE SIGNED MY NAME TO A DOCUMENT REGARDING THESE POLICIES WITHOUT MY KNOWLEDGE OR CONSENT." "MR. HUSMAN HAD FORGED MY NAME....."

THE ALLEGATIONS REFERENCED IN THE INITIAL FILING WERE NOT SUBJECT TO REPORTING ON FORM U4 UNDER THEN APPLICABLE GUIDELINES. CONSEQUENTLY, THIS MATTER IS BEING REMOVED