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Do I have an Annuity?
What should I do about it?
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If you get statements from an insurance company, such as Lincoln Benefit Life, Met Life, Traveler's, New York Life, AIG, Sun America, or Kemper, your broker may have invested your money in an annuity
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Annuities are expensive insurance products that are not suitable for most investors
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Your money in the sub-accounts may be invested in the Stock Market. YOU COULD LOSE SOME OR ALL OF YOUR MONEY!! |
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If you cancel the annuity, you may incur surrender charges
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If you trade your annuity for another annuity, you will pay MORE commissions to your broker
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If you trade your annuity for another annuity, you will incur a NEW surrender charge period
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If you have death benefits (life insurance), the benefit will decrease as you withdraw money from the annuity
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If you surrender the annuity before age 59 ½, you will incur an IRS penalty of 10%
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You may not understand your statements or exactly what it is you have purchased.
Call Us, We Can Help You!
(713) 862-2152
Two teachers in Washington State have filed suit against the National Education Association, alleging that the N.E.A. received kickbacks for recommending high-fee annuities to its members. Click on the following link to read "The National Education Association Annuity Scandal."
http://aboutbrokerfraud.typepad.com/about_broker_fraud_blog/nea_annuity_lawsuit/index.html
Investment News NEW YORK - Intensifying its recent focus on protecting retirees, the Financial Industry Regulatory
Authority began last month a sweep of broker-dealers focusing on the use of exemptions in the tax code
to withdraw money from retirement accounts for clients before they reach 59½... (continued)
Click the link below to read the full article at investmentnews.com:
http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20070813/FREE/70813007
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