Published On: January 27, 2017

According to a recent InvestmentNews article, a new type of variable annuity referred to as a buffer annuity, is beginning to gain attention from regulators. Buffer annuities are complex and use structured products in the sub account as the underlying investment, instead of mutual funds. The California Department of Business Oversight has been approached by the state’s insurance commissioner to discuss the product, and the Financial Industry Regulatory Authority (FINRA) has begun to see complaints about the product. According to the article, these annuities place a premium on principal protection and steady account value growth rather than rapid accumulation. Generally, they allow clients to receive returns linked to a stock market index over a limited period of time. Those returns are subject to a cap or limit determined periodically by the life insurer. If you were recommended or sold a buffer annuity by your broker or brokerage firm, please contact our law offices for a no-obligation, no-cost review by an attorney. We take cases on a contingency fee basis only.

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