Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

What Is a Variable Annuity?

A variable annuity, like other annuities, is an investment through a contract with a life insurance company and is used as a way to grow your assets tax-deferred and/or receive payments over your lifetime. The variable annuity is based on the performance of underlying investments.

What Goes Wrong with Variable Annuities?

A variable annuity can be appropriate for experienced investors who are willing to take the risks, but many seniors are being sold these investments as a "safe" way to bulk up retirement savings over a short period of time. Unfortunately, the safety of many of these investments is misrepresented or hidden under misleading statements.

It's important to understand that variable annuities usually:

  • Come with high surrender charges
  • Could have serious tax penalties
  • Don’t have "Guaranteed" Returns, as returns depend on the market
  • Are subject to high fees and commissions
  • Are really designed for the long term, not the short term

Before putting your money into variable annuities, be sure you ask questions, do your research, and understand what you're getting into and how it will work in your overall financial picture. If you have lost money on a variable annuity investment due to stockbroker misconduct, speak with one of our experienced and helpful investment fraud attorneys today. Meyer Wilson represents senior investors who have been the victims of investment misconduct nationwide.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram