Security Benefit indexed annuity fraud lawsuit may signal trouble for other insurers

October 29, 2019 by Greg Iacurci

A lawsuit that alleges Security Benefit Life Insurance Co. engaged in a fraudulent scheme related to its indexed annuities hints at trouble for other indexed annuity shops at a time when the products are growing more popular.

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“The way that product is marketed is not dissimilar from other indexed annuities with hybrid indices,” said Sheryl Moore, president and CEO of consulting firm Moore Market Intelligence. “It will be interesting to see the outcome of this case and whether or not it will translate into additional class actions.”

Originally Posted at InvestmentNews on October 25, 2019 by Greg Iacurci.