Security Benefit’s Index A ‘Fraudulent Scheme,’ Lawsuit Says

January 29, 2020 by John Hilton

A new and expanded class-action lawsuit alleges that Security Benefit Life Insurance Co. defrauded consumers by implementing a “fraudulent scheme” involving a proprietary index used in two fixed indexed annuities.

The lawsuit was filed last week in the U.S. District Court for the Southern District of Florida. Three of the plaintiffs were part of a class-action lawsuit filed Oct. 16 in California, then withdrawn a few weeks later.

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Originally Posted at InsuranceNewsNet on January 27, 2020 by John Hilton.