Annuity Litigation Roundup

September 28, 2021 by Dimitrije Canic, Brooke Patterson

Court Emphasizes Disclosure Substance Over Form

A recent decision in Nofsinger v. Jackson National Life Insurance Co. shut down a putative class action in which the plaintiff alleged she surrendered her annuity contract after receiving a deceptive letter regarding her contract options from Jackson National and was then charged an improper surrender charge.

In Nofsinger, the plaintiff purchased a dual fund annuity contract from Jackson National as a supplemental retirement plan vehicle for teachers in 1991.

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Originally Posted at JD Supra on September 22, 2021 by Dimitrije Canic, Brooke Patterson.