Lincoln ordered to mediate FIA illustration lawsuit filed by former agent
June 28, 2023 by John Hilton
Texas judge ordered Lincoln Financial and nine plaintiffs suing over fixed indexed annuity performance to agree on a mediator by July 11.
The parties are to name a mediator, or state that they cannot agree on one, by that date, according to an order Tuesday by U.S. District Judge Ed Kinkeade. The judge closed the case until he rules on motions to dismiss.
“The parties shall mediate this case by April 5, 2024,” Kinkeade wrote.
Click HERE to read the full story via INN
Wink’s Moore on the Market:
“Plaintiffs say Lincoln led them to expect the consistent 6% gains illustrations showed.”
Oh, pardon me while I cry B.S.
You CANNOT be a licensed insurance agent, selling indexed annuities, and not realize that one could earn as little as 0% interest if they purchase an indexed annuity.
The dang product training requirements alone would ensure any agent knows this basic premise of indexed annuity’s interest crediting. Never mind the marketing materials, disclosures, and illustrations…
The coverage on this case is not making the insurance agent look too bright. Or maybe not too honest…
What IS his motivation anyhow?!?
Thanks for the hookups John Hilton at InsuranceNewsNet. -sjm
