Living Benefit Annuities – Securities and Investment Law
In an article entitled Buying
Your Own Pension, in the July/August 2012 edition of the AARP Bulletin, veteran financial
writer, Jane Bryant Quinn, examines the wisdom of living benefit variable annuities.
In the article, those considering
the purchase of variable annuities with living benefits are advised to first look at the annual
expenses and also consider tax penalties, surrender fees, and other charges associated with early
withdrawals and excessive withdrawals, suggesting that lower fee annuities can be purchased from
Vanguard Group or Fidelity Investments.
The article also suggests that a
deferred-income annuity, with guaranteed payments starting at a future date, might be the better
option, investing your growth and inflation protection component in low cost U.S. and international
stock funds. Prospective living benefit annuity purchasers are also urged in the article to
consider the advice of Moshe Milefevsky, author of The Seven Most Important Equations For Your
Retirement, to consider the equity mix contained in the proposed annuity sub-accounts.
If you feel you have been
victimized with the improper sale of a variable annuity contract with living benefits, we offer a
free initial consultation to assess your case.
The Law Offices of Timothy J. O’Connor is one of the
only law firms practicing securities law in the Tri-City Capital District of Albany, Schenectady and
Troy. We also represent victimized investors throughout the rest of New York
State, including Buffalo, Binghamton, Syracuse, Watertown, Utica, Kingston, New York City/Manhattan,
Long Island, and everywhere in between, as well as in the surrounding states of Massachusetts,
Vermont, New Hampshire, Connecticut, and New Jersey.
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