Investigation and pending class action lawsuit against Amerus Group Co., American Investors Life Insurance Company, and Senior Benefit Services for carrying out an illegal and fraudulent scheme to market and sell deferred annuities to senior citizens. These deferred annuities are bad senior retirement investments because they do not mature for 15 or 20 years, often beyond the elderly person's life expectancy. Also, they carry exhorbitant surrender charges if cashed in before the maturation date. As a result, the annuitant's money is locked up for years, and the victims or their loved ones are forced to pay high surrender charges if they need to get it out early. We are investigating similar practices by other companies.
Name (Stock Symbol)
Amerus Group Co.
Amerus Group Co. is a holding company whose subsidiaries are primarily engaged in the business of marketing, underwriting and distributing a broad range of individual life insurance and annuity products to individuals and businesses in all 50 states. Aviva acquired AmerUs Group.
American Investors Life Insurance Company
American Investors Life Insurance sells annuities and life insurance and annuities through about 3,800 independent agents and brokers throughout the US. It focuses on both equity-index and fixed-rate annuities.
Senior Benefit Services
Senior Benefit Services, Inc. is a national insurance marketing company specializing in senior citizen products.
The information provided on ClassAdvocate.com is general in nature,
does not apply to any particular factual situation, and is not and
should not be taken as legal or other professional advice. We make no
commitment or warranty that the factual, legal or any other information
on ClassAdvocate.com, or on any linked website, is accurate, complete,
error-free, or current. As such, you should not rely on such information,
and should seek professional advice if and as you determine appropriate.
ClassAdvocate.com is not a lawyer referral service, and no attorney-client
or confidential relationship is or should be formed by use of the site.
The investigations listed on ClassAdvocate.com are attorney advertisements
and do not in any way constitute a referral or endorsement by ClassAdvocate.com
or any approved or authorized lawyer referral service.