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Variable Annuities' Latest Feature Is To Pay Beneficiaries' Taxes
MetLife Inc. and Prudential Insurance Co. of America are under investigation for neglecting to alert unsuspecting beneficiaries about death benefits owed to them. Several other insurance companies also are being probed, including Chicago's United Insurance Co. of America, a unit of Unitrin Inc.
Many of the policies involved are small, often for $1,000 or less. Additionally, many policyholders bought multiple policies.
Source: Wall Street Journal, April 4, 2001
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Sponsored by James J. Eccleston, an attorney representing stockbrokers, financial planners and
investors nationwide in arbitration, litigation and regulatory matters, and a shareholder with the law firm
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P.C.(www.snsfe-law.com). This Web site contains material
of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment advisor when building and protecting your wealth.
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