Migliaccio & Rathod LLP is investigating whether Brighthouse Shield Level Select and similar variable annuity products charge rider, protection, or living-benefit fees in a way that consumers did not reasonably understand when purchasing the product.
Reported Issues
Consumers report concerns about:
- Purchasing annuity products based on downside protection, income, or market-growth representations.
- Being told fees were based on account value or benefit value.
- Later learning that certain fees could remain elevated after market declines.
- Paying charges tied to prior high values rather than current account performance.
- Not receiving clear explanations of how step-ups or high-water values affected ongoing fees.
Why Individuals Should Be Concerned
Potential claims include:
- Misleading fee disclosures
- Consumer protection violations
- Securities-style misstatement
- Excessive rider or protection charges
- Breach of reasonable expectations
- Economic loss from inflated fees
Signs You May Be Affected
- You purchased Brighthouse Shield Level Select or a similar Brighthouse annuity.
- Your rider, protection, or living-benefit fees increased after a market gain.
- Fees stayed high even after your account value declined.
- You did not understand how step-ups affected future charges.
- You believe the fee structure was not clearly explained before purchase.
If you have encountered these issues, we would like to hear from you. Please complete the contact form on this page, send us an email at [email protected], or give us a call at (202) 470-3520.