Migliaccio & Rathod LLP is investigating whether Prudential variable annuity products, including FlexGuard VA, charge living-benefit or rider fees in a way that locks fees to prior high account values even after market declines.
Reported Issues
Consumers report concerns about:
- Purchasing variable annuities based on income or downside-protection representations.
- Being told fees were based on account value.
- Rider charges increasing after account value step-ups.
- Fees remaining elevated even after account values later declined.
- Not understanding that fees could operate as a one-way ratchet.
Why Individuals Should Be Concerned
Potential claims include:
- Misleading fee disclosures
- Securities Act § 12(a)(2) claims where applicable
- Breach of reasonable expectations
- Consumer fraud
- Excessive rider charges
- Economic loss from inflated fees
Signs You May Be Affected
- You purchased Prudential FlexGuard VA or a similar Prudential variable annuity.
- You purchased a living-benefit or income rider.
- Your rider fees increased after a step-up.
- Your account value later fell but the rider fee remained high.
- You did not understand that fees could be tied to prior high values.
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.