Migliaccio & Rathod LLP is investigating whether Allianz fixed-index annuity products, including products such as Allianz 222® and Allianz 360®, were marketed with attractive upside illustrations while allowing renewal caps, participation rates, or crediting terms to be reduced after purchase.
Reported Issues
Consumers report:
- Purchasing fixed-index annuities based on representations about market-linked upside.
- Being told the annuity protected principal through a 0% floor.
- Later seeing cap rates, participation rates, or crediting terms reduced.
- Feeling locked into the annuity because surrender charges made exit costly.
- Receiving returns far below what sales illustrations suggested.
Allianz markets annuities as retirement products, while fixed-index annuity structures generally depend on caps, participation rates, index crediting methods, and contract terms that may change over time depending on the product.
Why Individuals Should Be Concerned
Potential claims include:
- Misleading annuity illustrations
- Breach of implied covenant
- Elder financial abuse
- Consumer protection violations
- Securities-style omission where applicable
- Economic loss from reduced credited interest
Signs You May Be Affected
- You purchased an Allianz fixed-index annuity.
- Your cap or participation rate was reduced after year one.
- Your actual returns were far below the illustration.
- You could not exit without paying surrender charges.
- You purchased based on “market upside with downside protection” representations.
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.