Hello,
First time poster even though I have been lurking around this site for over a year. I hate having to post without first introducing myself, but this is an emergency situation and I need some advise. I hope you all understand.
While watching Dateline tonight, I found out that my parents were one of the many victims who fell for the index annuity trap.
They retired a couple of years ago and moved to Italy. Over the next few months they were planning on making large withdrawals to fund their new home purchase. Tomorrow I'm going to call them to explain the situation they are in.
I have done some searching on the web and I found that there is a class-action lawsuit against Allainz. Would anyone know how my parents can join this lawsuit? Any advise is greatly appreciated. Thank You!
1. Dont freak out.
2. Find out what product they have and I can get the details for you.
3. It is probably not as bad as you think, it may have even been good for them.