Ohio National Financial Services. Photo: Shutterstock.com
At least 10 federal lawsuit claim Ohio National Life Insurance and its affiliates terminated contracts and stopped paying commissions to thousands of broker-dealers who sold its variable annuities.
March 03, 2019 at 10:30 AM
1 minute read
staff reporter
Ohio National Life Insurance Co. is weathering a legal storm after announcing late last year that it will no longer pay ongoing “trail” commissions to brokers and advisers who sold and serviced its variable annuities from 2012 through 2018.
At least 10 lawsuits have been filed in federal courthouses around the country since the insurer and its affiliates curtailed the payments to tens of thousands of brokers and stopped selling the annuities.
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