RP Legal LLC Launches National Litigation Platform to Represent Victims of Indexed Universal Life Insurance Schemes

Founder Robert Rikard has recovered tens of millions for clients misled by "tax-free retirement" and investment-based insurance schemes surrounding Indexed Universal Life products.

COLUMBIA, S.C., Aug. 6, 2025 /PRNewswire/ -- Veteran trial attorneys Robert Rikard and Peter Protopapas today announced the launch of RP Legal LLC, a national litigation firm focused exclusively on representing individuals harmed by Indexed Universal Life (IUL) insurance policies. The duo has decades of experience litigating complex civil cases across the United States. As a national leader in IUL litigation, Rikard has represented more than 400 clients, including retirees, families, business owners, and professionals, and has recovered tens of millions of dollars from insurers and financial firms that marketed these complex policies as "tax-free retirement" or investment plans.

"We launched RP Legal LLC to hold accountable the insurance companies, agents, and so-called financial advisors who mislead people into buying these policies," Rikard said. "In case after case, we have seen the same pattern: false promises, financial loss, and families left to deal with the fallout. These agents often pretend to be retirement planners, tax experts, or fiduciaries when they are nothing more than insurance salespeople pushing dangerous products."

Indexed Universal Life (IUL) policies are often marketed as low-risk, high-reward solutions for retirement or estate planning, with many agents promising "tax-free retirement" income through policy loans. Consumers are told they can fund the policy for a few years, then borrow against it for life, without taxes or downside risk. In reality, these illustrations rarely hold up. Policyholders are often hit with rising costs, hidden fees, and growing loan balances that drain the policy's value and lead to collapse. Many are misled by insurance agents posing as financial advisors and are never fully informed of the long-term risks or financial consequences.

Victims of IUL policies include retirees, professionals, business owners, athletes, celebrities, and working families. What they all share is the painful realization, often years after buying the policy, that they were sold a false sense of security. These policies are frequently presented with incomplete or misleading information, leaving clients exposed to risks they never understood.

RP Legal LLC provides nationwide legal representation to individuals harmed by Indexed Universal Life (IUL) policies. The firm is committed to exposing deceptive insurance practices, including the growing misuse of premium financing, misleading IRA and 401(k) rollovers into IULs, and the widespread problem of insurance agents posing as financial advisors. These sales tactics often target retirees and professionals, promising tax-free retirement income while concealing the risks. RP Legal LLC helps clients recover losses and hold those responsible accountable.

RP Legal LLC is currently accepting new clients. Individuals who believe they were misled into purchasing an IUL policy are encouraged to visit www.investorlosscenter.com to learn more or schedule a consultation.

About RP Legal, LLC
RP Legal LLC is a national litigation firm based in Columbia, South Carolina, focused exclusively on representing individuals harmed by Indexed Universal Life (IUL) insurance policies. Founded by veteran trial attorney Robert Rikard, who has represented more than 400 clients in IUL cases gone wrong and recovered tens of millions of dollars from insurance companies, agents, and financial firms that marketed IULs as retirement or investment plans. RP Legal LLC brings decades of courtroom experience to a nationwide effort to hold the financial services industry accountable and help clients restore what they lost. The firm's principal office is located at 2110 North Beltline Boulevard, Columbia, SC 29204.

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SOURCE RP Legal