Category: Annuities Fraud

ATTORNEY NEWSLETTER Annuity Scams Targeted At Seniors Annuity Fraud On average, a senior victimized by financial elder abuse loses over $140,000. That level of monetary loss is devastating.  Unscrupulous insurance agents are among the financial predators on seniors, selling them unsuitable annuities and life insurance that line agents’ pockets with […]

ATTORNEY NEWSLETTER Understanding Immediate Annuities An immediate annuity is an insurance contract where the policyholder makes a single lump-sum payment and begins receiving back almost immediately regular income payments. Imagine, for example, you’re over 60 and sell your home and decide to put some or all of the proceeds into […]

ATTORNEY NEWSLETTER Beware Fixed Index Annuities Americans pump billions into complex fixed indexed annuities every year. Insurance agents push the annuities as a safe bet in volatile markets – they’ll tell you the policy offers the upside of market increases (the “indexed” part) with downside protection (the “fixed” part).  Advertised […]

ATTORNEY NEWSLETTER Fighting Harm to Senior Citizens Insurance agents and carriers target seniors for expensive insurance products like life insurance and annuities that charge high premiums and pay big commissions but are unsuitable for the senior’s financial picture and station in life. After the policies are in place, seniors find […]

ATTORNEY NEWSLETTER Seniors Beware of Deferred Annuities Deferred annuities are complicated insurance policies where the policyholder pays a premium today for a series of income payments in the future. Carriers and agents sell deferred annuities with fixed interest rates, variable rates, and in policies offering fixed and variable funds. All […]

ATTORNEY NEWSLETTER The Trouble With Annuity Replacements Churning Annuities In shifting economic climates, insurance agents often recommend replacement of old annuity or whole or universal life insurance policies with promises of better, newer products. For most policyholders, especially seniors, replacements are inappropriate because they are expensive, can trigger tax liabilities, […]

ATTORNEY NEWSLETTER Insurance Agent Takes $1 Million From Elderly Client A Recent Case Makes Headlines We at Evans Law Firm represent clients harmed as the result of insurance agents who financially abuse their elder clients. The harm an unscrupulous insurance agent can inflict is serious and can involve a lot […]

ATTORNEY NEWSLETTER FINRA Cracking Down on Faulty Annuity Replacements Cracking Down on Exploitation The Financial Industry Regulatory Authority (FINRA) is the independent authority that governs the nation’s financial industry, including the sale of annuities to American consumers. Lately, FINRA has begun to look closely at brokers who churn their clients’ […]

ATTORNEY NEWSLETTER Be Wary of Anti-Volatility Gimmicks On Monday, February 5, the Dow Jones Industrial Average fell by more than 1,179 points, the biggest daily point loss in its history. Although the market recovered, many investors, including seniors and those nearing retirement, understandably have the jitters.  In a volatile market, […]

ATTORNEY NEWSLETTER Be Wary of Annuity Sales Presentations Have you ever returned to your car in a shopping center parking lot to find a flyer on your windshield inviting you to a free lunch and estate planning seminar? Such tactics are often used by insurance agents to lure seniors especially […]