Category: Annuities Fraud

ATTORNEY NEWSLETTER RiverSource Life Insurance Company Deferred Annuities The annuity attorneys at Evans Law Firm Inc. represent clients who have suffered losses on all types of annuity contracts, including fixed, indexed, and variable deferred annuities. These contracts charge sales commissions, rider fees and other benefit charges, and penalties on full […]

ATTORNEY NEWSLETTER Complaints Over Hybrid Annuities What Are Hybrid Annuities? Hybrid annuities, often called buffer variable annuities or structured variable annuities, are complicated combinations of fixed and variable deferred annuities. Equity-indexed or Fixed-indexed annuities are also hybrid annuities.  Agents and issuers sell hybrids as “buffers” against market downturns with higher caps […]

ATTORNEY NEWSLETTER What Duty Does An Agent Owe You? Putting You First We at Evans Law Firm litigate the question of an insurance agent’s duty to his clients, particularly when it comes to life insurance and/or annuities. We have written on the subject in this column.  As life insurance and […]

ATTORNEY NEWSLETTER Surrender Charges and Taxes Full or Partial Surrenders Whenever an insurance agent pitches a replacement of your existing annuity, think surrender charges and tax consequences. Surrender charges may be imposed on partial or full surrenders for up to ten years and beyond during the life of a policy. […]

ATTORNEY NEWSLETTER Annuity Scams Targeted At Seniors Annuity Fraud Seniors can often fall victim to financial elder abuse and scams; on average, this can cost an elder $140,500. This number, while certainly shocking, also exemplifies just how far someone is willing to go for their own gain. Some of this […]

ATTORNEY NEWSLETTER  FINRA Cracking Down on Faulty Annuity Replacements Cracking Down on Exploitation The Financial Industry Regulatory Authority (FINRA) is looking closely at brokers who churn their clients’ variable annuities. Recently, FINRA announced it disciplinary measures against two brokers who churned client annuities.  The churns (ore replacements) resulted in heavy […]

ATTORNEY NEWSLETTER Understanding Annuities Tying Up Savings and Hidden Costs Annuities are insurance contracts sold to provide guaranteed income for life. Deferred annuities defer that income (and possibly taxes) until a future date. Insurance agents and advisors promote annuities as retirement savings vehicles. We at Evans Law Firm do not […]

ATTORNEY NEWSLETTER  Fiduciary Rule Impacts Annuity Sales Putting You First Makes A Difference   The Department of Labor’s (DOL) long-awaited “fiduciary rule” took effect earlier this year and is sending annuity sales way down.  Simply put, the rule requires financial advisors to put your interests first and industry authorities agree […]

ATTORNEY NEWSLETTER   Financial Elder Abuse Protections Expanding Cases Against Insurance Companies and Agents Grow   Over the past few years, financial elder abuse cases and protections have steadily expanded, particularly in California. Financial elder abuse attorneys at Evans Law Firm have been in the forefront of this expansion in […]

ATTORNEY NEWSLETTER Fixed Index Annuities: The Biggest Sham of All Fixed Index Annuities Insurance carriers like to offer products such as fixed index annuities. However, these annuities are not always the proper decision for all potential buyers. If you or someone you know has been a victim of fixed index […]