Category: Annuities Fraud

ATTORNEY NEWSLETTER California annuity and insurance fraud attorneys recommend that consumers carefully review annuity policies purchased through Fidelity and Guaranty Life Insurance Company. Annuities are complex products that often have hidden fees and costs. It is recommended that consumers carefully review any policy and consider their options before purchasing any […]

Banner and William Penn Raise Cost of Insurance Charges on Universal Life Insurance Products ATTORNEY NEWSLETTER California insurance fraud attorneys warn that consumers with universal life plans through Banner or William Penn should be aware that their cost of insurance (COI) rates may be increasing. As of August 1, Banner […]

ATTORNEY NEWSLETTER Consumers should be aware that insurance companies can raise the Cost of Insurance (COI) rates on non-guaranteed life insurance products, resulting in higher monthly policy charges. When there is a change in expectations as to future experience, insurance companies can increase the current COI rates to no greater […]

ATTORNEY NEWSLETTER Seniors lose an estimated $36.5 billion annually nationwide to elder abuse, according to a recent report from San Francisco-based True Link Financial. In any given five-year period, 37 percent of the elderly population is affected by financial elder abuse. Financial elder abuse is widespread but among the most […]

ATTORNEY NEWSLETTER Although insurance agents and companies often pitch the benefits of deferred annuities, it is important for consumers, particularly elderly consumers, to be aware of the risks as well. First, consumers should be aware of some of the marketing and sales schemes used to sell annuities. If you have […]

ATTORNEY NEWSLETTER Annuities are complex products that often have hidden fees and costs. It is recommended that consumers carefully review any policy and consider their options before purchasing any annuity policy. Both indexed and fixed annuities have risks for the consumer. Penalties such as surrender charges and forfeiture charges can […]

ATTORNEY NEWSLETTER Consumers purchasing annuities or indexed universal life insurance policies should carefully review the policy, and research the risks involved in purchasing this type of investment. Aviva USA, and its parent company, Athene USA, is one of the biggest providers of annuities and life insurance products, including Indexed Universal […]

ATTORNEY NEWSLETTER It is recommended that consumers carefully review any policy and consider their options before purchasing any annuity policy. Annuities are complex products that often have hidden fees and costs, and may not be suitable for all investors, particularly senior citizens. Annuities often have surrender charges, making it difficult […]

ATTORNEY NEWSLETTER Thanks to new legislation recently signed by Governor Jerry Brown, insurance carriers in California will no longer be allowed to levy surrender charges against a policy’s death benefit. California elder abuse attorneys say that the law, which takes effect on January 1, 2016, will protect more senior citizens. […]

ATTORNEY NEWSLETTER A recent annuity fraud case in California illustrates the danger that annuities can pose to people’s finances, especially when it comes senior citizens. An insurance agent in Palm Desert was recently sentenced to more than nine years in prison and ordered to pay $3.4 million in restitution for […]