Category: Annuities Fraud

ATTORNEY NEWSLETTER California financial fraud attorneys want to provide consumers with tips, tools, and resources to protect against the risks of purchasing deferred annuities. For more on deferred annuities and their risks, read here: /the-risks-of-deferred-annuities-and-what-youre-really-paying-for/. TIPS TO DETERMINE IF A DEFERRED ANNUITY IS AN APPROPRIATE INVESTMENT FOR YOU: -Research the […]

ATTORNEY NEWSLETTER Deferred annuities are a financial product that delays payments of income until the investor elects to receive them. This type of annuity has two main phases, the savings phase in which you invest money into the account, and the income phase in which the plan is converted into […]

ATTORNEY NEWSLETTER California life insurance and annuity fraud attorneys warn consumers that insurance policy illustrations may be misleading and create heightened expectations for unrealistic results. Illustrations can be a useful way to demonstrate and understand how a policy, such as an indexed universal life policy (IUL), may work. However, they […]

ATTORNEY NEWSLETTER The insurance commissioners association has been working on new rules to limit captive reinsurance, and formed a new working group to study why captive reinsurance has now spilled over from life insurance into annuities. The group is led by Nick Gerhart, Iowa’s insurance commissioner. A recent New York […]

ATTORNEY NEWSLETTER California annuity fraud attorneys note that people should be cautious in purchasing deferred annuity policies. Although these policies may seem like a beneficial investment, consumers are often misinformed about the actual risks of a deferred annuity policy. Some life insurance companies and/or their agents misinform their clients about […]

ATTORNEY NEWSLETTER California securities fraud lawyers want to warn consumers, particularly senior citizens, about various types of securities fraud schemes. Seniors can be prime targets for investment scams and fraud, as they often have excellent credit, own homes, and have a nest egg. One such type of fraud that seniors […]

ATTORNEY NEWSLETTER A settlement involving over 200,000 senior citizens was recently approved in a California District Court lawsuit against Allianz Life Insurance Company of North America for the sale of deferred annuities to elderly victims. The class members in the class action lawsuit were recently awarded approximately $250 million in […]

ATTORNEY NEWSLETTER California insurance fraud attorneys are investigating potential claims against ING, now called Voya, related to the sale of annuities and life insurance policies. ING sold annuities and life insurance policies through its subsidiaries Security Life, ReliaStar, ING Life and Annuity, and ING USA. ING US officially became Voya […]

ATTORNEY NEWSLETTER California insurance fraud attorneys are investigating potential claims against Transamerica Life Insurance Company related to the sale of both annuities and life insurance policies. Transamerica Life Insurance Company, which is owned by Aegon N.V., refers to itself as “one of the world’s leading financial services companies, providing insurance, […]

ATTORNEY NEWSLETTER California insurance fraud attorneys are investigating potential claims against Lincoln Benefit Life Company related to the sale of both annuity and life insurance policies. Lincoln Benefit Life Company’s website states that the company was acquired by Resolution Life, a specialty U.S. life insurance company with institutional investors, in […]