Category: Annuities Fraud

ATTORNEY NEWSLETTER Seniors and elders who are thinking about purchasing an annuity should first familiarize themselves with what an annuity is and the risks associated with annuities. Annuities are not right for everyone.  Read the following for more information on what are annuities, what types of annuities there are, and […]

ATTORNEY NEWSLETTER Annuities usually are not a good idea for senior citizens. The length of time in an annuity policy tends to vest after the expected lifespan of a senior citizen. Especially for senior citizens in poor health, an annuity may result in a loss of money instead of gain. […]

ATTORNEY NEWSLETTER Annuities are popular among the elderly because they are seen as a low risk, safe investment. Some are willing to forego maximum yields for security, though they understand a long term interest rate will always be lower than a short term one. There are several drawbacks however that […]

ATTORNEY NEWSLETTER Genworth Life Insurance Company, Genworth Life and Annuity Insurance Company, and Genworth Life Insurance Company of New York agree to a multi-state settlement regarding life insurance and annuity practices.  This was a multi-state examination that included Florida, California, Delaware, Illinois, Iowa, New Hampshire, North Dakota, Pennsylvania, and Virginia.  […]

Deferred Annuity Lawsuits On February 12, 2009, a proposed California class-action lawsuit was filed in the United States District Court against Texas-based insurer American National Insurance Company (ANICO). The suit alleged that ANICO engaged in illegal, unfair and deceptive business practices in the course of marketing and selling its deferred […]

ATTORNEY NEWSLETTER In a 2007 lawsuit filed by an attorney general, Midland National Life Insurance Company was accused of selling deferred annuities to senior citizens.  It is alleged that Midland National Life Insurance Company sold deferred annuities to senior citizens 62 years and older, with terms that kept their money […]

ATTORNEY NEWSLETTER A class action lawsuit was filed against Massachusetts Mutual Life Insurance Company in 2004 alleging that the company engaged in deceptive sales practices with respect to the sale of deferred annuities.  Massachusetts Mutual Life Insurance Company denied all claims in the complaint.  Massachusetts Mutual Life Insurance Company contended […]

ATTORNEY NEWSLETTER Pacific Life Insurance Company was the target of a class action lawsuit related to sales of deferred annuities.  The 2005 lawsuit alleged that Pacific Life Insurance Company and its salespeople committed securities fraud because they failed to disclose that tax deferral advantages of its annuities products might be […]

ATTORNEY NEWSLETTER Two individuals filed a class action lawsuit against EquiTrust Life Insurance Company alleging that the company engaged in fraudulent business and marketing practices with respect to the sale of deferred annuities.  The Complaint alleges that EquiTrust Life Insurance Company sold a deferred annuity that matured after the buyers […]

Elder financial abuse is a growing epidemic in the state and around the country, annuity fraud lawyers in California report. Unfortunately, many older people have no one to protect their well being, both physically and financially, and are often susceptible to outside parties who want to embezzle money, take over […]