Category: Annuities

ATTORNEY NEWSLETTER Keeping Retirement Savings for Yourself The closer you get to retiring the more you try and save for the future. While saving as much as you can is important, where you put those savings is equally important. Insurance agents, financial advisors, brokers, and retirement planners push annuities and […]

ATTORNEY NEWSLETTER Beware the Hard-Sell Free Lunch High Pressure Sales Seminars Have you ever come back to your car at a shopping mall and found a free lunch flier on your windshield? Or maybe a invitation by mail to a free dinner seminar?  Some insurance agents are notorious for relying […]

ATTORNEY NEWSLETTER Beware Equity Indexed Annuities Modest Yields, Fees, and Withdrawal Charges Annuity carriers and agents push what they claim are “safer” investment products in volatile markets. Anxious seniors, with money to invest and concerns about future income, worry about low rates on insured deposits on the one hand and […]

ATTORNEY NEWSLETTER Unsuitable Sales, Improper Exchanges, High Fees, Tying Up Your Money Seniors Beware Unscrupulous advisors and insurance agents, hungry for commissions, push annuities on seniors worried about income levels for their later years. The sales pitches rev up as markets turn volatile and promises of guaranteed rates sound good. […]

ATTORNEY NEWSLETTER Genworth Life and Annuity Insurance Company Whole Life Insurance Required Disclosures to Senior Policyholders If you are over age 60, live in Alameda County or elsewhere in California, and have cancelled (or surrendered) a whole or universal life insurance policy issued by Genworth Life and Annuity Insurance Company […]

ATTORNEY NEWSLETTER FINRA Reports Surge In Financial Elder Abuse Claims Unsuitable Products, Breach of Contract, Negligent Advice and More Investors harmed by broker or advisor recommendations can file complaints about the misconduct with the Financial Industry Regulatory Authority (FINRA). FINRA has the power to levy fines and disciplinary sanctions.  The […]

ATTORNEY NEWSLETTER Full and Partial Surrenders or Cancellations of Athene Annuity and Life Company Annuities Athene Annuity and Life Company, formerly Aviva Annuity and Life Company,[1] issues fixed indexed annuities in California.  These contracts, like all deferred annuities, include penalties for early withdrawals, known as surrenders.  Surrenders may be full […]

ATTORNEY NEWSLETTER Greater Disclosures Still May Not Tell The Full Story Variable annuities and variable life insurance contracts are expensive, complex securities sold by prospectuses and subject to regulation by the U.S. Securities and Exchange Commission (SEC).   This week, the SEC announced proposed rule changes intended to improve disclosures for […]

ATTORNEY NEWSLETTER Understanding Riders in Annuities The Death Benefit Rider Sales Pitch Riders are endorsements added to annuity contracts sold to enhance the benefits payable under those contracts. There are several types of riders, two of the most common being income riders and death benefit riders.  We have written on […]

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 […]