Category: Annuities

ATTORNEY NEWSLETTER Beware Fixed Index Annuities Phantom Bonuses With over $200 billion in annual sales the annuity industry is big business. Annuities come in a variety of forms, all of which are complex.  Indexed annuities (sometimes branded “fixed indexed annuities”) are particularly complex.  Agents push them in volatile markets, claiming […]

ATTORNEY NEWSLETTER Plan Retirement Investments With Care Avoid Deferred Annuities With Steep Surrender Charges and Certain Types of Life Insurance 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 […]

ATTORNEY NEWSLETTER Securities Fraud on Seniors Securities Law and Elder Law Violations All California consumers are potential victims of securities fraud but seniors are at greatest risk. Unscrupulous brokers and promoters target seniors because they have more money to invest for one thing.  But seniors may also be easier targets […]

ATTORNEY NEWSLETTER Understanding Immediate Annuities An immediate annuity is an insurance contract where the policyholder makes a single lump-sum payment and begins receiving back almost immediately regular income payments. Imagine, for example, you’re over 60 and sell your home and decide to put some or all of the proceeds into […]

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 Beware Fixed Index Annuities Americans pump billions into complex fixed indexed annuities every year. Insurance agents push the annuities as a safe bet in volatile markets – they’ll tell you the policy offers the upside of market increases (the “indexed” part) with downside protection (the “fixed” part).  Advertised […]

ATTORNEY NEWSLETTER Fighting Harm to Senior Citizens Insurance agents and carriers target seniors for expensive insurance products like life insurance and annuities that charge high premiums and pay big commissions but are unsuitable for the senior’s financial picture and station in life. After the policies are in place, seniors find […]

ATTORNEY NEWSLETTER Seniors Beware of Deferred Annuities Deferred annuities are complicated insurance policies where the policyholder pays a premium today for a series of income payments in the future. Carriers and agents sell deferred annuities with fixed interest rates, variable rates, and in policies offering fixed and variable funds. All […]

ATTORNEY NEWSLETTER Fiduciary Rule No Longer Restraining Brokers Unfortunately, President Obama’s initiative to protect consumers from financial advisors who put their own interests before those of their clients has been destroyed by the current administration. Turning its back on consumers, the Trump Administration stalled and then rejected entirely the Department of Labor’s “fiduciary rule” […]

ATTORNEY NEWSLETTER The Trouble With Annuity Replacements Churning Annuities In shifting economic climates, insurance agents often recommend replacement of old annuity or whole or universal life insurance policies with promises of better, newer products. For most policyholders, especially seniors, replacements are inappropriate because they are expensive, can trigger tax liabilities, […]