Category: Annuities

ATTORNEY NEWSLETTER Be Wary of Variable Annuities Don’t Be Blindsided In Your Search For Higher Returns In our current low-interest rate environment, insurance agents and retirement planners push variable annuities as a way to get more bang for your buck when it comes to retirement savings. Be very careful.  These […]

ATTORNEY NEWSLETTER Be Wary of Annuities Don’t Be Blindsided In Your Search For Higher Returns Banks sell a lot of annuities. Bank customers grumble at low interest rates on bank deposits and CDs and banks want to keep their customers happy.  So many bank officers and service reps steer disappointed […]

ATTORNEY NEWSLETTER Be Wary of Annuities Commissions, Fees and Surrender Charges Drain Your Savings One commentator recently summed it all up when it comes to annuities: “Annuity companies and annuity peddlers are making boatloads of money from you.”[1]  It’s the truth.  Annuities are among the highest commission financial products out […]

ATTORNEY NEWSLETTER Be Wary of Annuities in IRA Accounts Tax deferral is the key to successful retirement savings. IRAs, 401(k)s, SEPs and the like offer deferral and savers can see their retirement savings grow tax-free until it’s time to withdraw without penalty after age 59 ½. Annuity salesmen often counsel […]

ATTORNEY NEWSLETTER Inappropriate Annuity Replacements Churning Annuities Be careful whenever an insurance agent recommends you replace an existing annuity or whole or universal life insurance policy with a new one. Replacements of existing policies result in commissions payable for the new policy, surrender charges for the old policy and a […]

ATTORNEY NEWSLETTER Beware of Deferred Annuities Many analysts see a market correction on the horizon as severe as the drop ending the dotcom bubble back in 2000. Insurance agents seize on such negative forecasts when pushing seniors and those soon to retire toward fixed or indexed annuities and life insurance. Proceed […]

ATTORNEY NEWSLETTER A Closer Look At Variable Annuities and Seniors Variable annuities are complex annuity contracts with securities and insurance features. Returns on variable annuities fluctuate with the market making these complicated contracts especially dangerous for seniors. The complexity and confusion surrounding the terms of variable annuities can lead to […]

ATTORNEY NEWSLETTER Insurance Agent Takes $1 Million From Elderly Client A Recent Case Makes Headlines We at Evans Law Firm represent clients harmed as the result of insurance agents who financially abuse their elder clients. The harm an unscrupulous insurance agent can inflict is serious and can involve a lot […]

ATTORNEY NEWSLETTER Seniors Beware of Deferred Annuities The devil’s in the details. The old idiom is true of much in life. Insurance contracts surely live up to the saying, and none more so than complicated annuities. The Alameda County and California financial elder abuse, annuities and securities attorneys at Evans […]

ATTORNEY NEWSLETTER Full and Partial Surrenders Athene Annuity and Life Company, formerly Aviva Annuity and Life Company, issues fixed indexed annuities in California. These contracts, like all deferred annuities, include penalties for early withdrawals, known as surrenders.  Surrenders may be full (withdrawing the entire value of the contract) or partial […]