Category: Annuities

ATTORNEY NEWSLETTER What Duty Does An Agent or Advisor Owe You? The “Best Interest” Standard We at Evans Law Firm litigate the question of an insurance agent’s duty to consumers, especially when it comes to whole, universal and indexed universal life insurance and/or annuities. As life insurance and annuity lawyers, […]

ATTORNEY NEWSLETTER Surrender Charges on Whole and Universal Life Insurance If you are over age 60, live in California, and have surrendered a whole or universal life insurance policy, you may have paid a surrender penalty. You may also have suffered a tax loss on the surrender.  The California Insurance […]

ATTORNEY NEWSLETTER Tax Consequences of Surrenders Every year a sizeable percentage of cash value life insurance policies are surrendered by policyholders. Those surrenders may have tax consequences.  We represent policyholders who suffer tax losses as a result of surrenders and/or replacements they are talked into by agents and advisors.[1]  If […]

ATTORNEY NEWSLETTER Fixed Indexed Annuities Sales Hit Records Fixed indexed annuities sold in record numbers in 2016 and are on track to have another big year in 2017. Agents push fixed indexed products as safe bets in volatile markets.  The San Francisco and California annuity attorneys at Evans Law Firm […]

ATTORNEY NEWSLETTER  What Duty Does An Agent Owe You? Putting You First We at Evans Law Firm litigate the question of an insurance agent’s duty to his clients, particularly when it comes to life insurance and/or annuities. We have written on the subject in this column.  As life insurance and […]

ATTORNEY NEWSLETTER Beware Annuity Sales Hype Always Think About Taxes Incomplete information may be worse than none at all, particularly when it comes to annuities and taxes. Tax deferral is a key component of sound retirement planning.  Insurance agents push annuities as the best tool for that deferral.  There may […]

ATTORNEY NEWSLETTER The High Cost of Surrender Charges If you are over age 60, live in San Francisco or anywhere else in California, and have fully or partially surrendered a deferred annuity, you may have paid a surrender charge also called a surrender penalty or withdrawal charge. California law has […]

ATTORNEY NEWSLETTER FINRA Cracking Down on Faulty Annuity Replacements Cracking Down on Exploitation The Financial Industry Regulatory Authority (FINRA) is looking closely at brokers who churn their clients’ variable annuities. Recently, FINRA announced disciplinary measures against two brokers who churned client annuities.  The churns (or replacements) resulted in heavy surrender […]

ATTORNEY NEWSLETTER RiverSource Life Insurance Company Deferred Annuities The annuity attorneys at Evans Law Firm Inc. represent clients who have suffered losses on all types of annuity contracts, including fixed, indexed, and variable deferred annuities. These contracts charge sales commissions, rider fees and other benefit charges, and penalties on full […]

ATTORNEY NEWSLETTER Complaints Over Hybrid Annuities What Are Hybrid Annuities? Hybrid annuities, often called buffer variable annuities or structured variable annuities, are complicated combinations of fixed and variable deferred annuities. Equity-indexed or Fixed-indexed annuities are also hybrid annuities.  Agents and issuers sell hybrids as “buffers” against market downturns with higher caps […]