Category: Annuities

ATTORNEY NEWSLETTER Thanks to new legislation recently signed by Governor Jerry Brown, insurance carriers in California will no longer be allowed to levy surrender charges against a policy’s death benefit. California elder abuse attorneys say that the law, which takes effect on January 1, 2016, will protect more senior citizens. […]

ATTORNEY NEWSLETTER A recent annuity fraud case in California illustrates the danger that annuities can pose to people’s finances, especially when it comes senior citizens. An insurance agent in Palm Desert was recently sentenced to more than nine years in prison and ordered to pay $3.4 million in restitution for […]

ATTORNEY NEWSLETTER Annuities are not always a suitable investment for the elderly, and they should educate themselves in order to avoid making a bad investment. Senior citizens hold two-thirds of the wealth in this country and the elderly population is increasing. As a result, elder financial fraud is growing as […]

ATTORNEY NEWSLETTER LIMRA Secure Retirement Institute has released its individual annuity company ranking list for 2014, The ranking list reveals some trends, including strong competition among carriers in the fixed annuity sector. According to the data from LIMRA Secure Retirement Institute, Jackson National was the overall winner for combined selling […]

ATTORNEY NEWSLETTER Indexed universal life (IUL) insurance illustrations often appear compelling, and can outperform traditional universal life (UL) illustrations. However, these illustrations can be misleading and set unrealistic expectations for consumers. It is important that consumers who are considering these policies understand these illustrations in order to make a suitable […]

ATTORNEY NEWSLETTER Apollo Global Management spent millions of dollars to invest in Caesar’s and Harrah’s casinos in 2013 to keep the company afloat, getting the cash from its life insurance division, Athene Life Insurance and Annuity Company. Indirectly, it became Athene Life Insurance and Annuity Company’s investment in the casino […]

ATTORNEY NEWSLETTER Insurance companies and their agents may use various schemes to market and sell deferred annuities. California annuity fraud attorneys want to make consumers, and particularly senior citizens, aware of these schemes. To read more about the risks of deferred annuities and how to prevent them, read our previous […]

ATTORNEY NEWSLETTER California financial fraud attorneys want to provide consumers with tips, tools, and resources to protect against the risks of purchasing deferred annuities. For more on deferred annuities and their risks, read here: /the-risks-of-deferred-annuities-and-what-youre-really-paying-for/. TIPS TO DETERMINE IF A DEFERRED ANNUITY IS AN APPROPRIATE INVESTMENT FOR YOU: -Research the […]

ATTORNEY NEWSLETTER Deferred annuities are a financial product that delays payments of income until the investor elects to receive them. This type of annuity has two main phases, the savings phase in which you invest money into the account, and the income phase in which the plan is converted into […]

ATTORNEY NEWSLETTER The insurance commissioners association has been working on new rules to limit captive reinsurance, and formed a new working group to study why captive reinsurance has now spilled over from life insurance into annuities. The group is led by Nick Gerhart, Iowa’s insurance commissioner. A recent New York […]