Category: Deferred Annuities

ATTORNEY NEWSLETTER What Are Deferred Annuities?  Why Are Deferred Annuities Bad For Seniors? Understand How Deferred Annuities Work  Deferred annuities are insurance contracts where the policyholder pays a premium to an insurance carrier now for income payments in the future.  Below, we explain in more detail how these complicated insurance […]

ATTORNEY NEWSLETTER Retirees And Those Near Retirement Targeted  Seminars And Other Questionable Sales Tactics Understand How Annuities Work  Insurers, brokers and agents direct annuity marketing toward those planning to retire soon, and recent retirees who have their retirement savings in 401ks or other employer=sponsored plans.  Every time, an agent sells […]

ATTORNEY NEWSLETTER Aggressive Sales Tactics Inadequate Supervision And Omissions Of Important Information Misleading Sales Materials Annuity fraud takes place when seniors are sold annuity products they do not want or need. Insurance agents push these products because the sales generate substantial commissions and the carriers receive large premium payments. Evans […]

ATTORNEY NEWSLETTER Understand How Deferred Annuities Work Avoid Quick Decisions And High-Pressure Sales Tactics Ask the Right Questions And Get A Second Opinion An annuity is an insurance contract. An insurance company agrees to pay you income at regular intervals in return for an upfront premium payment; these annuity contracts […]

ATTORNEY NEWSLETTER Unsuitable Deferred Annuities For Seniors High-Pressure Sales Tactics Warning Signs For Consumers Annuity carriers pay commissions as high as 10 percent to insurance agents when they sell deferred annuities.  Agents in turn target seniors with these sales; sometime the pitch may be to convince a senior consumer to […]

ATTORNEY NEWSLETTER  Agents Target Seniors For Sales Of Deferred Annuities  Disadvantages For Seniors Beware Of Recommendations To Switch Contracts Insurance agents target seniors for sales of deferred annuities but these insurance products are especially complex.  Deferred annuities can run from 50 to over 100 pages long with endorsements (called riders) […]

ATTORNEY NEWSLETTER How Deferred Annuities Work Pitfalls For Seniors Questionable Sales Tactics Some insurance agents become quite aggressive when selling insurance products like certain forms of life insurance and deferred annuities. Sales of these policies generate substantial sales commissions and agents may not fully disclose all the facts about these […]

ATTORNEY NEWSLETTER Questionable Annuities Sales Tactics High Commissions Drive Sales Steep Withdrawal Penalties And Lengthy Surrender Periods Agents receive substantial commissions for the selling annuities to seniors. Often annuity sales are closed on incomplete information. The consumer may not understand how these complicated contracts work and for seniors this can […]

ATTORNEY NEWSLETTER Unsuitable Insurance For Seniors Questionable Sales Tactics Red Flags For Consumers Insurance companies may offer commissions as high as 10 percent to agents to sell products like long-term deferred annuities to senior citizens. In this environment, consumers should arm themselves with information to protect their interests. Evans Law Firm, […]

ATTORNEY NEWSLETTER Prohibitions Against Sales Of Unsuitable Insurance Policies Unsuitable Sales To Seniors Is Financial Elder Abuse Red Flags In Sales Pitches Insurance agents who sell unsuitable insurance products, including indexed annuities, to seniors violate the California Insurance Code and Financial Industry Regulatory Authority (FINRA) regulations against the sale of […]