Category: Financial Exploitation

ATTORNEY NEWSLETTER Annuities Are Inherently Costly and Risky Another Risk: Carriers Sell Annuities Industry reports say sales of annuities are up. That is not good news for consumers. These insurance products are costly, complicated, and risky and tie up your money for years, hostage to penalties if you need to […]

ATTORNEY NEWSLETTER Preventing Financial Exploitation of Seniors Legislature Considers Expanding List of Mandated Reporters of Financial Elder Abuse The California Elder Abuse and Dependent Adult Civil Protection Act mandates reporting of suspected financial abuse of an elder or dependent adult.  Cal. Welf. & Inst. Code § 15630.1.  A recently introduced bill in the California […]

ATTORNEY NEWSLETTER Guggenheim Partners/Security Benefit Life Insurance Company Total Value Annuities (TVAs) The life insurance and annuity attorneys at Evans Law Firm, Inc. represent clients who have suffered losses on all types of life insurance and annuity contracts, including indexed annuities and equity indexed universal life insurance. Indexed annuities are […]

ATTORNEY NEWSLETTER Preventing Financial Exploitation of Seniors Older persons control more than 70 percent of U.S. disposable income. Many also have sizeable retirement savings.  As a result, older Americans are targets for insurance agents, financial advisors and investment planners with products to sell.  Many of those products, particularly ones like […]

ATTORNEY NEWSLETTER Understanding Risks and Downsides Insurance carriers and agents and financial advisors push life insurance in any form: term life insurance, whole life insurance, and universal life insurance. Whole life insurance and universal life insurance pay higher commissions than term life insurance (the premiums are higher too) so pay […]

ATTORNEY NEWSLETTER Caregivers and Financial Elder Abuse Keep Checks, Credit and ATM Cards, Valuables and Important Papers in a Safe Place Accessing Your Bank Accounts Whenever a stranger is in an elderly person’s home, the senior’s identity, valuables, credit cards, bank accounts and important papers are all at risk. Unscrupulous […]

ATTORNEY NEWSLETTER How Insurance Agents Financially Exploit Seniors Unscrupulous insurance agents can really wreak havoc on a senior’s finances. Agents prey on seniors’ anxiety over income security in a drive to sell commission-generating annuities and life insurance, including whole life, universal and equity-indexed policies.  In that drive for commissions, agents […]

ATTORNEY NEWSLETTER Beware Annuities, Whole Life and Equity-Indexed Life Insurance  Consider the Drawbacks and Downsides Insurance agents and financial advisors push annuities and whole and equity-indexed life insurance as part of retirement savings plans, particularly on seniors or persons getting close to retirement and concerned about future income levels. Beware.  All of […]

ATTORNEY NEWSLETTER Beware Fixed Index Annuities Phantom Bonuses and Other Downsides Insurance agents and financial advisors use the current volatile stock market environment to push fixed indexed annuities, particularly on seniors or persons getting close to retirement and concerned about future income levels. Industry reports say sales are up. Products […]

ATTORNEY NEWSLETTER Keeping Retirement Savings for Yourself Avoid Deferred Annuities With Fees and Surrender Charges 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 equally important. Insurance agents, financial […]