ATTORNEY NEWSLETTER Annuities Are Expensive, Complex, and Illiquid Big Fees, Modest Yields, and Withdrawal Charges Annuity carriers and agents use fear tactics to push annuities. One agent recently claimed on the radio that “It could take a lifetime to make up your losses in the stock market.”  Not really.  The […]

ATTORNEY NEWSLETTER Healthcare Fraud on the Government The Three Pillars of Government Enforcement and Prevention Whistleblowers Rewarded Healthcare fraud against Medicare and other government health care programs amounts to billions of dollars every year. Whistleblowers initiate the majority of enforcement and recovery actions and typically bring their cases under three […]

ATTORNEY NEWSLETTER Caregivers and Financial Elder Abuse Caregiver abuse is a real danger for seniors here in San Francisco and throughout California. In a recent example of just how vulnerable some seniors are, prosecutors in Southern California[1] last week accused one caregiver of 82 felony counts of embezzling money from […]

ATTORNEY NEWSLETTER Fraud Up as Annuity Sales Increase Unsuitable Products and Churning Annuity sales are up and so are cases of fraud, especially on seniors. The fraud on seniors varies but typically involves either the sale of unsuitable products or unlawful “churning,” where agents convince annuity owners to trade one […]

ATTORNEY NEWSLETTER The Importance of Jurors and Jury Trials in Civil Cases Rights Depend on a “Vital and Flourishing” Jury System Civil juries are an essential part of our democracy. A robust jury system offers a forum where individual rights can be vindicated and where the voice of the people […]

ATTORNEY NEWSLETTER FINRA Troubled by Recommendations of Unsuitable Annuities Over-Concentration in Annuities The Financial Industry Regulatory Authority (FINRA) polices advisor recommendations of investment products including annuities. The agency recently reported a disturbing trend of advisor recommendations of variable annuities in particular as unsuitable products for certain consumers. The agency also […]

ATTORNEY NEWSLETTER Beware Fixed Index Annuities Phantom Bonuses and Other Downsides Insurance agents and financial advisors are increasingly using our low interest rate/volatile stock market environment to push a product called fixed indexed annuities. Agents claim the contracts offer the upside of market increases (the “indexed” part) with downside protection […]

ATTORNEY NEWSLETTER Keeping Retirement Savings for Yourself 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 advisors, brokers, and retirement planners push annuities and […]

ATTORNEY NEWSLETTER Beware the Hard-Sell Free Lunch High Pressure Sales Seminars Have you ever come back to your car at a shopping mall and found a free lunch flier on your windshield? Or maybe a invitation by mail to a free dinner seminar?  Some insurance agents are notorious for relying […]

ATTORNEY NEWSLETTER Genworth Life and Annuity Insurance Company Whole Life Insurance Required Disclosures to Senior Policyholders If you are over age 60, live in Marin County or elsewhere in California, and have cancelled (or surrendered) a whole or universal life insurance policy issued by Genworth Life and Annuity Insurance Company […]