ATTORNEY NEWSLETTER
“Retirement Counseling” Seminars And Workshops
Be Wary Of Annuity Sales
Soon-to-retire federal employees in Los Angeles and Orange County and throughout California should use caution if they receive a flyer or see a poster for a “counseling session”, “workshop” or seminar advertised to give retirement counseling. You may just receive a mailer encouraging you to contact a retirement or benefits specialist without any seminar or workshop. Before you take up any of these invitations, you should understand how these seminars, workshops and other “counseling” sessions may operate.
Don’t be misled by the name and advertising: the sponsoring organization may not be affiliated with the federal government or any governmental agency. Retirement “counseling” seminars are sometimes held in union halls, hotels or other spaces accommodating large groups. The seminar host may in fact be insurance agents. Flyers for these counseling sessions talk about counseling employees regarding their federal 401k plan, known as the Thrift Savings Plan (TSP). However, retirement seminars may be a gateway to selling attendees annuities or other insurance products.
The products of Nationwide Life and Annuity Insurance Company (“Nationwide”) and other insurance companies may be recommended by your seminar host. Recommended Nationwide products may include fixed indexed annuities sold under the trade names Nationwide New Heights©, Nationwide High Point 365©, and Nationwide High Point©. These annuity contracts, like deferred annuities generally, include complex rules regarding returns and investment strategies, fees and costs in the details, and penalties for early withdrawals, known as surrenders.
If you or a loved one lives in Orange County and after attending a counseling seminar or workshop was sold an annuity or life insurance product including a Nationwide New Heights© annuity issued by Nationwide Life and Annuity Insurance Company, call us at Evans Law Firm, Inc. (888)50-EVANS (888- 503-8267). You may have certain legal rights. Please call if you would like an attorney to investigate whether you have a potential claim.
Contact Us
If you or a loved one lives in Orange County and after attending a counseling seminar or workshop was sold a Nationwide Life and Annuity Insurance Company deferred annuity including any Nationwide New Heights©, Nationwide High Point 365 ©, or Nationwide High Point © policy and have selected the J.P. Morgan MOZAIC I Index and/or the J.P. Morgan MOZAIC II Index under your contract, contact Ingrid M. Evans at Evans Law Firm, Inc. toll free at (888)50-EVANS (888-503-8267), or by email at <a href=”mailto:info@evanslaw.com”>info@evanslaw.com</a>.
