Skip to Content
415-441-8669 | TOLL FREE: 888-50EVANS

PHONE: 415-441-8669 | TOLL FREE: 888-50EVANS

Apr 1, 2019 by |

Alameda County and California Financial Elder Abuse Attorneys: Financial Elder Abuse By Insurance Agents


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 may pressure seniors into sales at free lunch seminars, use a false pretext to approach a senior with insurance products, make unannounced home visits, sell unsuitable policies, or recommend replacement of a senior’s existing annuity or life insurance at a loss to the elder consumer. Whatever the misconduct, the resulting economic harm can be devastating; beware any recommendations of annuities or whole, universal or equity-indexed life insurance if you are a senior. The Alameda County financial elder abuse lawyers at Evans Law Firm, Inc. represent clients harmed as the result of insurance agents who financially exploit seniors by selling them these products.  If you or a senior loved one has been sold an inappropriate life insurance or annuity policy or has been a victim of undue influence, fraudulent concealment of information, securities fraud or any form of financial elder abuse, contact our attorneys today at (415) 441-8669 and we can help. 

Recommendations to replace any existing annuities or whole life, universal or equity-indexed life insurance policies you have are particularly bad. Whenever an agent convinces you to exchange an existing annuity or life insurance policy for a new one, the agent pockets a big commission on the new policy. The new policy ties up your money for an even longer time because the surrender period during which you’re penalized for withdrawals resets under a new policy.  The surrender of your old policy incurs surrender penalties and potential tax liability. 

Inappropriate sales tactics and sales, exchanges and charges violate insurance code protections for seniors and may constitute a taking of your money in violation of California financial elder abuse protections. See Calif. Welf. & Inst. Code § 15610.30(a) (broadly defining what constitutes financial elder abuse). Our Alameda County attorneys handle financial elder abuse cases every day.  Our lawyers know what constitutes financial elder abuse.  We know the legal standards of conduct expected of insurance agents, advisors and carriers and the disclosures they must make under California law.  California law provides restitution, extra damages, and awards of attorneys’ fees and costs incurred in bringing a successful action for financial elder abuse.  Our lawyers can help you get those remedies if you’ve been financially exploited.

Contact Us

If you are the victim of wrongdoing by an insurance agent we at Evans Law Firm can help you hold that agent to the highest standard of conduct the law prescribes. If you or a loved one has been a victim of a breach of fiduciary duty, annuity or securities fraud or financial elder abuse in Alameda County or elsewhere in California, contact Ingrid M. Evans and our other financial elder abuse and annuities attorneys at (415) 441-8669, or by email at <a href=””></a>. Our attorneys have experience with complex securities cases, arbitrations, and mediations; and complicated financial contracts and large insurance companies.  We can help guide your case through a jury trial or toward an equitable settlement.  We also handle cases involving physical and financial elder abuse, other types of qui tam and whistleblower cases, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.

Some of the leading providers and distributors of whole life, universal life, and equity-indexed life insurance and annuities in California are listed below. We are not in any way suggesting that any of these carriers or distributors has committed wrongdoing.  The list is provided solely as a reference for readers.

AIG/American General Life Insurance Company

Allianz Life Insurance Company of North America

American Equity Investment Life Insurance Company

American General Life Insurance Company/AIG

American National Life Insurance Company

Ameriprise Financial/RiverSource Life Insurance Company

Ameriprise Financial/Securities America, Inc.

Athene Annuity & Life Assurance Company

Athene Annuity and Life Company

Athene USA

Aviva Life Insurance Company

AXA Equitable Life Insurance Company/AXA US

Bankers Life Insurance and Casualty Company

Berkshire Hathaway Group

Berkshire Hathaway Life Insurance Company of Nebraska

Brighthouse Financial, Inc./MetLife

Citigroup Global Markets, Inc.

Crump Life Insurance Services, Inc.

CUNA Mutual Group/CMFG Life Insurance Company

Delaware Life Insurance Company

EquiTrust Life Insurance Company

Fidelity & Guaranty Life Insurance Company

Forethought Life Insurance Company/Global Atlantic Financial Group

Genworth Financial, Inc.

Genworth Life and Annuity Insurance Company

Genworth Life Insurance Company

Global Atlantic Financial Group/Forethought Life Insurance Company

Guardian Life Insurance Company

Guggenheim Partners/Security Benefit Life Insurance Company

ING USA Annuity and Life Insurance Company

Jackson National Life Insurance Company

John Hancock Life Insurance Company

Lincoln Benefit Life Company

Lincoln Financial Group

Massachusetts Mutual Life Insurance Company

Merrill Lynch Life Agency Inc.

Metlife/Metropolitan Life Insurance Company/Brighthouse Financial, Inc.

Minnesota Life Insurance Company

National Life Group

National Life Insurance Company/Equity Services, Inc.

National Western Life Insurance Company

Nationwide Life Insurance Company

New York Life Insurance Company

North American Company for Life and Health Insurance

Northwestern Mutual Investment Services, LLC

Northwestern Mutual Life Insurance Company

Northwestern Mutual Wealth Management Company

Oxford Life Insurance Company

Pacific Life Insurance Company

Principal Financial Group

Prudential Life Insurance Company

Raymond James Insurance Group

Reliance Standard Life Insurance Company/Tokio Marine Group

RiverSource Life Insurance Company/Ameriprise Financial

Securities America, Inc./Ameriprise Financial

Security Benefit Group, Inc.

Security Benefit Life Insurance Company/Guggenheim Partners

Security Investors, LLC

The Standard Life Insurance Company

Symetra Financial Corporation

Symetra Life Insurance Company

Transamerica Life Insurance Company

Unum Life Insurance Company of America

USAA Life Insurance Company

Voya/Reliastar Life Insurance Company

Wells Fargo Advisors

Western & Southern Financial Group

The Western & Southern Life Insurance Company

World Financial Group Insurance Agency, Inc.

Law Dragons 500 badge Million Dollar Advocates Forum SuperLawyers Badge Best Lawyers Badge Avvo

Our Passion For Justice

415-441-8669 888-50EVANS

Hear What Our Clients Have To Say

"After a year of frustration working with the insurance husband and I contacted Evans Law Firm. What a relief...within a month we had come to a resolution that was exceptable by all parties...THANK YOU EVANS LAW FIRM!"
Posted By: Linda Dieringer

Read More Reviews