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

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

Jul 4, 2018 by |

Alameda County and California Elder Abuse, Annuities and Securities Attorneys: Deferred Annuities and Seniors


Seniors Beware of Deferred Annuities

The devil’s in the details. The old idiom is true of much in life. Insurance contracts surely live up to the saying, and none more so than complicated annuities. The Alameda County and California financial elder abuse, annuities and securities attorneys at Evans Law Firm, Inc. frankly advise against them, particularly for seniors.[1]  Our attorneys litigate every day on behalf of seniors harmed by these complex contracts.  If you or a loved one is over 60 and live in California and have been sold an inappropriate or unsuitable deferred annuity or suffered a loss from a full or partial surrender, call the California annuity and securities lawyers today at Evans Law Firm (415)441-8669.  We can review a California senior’s contract for free and may be able to help. 

Deferred annuities are primarily sold as tax deferred retirement investments. But it’s the details that sting: sales commissions, surrender penalties, and fees and other charges are often buried in the pages of these long contracts and overlooked in sales brochures. Eager to book a sale, agents may skip the details, avoid complete explanations of how the policies work, and gloss over future fees and withdrawal penalties.  Agents may ignore the tax consequences of withdrawals, which can be disastrous because withdrawals are taxed at ordinary income rates.

Withdrawals are also subject to surrender charges often as high as 15%. Be careful committing to these illiquid investments; if you need to withdraw your money during the surrender period (often as long as 15 years) you will pay a substantial penalty. Always remember that you already own tax deferred retirement savings in your Social Security account, 401(k)s, and your employer’s pension plan.  If you’re considering a purchase at all, seek the advice of investment professionals without any stake in your purchase and always consult your tax advisor before making a purchase.

Contact Us

If you or a loved one is over 60 and a resident of Alameda County or anywhere else in California and have been sold an inappropriate or unsuitable variable annuity or suffered a loss on a full or partial surrender of a variable annuity, contact the Alameda County and California elder abuse, annuity and securities attorneys at the Evans Law Firm at (415) 441-8669, or by email at <a href=””></a>. Our attorneys have experience with complex financial contracts and large insurance companies.  We can help guide your case through a jury trial, FINRA Arbitration, or toward an equitable settlement.  We also handle cases involving physical and financial elder abuse, qui tam and whistleblower law, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.


Some of the leading providers and distributors of life insurance and annuities in California are listed below. We are not in any way suggesting that any of these carriers or distributors has done anything wrong.  Rather, the list is provided solely as a reference for our 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

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

Brighthouse Financial, Inc./MetLife

Crump Life Insurance Services, Inc.

CUNA Mutual Group/CMFG Life Insurance Company

EquiTrust Life Insurance Company

Fidelity & Guaranty Life Insurance Company

Forethought Life Insurance Company/Global Atlantic Financial Group

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

Massachusetts Mutual Life Insurance Company

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

Nationwide Life Insurance Company

New York Life Insurance Company

Northwestern Mutual Life Insurance Company

Pacific Life Insurance Company

Principal Financial Group

Prudential Life Insurance Company

Raymond James Insurance Group

RiverSource Life Insurance Company/Ameriprise Financial

Security Benefit Life Insurance Company/Guggenheim Partners

Symetra Life Insurance Company

Transamerica Life Insurance Company

Unum Life Insurance Company of America

Voya/Reliastar Life Insurance Company

World Financial Group Insurance Agency, Inc.

[1] We do not provide investment or tax advise but can represent you if you have suffered losses on annuities through a partial or full surrender including any tax losses you may have sustained.

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

"I contacted Attorney Ingrid Evans for advice about a financial elder abuse case. She was extremely knowledgeable, bright and informative. I highly recommend her. I am an attorney myself, and know when I am talking to a another excellent attorney."
Posted By: Terry Kolkey Attorney

Read More Reviews