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

Dec 13, 2018 by |

California and Alameda County Annuity Fraud and Financial Elder Abuse Attorney: Annuity Fraud on Seniors


Unsuitable Sales, Improper Exchanges, High Fees, Tying Up Your Money

Seniors Beware

Unscrupulous advisors and insurance agents, hungry for commissions, push annuities on seniors worried about income levels for their later years. The sales pitches rev up as markets turn volatile and promises of guaranteed rates sound good.  The Alameda County annuity and financial elder abuse attorneys at Evans Law Firm, Inc. urge you to resist the hype.  We represent seniors who have lost money on variable and fixed annuities through high commissions and fees, withdrawal charges and tax bills as a result of the sales and exchanges of unsuitable or inappropriate annuities and other fraud. If you or someone you know is over 60 and lives in California and is a victim of annuity fraud in Alameda County or elsewhere in California, call us today at 415-441-8669. 

Annuities are expensive, risky insurance hybrids. Claims of returns that beat the market really are too good to be true once these complex contracts start.  Upfront commissions, annual maintenance fees, charges for extra coverages (known as “riders”) and penalties on surrenders and withdrawals wipe out promised returns.  Perhaps worst of all, your money is tied up for years and subject to these penalties if you need a withdrawal. Agents gloss over the details in their race to sell.  Never agree to a sale until you’ve had a chance to review the proposal with a professional with nothing to gain from your purchase and always consult your tax advisor before any purchase or exchange of an existing annuity for a new one.

Exchanges and replacements of any kind of annuity can result in serious financial harm to consumers. Typically, the exchange is a commission-driven recommendation by an agent or advisor that results in surrender penalties, tax bills, and new charges for the defrauded consumer – but a new sales commission for the agent. When the consumer is a senior the agent’s conduct may constitute financial elder abuse.  Our attorneys pursue all remedies available to senior victims of this kind of financial elder abuse.  California law provides restitution (getting your money back), extra damages (to punish the fraudulent conduct) and awards of attorneys’ fees and costs to the senior forced to bring an action against the wrongdoers. 

Contact Us

If you or a loved one been the victim of annuity fraud in Alameda County, or in any California county, contact Ingrid M. Evans and the other Evans Law Firm annuity fraud attorneys 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 or toward an equitable settlement.  We 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.

Annuities and life insurance produce large sales commissions for brokers but are often inappropriate products for consumers, especially seniors. Leading providers and distributors of life insurance and fixed, variable and fixed indexed deferred 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

Ameriprise Financial/Securities America, Inc.

Athene Annuity & life Assurance Company

Athene Annuity and Life Company

Athene USA

Aviva Annuity and Life Insurance Company

AXA Equitable Life Insurance Company/AXA US

Bankers Life Insurance and Casualty Company

Brighthouse Financial, Inc./MetLife

Citigroup Global Markets, Inc.

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 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/Securian Financial

National Western Life Insurance Company

Nationwide Life Insurance Company

New York Life Insurance Company

North American Company for Life and Health Insurance

Northwestern Mutual Life Insurance Company

Oxford Life Insurance Company

Pacific Life Insurance Company

Principal Financial Group

Prudential Life Insurance Company

Raymond James Insurance Group

RiverSource Life Insurance Company/Ameriprise Financial

Securian Financial/Minnesota Life Insurance Company

Securities America, Inc./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

Wells Fargo Advisors

            World Financial Group Insurance Agency, Inc.

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Hear What Our Clients Have To Say

"Contacted Ingrid on an elder financial abuse case - she was responsive, knowledgeable, and easy to work with. You can tell she is passionate about this area of law and has the experience to back it up. She is an excellent choice if you are looking for a results driven attorney and highly effective advocate."
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