California annuity fraud attorneys are investigating potential claims against Genworth Financial related to the sale of deferred annuities, as well as life insurance policies. Deferred annuities, or fixed annuities, are types of long-term investments that often prohibit or preclude withdrawals for at least 10-20 years. Deferred or fixed annuities often also charge excessive fees for early withdrawal of funds.
The website of Genworth Financial states that Genworth provides financial security and protection through retirement income, life and long term care insurance, and related financial and wellness advisory services. Genworth Financial’s site also says, “our insurance companies have helped millions of policyholders achieve financial security through our life and long term care insurance and annuity products.”
Genworth Life and Annuity Insurance Company and Genworth Life Insurance Company have over $728 billion of life insurance in force as of December 2013. Their website states that they offer four types of life insurance—term life, whole life, guarantee universal life, and index universal life.
Brokers often push the sale of deferred annuities, due to the higher commission rate they receive on these sales, according to California annuity fraud attorneys.
The Evans Law Firm handles annuities fraud and other fraud cases. If you are or were a Genworth Financial annuity or life policy holder, please contact Evans Law Firm, Inc. for a free and confidential initial consultation at 415-441-8669 or via email at email@example.com.