California insurance fraud attorneys are investigating potential claims against Prudential Life Insurance Company of America related to the sale of deferred annuities and 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.
Prudential Life Insurance Company of America is a division of Prudential Financial, Inc. The company website states, “Our Individual Annuities segment manufactures and distributes individual variable and fixed annuity products primarily to the U.S. mass affluent market.” Their description of the company’s annuities products includes, “we’ve taken the best features of traditional variable annuities and developed solutions that offer more control, more options, and more opportunities for growth.” Brokers often push the sale of deferred annuities, due to the higher commission rate they receive on these sales, according to California annuity and insurance fraud attorneys.
With regards to Prudential’s life insurance products, the website says: “Our Individual Life segment manufactures and distributes individual variable life, term life and universal life insurance products, primarily to the U.S. mass middle, mass affluent and affluent markets.” The site lists term life, universal life, indexed universal life, survivor universal life, and variable universal life as types of life insurance the company offers.
The Evans Law Firm, with offices in San Francisco, Los Angeles, and Sonoma, handles both insurance fraud and annuities fraud cases. If you are or were a Prudential Life Insurance Company of America 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 firstname.lastname@example.org.