Category: Annuities Fraud

ATTORNEY NEWSLETTER IOVAs: Investment Only Variable Annuities What are IOVAs and How Do They Work? Tax deferral is the key to successful retirement savings. IRAs, 401(k)s, SEPs and the like offer deferral but annual contribution limits are relatively low for high earners. Annuity carriers offer another possibility. Investment Only Variable […]

ATTORNEY NEWSLETTER Understanding Income Riders Income Riders Flood Annuities Market A flood of new income riders on annuities partially explains a recent boom in sales. Annuity sales hit a record $203 billion last year. Before you climb abroad this fast-moving train, make sure you understand what annuities are, what income […]

ATTORNEY NEWSLETTER The Downsides of Annuities Annuities Low interest rates are good if you’re young and need to borrow, but they’re not so good if you’re older, past your borrowing days, and looking for higher income in retirement. Some of us remember grandparents enjoying double-digit CD returns in the late […]

ATTORNEY NEWSLETTER Life Insurance Surrenders: The Tax Consequences Surrendering Life Insurance Whenever an insurance agent starts talking about surrendering or “changing” or “replacing” your life insurance policy, remember one important thing if nothing else: there will be tax consequences. We here at Evans Law Firm are not tax attorneys but […]

ATTORNEY NEWSLETTER Hidden Charges and Penalties in Annuities Are you someone who purchased an annuity while over the age of 60 in the State of California during the past year? Have you suffered from surrender charges due to that annuity? Many people have. And often senior purchasers of annuities are […]

ATTORNEY NEWSLETTER Beware Annuity Scams Agents Target Seniors Salesmen masquerading as “advisors” or “planners” run annuity scams every day in this country. Their favorite targets are seniors. Seniors make up 30 percent of fraud victims, according to consumer advocacy groups and we suspect the percentage would be much higher if […]

ATTORNEY NEWSLETTER Why You Should Think Twice About Annuities Annuities Annuities are a hot topic these days as one of our largest generations ages into retirement. The big question that they seem to have is: how do I ensure that I will not outlive my money? That is, how do […]

ATTORNEY NEWSLETTER Big Commissions on Unsuitable Annuity Exchanges FINRA Cracking Down Annuity salesman love to promote annuity exchanges, urging clients to swap one annuity for another. Big commissions incentivize salesmen for deals unsuitable to clients. For years, the Financial Industry Regulatory Authority (FINRA) has warned investors about the risks of […]

ATTORNEY NEWSLETTER Beware Annuity Sales Hype Always Think About Taxes Incomplete information is worse than none at all, particularly when it comes to annuities and taxes. The attached article is an example of incomplete sales talk; the salesman leaves out the most important component of sound retirement planning: tax deferral. […]

ATTORNEY NEWSLETTER FINRA Gives Individual $1 Million for Annuity Fraud Annuity Fraud Annuity fraud, especially targeting seniors, is a growing problem. Complex annuities are often sold to individuals as retirement investments when they are, in fact, an insurance product often wholly unsuitable to a client’s portfolio or future financial needs. […]