Category: Annuities Fraud

ATTORNEY NEWSLETTER Thanks to new legislation recently signed by Governor Jerry Brown, insurance carriers in California will no longer be allowed to levy surrender charges against a policy’s death benefit. California elder abuse attorneys say that the law, which takes effect on January 1, 2016, will protect more senior citizens. […]

ATTORNEY NEWSLETTER A recent annuity fraud case in California illustrates the danger that annuities can pose to people’s finances, especially when it comes senior citizens. An insurance agent in Palm Desert was recently sentenced to more than nine years in prison and ordered to pay $3.4 million in restitution for […]

ATTORNEY NEWSLETTER Annuities are not always a suitable investment for the elderly, and they should educate themselves in order to avoid making a bad investment. Senior citizens hold two-thirds of the wealth in this country and the elderly population is increasing. As a result, elder financial fraud is growing as […]

ATTORNEY NEWSLETTER Affinity fraud is a type of investment scam that targets members of certain groups, such as religious or ethnic communities, or the elderly. It usually involves a fake investment, or an investment where the scammer has left out important details. According to San Francisco consumer fraud attorneys, affinity […]

ATTORNEY NEWSLETTER LIMRA Secure Retirement Institute has released its individual annuity company ranking list for 2014, The ranking list reveals some trends, including strong competition among carriers in the fixed annuity sector. According to the data from LIMRA Secure Retirement Institute, Jackson National was the overall winner for combined selling […]

ATTORNEY NEWSLETTER Indexed universal life (IUL) insurance illustrations often appear compelling, and can outperform traditional universal life (UL) illustrations. However, these illustrations can be misleading and set unrealistic expectations for consumers. It is important that consumers who are considering these policies understand these illustrations in order to make a suitable […]

ATTORNEY NEWSLETTER Apollo Global Management spent millions of dollars to invest in Caesar’s and Harrah’s casinos in 2013 to keep the company afloat, getting the cash from its life insurance division, Athene Life Insurance and Annuity Company. Indirectly, it became Athene Life Insurance and Annuity Company’s investment in the casino […]

ATTORNEY NEWSLETTER California stockbroker fraud attorneys want the public to be aware of potential stock tip scams. In one common “stock tip” scheme, people receive a call from a stranger. The message sounds like the caller has accidentally reached the wrong machine, and is leaving a hot investment tip for […]

ATTORNEY NEWSLETTER The Financial Industry Regulatory Authority (FINRA) has announced tougher sanctions for those who commit fraud or make unsuitable recommendations to clients, as well as increased suspensions under the self-regulator’s suitability rules. The National Adjudicatory Council for Financial Industry Regulatory Authority, its appellate tribunal for disciplinary cases, released the […]

ATTORNEY NEWSLETTER The Financial Industry Regulatory Authority (FINRA) has launched a toll-free line to support senior citizens and advise them on financial matters. The FINRA Securities Helpline for Seniors is designed to help older investors get neutral, informed advice regarding their brokerage accounts and investments, and avoid seniors from becoming […]