ATTORNEY NEWSLETTER Understanding Immediate Annuities An immediate annuity is an insurance contract where the policyholder makes a single lump-sum payment and begins receiving back almost immediately regular income payments. Imagine, for example, you’re over 60 and sell your home and decide to put some or all of the proceeds into […]
ATTORNEY NEWSLETTER Understanding Riders in Annuities The Death Benefit Rider Sales Pitch Riders are endorsements added to annuity contracts sold to enhance the benefits payable under those contracts. There are several types of riders, two of the most common being income riders and death benefit riders. We have written on […]
ATTORNEY NEWSLETTER Beware Fixed Index Annuities Americans pump billions into complex fixed indexed annuities every year. Insurance agents push the annuities as a safe bet in volatile markets – they’ll tell you the policy offers the upside of market increases (the “indexed” part) with downside protection (the “fixed” part). Advertised […]
California and San Mateo County Annuity and Financial Elder Abuse Attorneys: Should I Buy an Annuity?
ATTORNEY NEWSLETTER Understanding Annuities If you are over 60 and nearing retirement, the question of whether you should purchase an annuity as part of your retirement savings plan is likely to come up. Insurance agents and advisors, who stand to make a commission on any sale, promote annuities as important […]
San Francisco and California Elder Abuse, Annuity and Securities Attorneys: Financial Elder Abuse by Insurance Agents and Carriers
ATTORNEY NEWSLETTER Fighting Harm to Senior Citizens Insurance agents and carriers target seniors for expensive insurance products like life insurance and annuities that charge high premiums and pay big commissions but are unsuitable for the senior’s financial picture and station in life. After the policies are in place, seniors find […]
ATTORNEY NEWSLETTER Beware Fixed Index Annuities This week the Dow dropped nearly 1380 points in just two trading days. The plunge followed last week’s record advance. Whatever the explanations for these moves, it’s certain this market is volatile. Insurance agents push fixed indexed annuities in volatile markets – they’ll tell […]
San Francisco and California Financial Elder Abuse, Annuities and Securities Attorneys: Deferred Annuities and Seniors
ATTORNEY NEWSLETTER Seniors Beware of Deferred Annuities Deferred annuities are complicated insurance policies where the policyholder pays a premium today for a series of income payments in the future. Carriers and agents sell deferred annuities with fixed interest rates, variable rates, and in policies offering fixed and variable funds. All […]
San Francisco and California Securities Fraud and Financial Elder Abuse Attorneys: Commission-Based Retirement Accounts
ATTORNEY NEWSLETTER Fiduciary Rule No Longer Restraining Brokers Unfortunately, President Obama’s initiative to protect consumers from financial advisors who put their own interests before those of their clients has been destroyed by the current administration. Turning its back on consumers, the Trump Administration stalled and then rejected entirely the Department of Labor’s “fiduciary rule” […]
Marin County and California Financial Elder Abuse and Annuity Attorneys: Concealed Annuity Replacements
ATTORNEY NEWSLETTER The Trouble With Annuity Replacements Churning Annuities In shifting economic climates, insurance agents often recommend replacement of old annuity or whole or universal life insurance policies with promises of better, newer products. For most policyholders, especially seniors, replacements are inappropriate because they are expensive, can trigger tax liabilities, […]
San Francisco California Annuity, Securities and Financial Elder Abuse Attorney: FINRA Fines Securities America, Inc.
ATTORNEY NEWSLETTER Broker Pushed More Expensive Variable Annuities L-Share and B-Share Variable Annuities Not all variable annuities are the same. Carriers offer B-share contracts with long surrender charge periods and L-share policies with shorter surrender periods but higher fees and commissions. Both types of variable annuities may be inappropriate for […]