Category: Elder Financial Abuse

ATTORNEY NEWSLETTER Policyholder Risks on Universal Life Insurance Hitting Seniors Hardest A hidden risk that premiums can skyrocket lies in universal life insurance. Unlike term and whole life insurance, universal life policies allow flexible premium payments but those payments can increase dramatically over time leaving consumers with the poor choice […]

ATTORNEY NEWSLETTER Beware Fixed Index Annuities Phantom Bonuses and Other Downsides Insurance agents and financial advisors use this low interest rate/volatile stock market environment to push fixed indexed annuities, particularly on seniors or persons getting close to retirement and concerned about future income levels. Agents claim the contracts offer the […]

ATTORNEY NEWSLETTER Financial Exploitation of Seniors Restraining Orders and Repeat Offenders Criminals who prey on seniors are often repeat offenders, stealing cash, credit cards and personal property from vulnerable victims. The victimized senior may have a restraining order against the repeat offender to protect him or her against continued harassment, […]

ATTORNEY NEWSLETTER FINRA Continues Fines on Sales of Unsuitable L Share Annuities Variable annuities are sold as B-share and L-share contracts.  B-share annuities are the more common and sold to investors with long-term investment horizons. B-shares typically have lengthy surrender charge periods.  L Share Variable Annuities are a type of […]

ATTORNEY NEWSLETTER Guggenheim Partners/Security Benefit Life Insurance Company Total Value Annuities (TVAs) The life insurance and annuity attorneys at Evans Law Firm, Inc. represent clients who have suffered losses on all types of life insurance and annuity contracts, including indexed annuities. Indexed annuities are hybrid annuities that offer both a […]

ATTORNEY NEWSLETTER Preventing Fraud and Abusive Practices Always Check Backgrounds Before You Buy Hopefully, you already check the backgrounds of any contractors or caregivers or others you let in your home to do work. Checking the background of anyone trying to sell you an investment is equally important!  The Securities […]

ATTORNEY NEWSLETTER FINRA Levies Big Fines in 2018 for Sales of Unsuitable Annuities and Other Misconduct The Financial Industry Regulatory Authority (FINRA) polices financial advisor fraud including recommendations of unsuitable annuities. The agency detected a disturbing trend of sales to consumers, including seniors, of unsuitable products and “largely unsupervised” inappropriate […]

ATTORNEY NEWSLETTER Financial Elder Abuse on the Rise in San Francisco Law Enforcement Only Investigates a Fraction of the Cases Cases of elder and dependent adult abuse in the City jumped 18 percent in 2017, according to a report released Tuesday by the Family Violence Council in San Francisco. While […]

ATTORNEY NEWSLETTER 100% of Seniors at High Risk of Financial Elder Abuse Criminals find seniors easy targets for financial elder abuse and theft. All seniors are at risk. While the elderly may be alert to well-publicized scams, financial elder abuse may often be slow and subtle and come from caregivers, […]

ATTORNEY NEWSLETTER FINRA Concerns With L Share Annuities L Share Variable Annuities are a type of variable annuity where the surrender charge period under the contract is shortened to three or four years but administrative fees and mortality expense rates are higher. L-Shares are also often sold with long-term riders […]