Category: Insurance Fraud

ATTORNEY NEWSLETTER Free Lunch Seminars and Ads Push “Financial Strategies” If It Sounds Too Good To Be True, It Usually Is Take Your Time and Do Your Homework Older adults are too often the targets of annuity salespeople intent on earning a sales commission.  Sales tactics include free lunch or […]

ATTORNEY NEWSLETTER Unscrupulous Agents Earn Commissions On Unsuitable Products Misrepresentations And High-Pressured Sales Tactics Evans Law Firm Represents Financial Elder Abuse Victims Financial elder abuse is the most common form of elder abuse in the United States; elder advocacy groups estimate that there are five million cases of financial elder […]

ATTORNEY NEWSLETTER Insurance Agent Accused Of Stealing Seniors’ Premium Payments Allegedly Swindles 93-Year Old Client Funeral Insurance Policy Scam Seniors are vulnerable to financial elder abuse from many quarters, and insurance agents are among those who can swindle seniors out of money.  In one recently reported case,[1] police and the […]

ATTORNEY NEWSLETTER Understand The Drawbacks Annuities Are Insurance Policies Not Investments Do Not Be Rushed Into A Sale Insurance agents use market downturns like the one we saw in March to push fixed indexed annuities as a “safe” alternative for retirement savings. Don’t let an agent sell you anything until […]

ATTORNEY NEWSLETTER California Insurance Fraud Whistleblower Cases Whistleblowers Rewarded The California Insurance Frauds Prevention Act (“CIFPA”) allows members of the public to file private whistleblower/qui tam suits against anyone who commits insurance fraud in the State of California.  Cal. Ins. Code § 1871.7.  There have been several large whistleblower settlements […]

ATTORNEY NEWSLETTER Downsides to Variable and Indexed Annuities Know the Risks Before You Buy Insurance industry figures show sales of variable and indexed annuities have increased in the past few months. Our litigators recommend against variable and indexed annuities for any consumers, especially seniors. All annuities are complicated and risky, […]

ATTORNEY NEWSLETTER California Insurance Fraud Whistleblower Cases Whistleblowers Rewarded The California Insurance Frauds Prevention Act (“CIFPA”) allows members of the public to file private whistleblower/qui tam suits against anyone who commits insurance fraud in the State of California.  Cal. Ins. Code § 1871.7.  There have been several large whistleblower settlements […]

ATTORNEY NEWSLETTER Dangers of Premium Payment Loans Tax Consequences Borrowing against a whole life insurance policy can have serious economic and tax consequences down the road if policyholders are not careful. Insurance agents use the fact that policyholders can borrow against the cash value of whole life policies as part […]

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 How Insurance Agents Can Financially Exploit Seniors Unscrupulous insurance agents can really wreak havoc on a senior’s finances. Agent misconduct ranges from outright theft to more subtle forms of exploitation such as selling unsuitable life insurance and annuity policies or churning a senior’s existing policies into new ones […]