Category: Life Insurance Fraud

ATTORNEY NEWSLETTER Indexed Universal Life Policy Disadvantages Escalating Premiums Complexity And Surrender Penalties Evans Law Firm, Inc. generally cautions against indexed universal life insurance and deferred annuities for senior consumers because these insurance products are expensive, complicated, and tie up invested money for long periods of time.  Deferred annuities are […]

ATTORNEY NEWSLETTER Life Insurance Churning Millions of older Americans have whole life insurance policies with accumulated cash value. Typically, they were sold those policies when they were much younger as a tax deferred savings vehicle, passing the accumulation on to their children when they died.  Some insurance agents spot these […]

ATTORNEY NEWSLETTER Life Insurance Salesmen Convicted on Felony Charges for Fraud The Case of Life Insurance Fraud Earlier this year, two life insurance salesmen were arrested in California and charged with multiple charges, including identify theft, insurance fraud, and forgery. It is alleged that two agents both in their thirties, […]

ATTORNEY NEWSLETTER The Sham That Is Whole Life Insurance Whole Life Insurance Despite what an insurance agent might tell you, you really can get by in life without whole life insurance. We at Evans Law Firm have spent years representing clients who’ve lost money on whole life insurance. Big commissions, […]

ATTORNEY NEWSLETTER Burial Insurance and Life Insurance Americans spend over $800 billion per year on life insurance and funeral and burial insurance. Burial policies are a fraction of the total premium volume. Burial policies are like small whole life policies without the lifetime/cash value upside. Limits (typically $5000-25,000) and premiums […]

Pacific Life Insurance is headquartered in Newport Beach, California and was founded in 1868. Pacific Life has selling agreements with more than 850 financial planning firms, banks, securities broker-dealers, and other financial institutions throughout the United States. It offers annuities and life insurance policies, and is the number one seller […]

Accordia Life is a subsidiary of Global Atlanta Financial Group Limited, which is a financial services group company with 9 offices and more than $40 billion in assets. Accordia Life offers annuities and life insurance policies, including several different indexed universal life insurance options. Accordia’s website describes indexed universal life […]

Aviva is headquartered in Britain and offers insurance policies to 34 million customers spread throughout 15 different countries. Aviva USA’s life insurance line had approximately $10 million in statutory admitted assets at the end of 2012, when a company called Athene made the decision to purchase Aviva USA from Aviva […]

Athene USA is a subsidiary of Athene Holding, Ltd.  It is licensed to sell products in all 50 states throughout the U.S. There are approximately 25,000 independent agents who sell annuities and insurance products offered by Athene Holdings. More than 769,000 policies have been issued by this major insurance provider, […]

Insurance Marketing Organizations (IMOs), also known as independent marketing organizations, financial marketing organizations, or national marketing organizations, may have been misleading the public when it comes to promoting Indexed Universal Life insurance policies (IULs).