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Sep 10, 2015 by |

Life Assurance: Choosing the Right Policy


If you’re thinking of buying Index Universal Life Insurance or Variable Universal Life Insurance, you might want to think again. These types of Life Insurance rarely return what they cost, and frequently fail to perform anywhere near what consumers are told. Before taking that risk, we want to help you learn the ins and outs of these complicated and often dangerous policies.

Insurance salespeople often sell their product with the assistance of illustrations meant to represent the return on investment and long-term profitability their plans offer. In many cases, their desire to sell the policy trumps their concern for their customers, and these illustrations can be grossly misleading. Listed rates can be significantly inflated, and when they fail to make those rates, policyholders suffer. These rates may not be guaranteed, and there is no recourse for those who purchased them in good faith. All this tarnishes the reputation of some life insurance companies.

These lower rates mean that the policy frequently expires significantly sooner than claimed, and seniors and retirees are left holding the bag. It is impossible to construct a cohesive financial plan for old age without accurate information from insurers and advisors, and withholding or obfuscating important life insurance information handicaps those trying to provide for themselves and their family.

Allstate and other major insurers such as Minnesota Life, Penn Mutual Life, Midland National Life, National Life, AXA Equitable Life, Lincoln Financial, Pacific Life, Transamerica Life, and John Hancock Life sell Index Universal and Variable Universal Life Insurance, recommending it as part of retirement planning.

The Evans Law Firm handles elder abuse (physical and financial), elder law and estate planning, consumer fraud class actions, particularly those involving insurance, securities, and banking fraud claims, as well as Qui Tam (whistleblower/false claims), IRS tax fraud lawsuits, securities fraud whistleblower reward lawsuits, retaliation and employment litigation.

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