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PHONE: 415-441-8669 | TOLL FREE: 888-50EVANS

Nov 3, 2023 by |

Los Altos Annuity and Financial Elder Abuse Attorneys: Problems With Fixed And Fixed Indexed Annuities


Fixed And Fixed Indexed Annuities Are Complex

Insurance Policies Not Fund Investments

Do Not Be Rushed Into A Sale

Market volatility and market jitters are often talking points when life insurance agents propose the “safety” of fixed and fixed indexed annuities.  Don’t buy it, because that is not the entire story. Fixed annuities promise a fixed rate of return and fixed indexed annuities promise a combination of the upside of market growth with the “safety” of a fixed rate of return should the market take a downturn.  If the description sounds complex, it is.  Some of these contracts run to 100 pages. Our lawyers recommend avoiding deferred annuities of any kind, including fixed and fixed indexed annuities, especially for seniors, because sales commissions are high, policies are complex, and tie up your money for many years.  If you’re over 60 and live in Los Altos or elsewhere in Santa Clara County, San Francisco, or anywhere in California and have suffered a loss due to cancellation, replacement, full or partial surrender, or high fees on any type of annuity, call the annuity attorneys at Evans Law Firm, Inc. today at 415-441-8669 (or toll free at 1-888-50EVANS) for a free review of your policy.  A list of major life insurance and annuity carriers in California appears below.

Surrender Penalties

Every deferred annuity, whether fixed or a fixed indexed hybrid, has a surrender period during which penalties (possibly 10% or more) will be imposed on any withdrawals over a certain minimum amount.  These surrender periods can last many years and can put any policyholder, particularly a senior, in a bind if they need their money. 

Commissions, Fees and Penalties Erode Returns

Even if you leave all your money in your contract, returns may never approach promised returns.  Large upfront commissions and administrative fees will erode any real return.  If the agent sells you an “income rider” guaranteeing (theoretically) a future rate of income, the annual fee for that rider will further erode your return.  You may never live to recoup anywhere near the annual costs.  Finally, keep in mind that annuities are not insured investments like bank accounts and the insurance carrier’s promise to pay benefits is only as good as the carrier’s financial ability to do so.

Contact Us

If you or a loved one has suffered loss on a fixed annuity or any other annuity in Loa Altos or elsewhere in Santa Clara County, San Francisco or California call Ingrid M. Evans and the other attorneys at Evans Law Firm at (415) 441-8669 (or toll free at 1-888-50EVANS)  or by email at <ahref=””></a>. Our attorneys have experience with complex financial contracts and large insurance companies. 

Leading providers and distributors of life insurance and fixed, variable and fixed indexed deferred annuities in California are listed below.  We are not in any way suggesting that any of these carriers or distributors has done anything wrong.  Rather, the list is provided solely as a reference for our readers.

AIG/American General Life Insurance Company

Allianz Life Insurance Company of North America

American Equity Investment Life Insurance Company

American General Life Insurance Company/AIG

American International Group, Inc. (AIG)

American National Life Insurance Company

Athene Annuity & Life Assurance Company

Athene Annuity and Life Company

Athene USA

Aviva Life Insurance Company

AXA Equitable Financial Services, LLC

AXA Equitable Life Insurance Company/AXA US

AXA Advisors, LLC

Brighthouse Financial, Inc./MetLife

EquiTrust Life Insurance Company

Fidelity & Guaranty Life Insurance Company

Genworth Financial, Inc.

Genworth Life and Annuity Insurance Company

Genworth Life Insurance Company

Guggenheim Partners, LLC

Guggenheim Partners/Security Benefit Life Insurance Company

ING USA Annuity and Life Insurance Company

Jackson National Life Insurance Company

John Hancock Life Insurance Company

Lincoln Benefit Life Company

Lincoln Financial Group

Massachusetts Mutual Life Insurance Company

Metlife/Metropolitan Life Insurance Company/Brighthouse Financial, Inc.

Minnesota Life Insurance Company

Nationwide Investor Services Corporation (NISC)

Nationwide Life and Annuity Insurance Company

Nationwide Life Insurance Company

New York Life Insurance Company

Northwestern Mutual Investment Services, LLC

Northwestern Mutual Life Insurance Company

Northwestern Mutual Wealth Management Company

Pacific Life & Annuity Company

Pacific Life Insurance Company


Security Benefit Corporation

Security Benefit Group, Inc.

Security Benefit Life Insurance Company/Guggenheim Partners

Security Investors, LLC

Security of Denver Life Insurance Company/Voya

Transamerica Life Insurance Company

Voya Financial Advisors

Voya/Reliastar Life Insurance Company

World Financial Group Insurance Agency, Inc.

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