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Jan 25, 2019 by |

Marin County and California Financial Elder Abuse Attorneys: Financial Elder Abuse By Insurance Agents

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 at a huge cost to the consumer.  Whatever the misconduct, economic harm to the senior can be devastating.  The financial elder abuse lawyers at Evans Law Firm, Inc. represent clients harmed as the result of insurance agents who financially abuse their elder clients.  If you or a senior loved one has been sold an inappropriate life insurance or annuity policy or has been a victim of undue influence, fraudulent concealment of information, securities fraud or any form of financial elder abuse, contact our attorneys today at (415) 441-8669 and we can help. 

Whenever an agent sells a new policy or convinces you to exchange an existing policy for a new one, the agent pockets a big commission. Any policy ties up your money for a long time, and withdrawals incur surrender penalties and potential tax liability.  Exchanges incur new fees and penalties and tax liabilities and resets the clock on the surrender period during which you’ll be charged for withdrawals. 

These inappropriate sales, exchanges and charges may constitute a taking of your money in violation of California elder abuse protections. See Calif. Welf. & Inst. Code § 15610.30(a) (broadly defining what constitutes financial elder abuse). Our California insurance and elder abuse attorneys handle financial elder abuse cases every day.  Our lawyers know what constitutes financial elder abuse.  We know the legal standards of conduct expected of insurance agents, advisors and carriers and the disclosures they must make under California law.  California law provides restitution, extra damages, and awards of attorneys’ fees and costs incurred in bringing a successful action for financial elder abuse.  Our lawyers can help you get those remedies if you’ve been financially exploited.

Contact Us

If you are the victim of wrongdoing by an insurance agent we at Evans Law Firm can help you hold that agent to the highest standard of conduct the law prescribes. If you or a loved one has been a victim of a breach of fiduciary duty, annuity or securities fraud or financial elder abuse in California, contact Ingrid M. Evans and our other financial elder abuse and annuities attorneys at (415) 441-8669, or by email at <a href=”mailto:info@evanslaw.com”>info@evanslaw.com</a>. Our attorneys have experience with complex securities cases, arbitrations, and mediations; and complicated financial contracts and large insurance companies.  We can help guide your case through a jury trial or toward an equitable settlement.  We also handle cases involving physical and financial elder abuse, other types of qui tam and whistleblower cases, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.

Some of the leading providers and distributors of life insurance and annuities in California are listed below. We are not in any way suggesting that any of these carriers or distributors has committed wrongdoing.  The list is provided solely as a reference for 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 National Life Insurance Company

Ameriprise Financial/RiverSource Life Insurance Company

Ameriprise Financial/Securities America, Inc.

Athene Annuity & Life Assurance Company

Athene Annuity and Life Company

Athene USA

Aviva Life Insurance Company

AXA Equitable Life Insurance Company/AXA US

Bankers Life Insurance and Casualty Company

Berkshire Hathaway Group

Berkshire Hathaway Life Insurance Company of Nebraska

Brighthouse Financial, Inc./MetLife

Citigroup Global Markets, Inc.

Crump Life Insurance Services, Inc.

CUNA Mutual Group/CMFG Life Insurance Company

Delaware Life Insurance Company

EquiTrust Life Insurance Company

Fidelity & Guaranty Life Insurance Company

Forethought Life Insurance Company/Global Atlantic Financial Group

Genworth Financial, Inc.

Genworth Life and Annuity Insurance Company

Genworth Life Insurance Company

Global Atlantic Financial Group/Forethought Life Insurance Company

Guardian Life Insurance Company

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

Merrill Lynch Life Agency Inc.

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

Minnesota Life Insurance Company

National Life Group

National Life Insurance Company/Equity Services, Inc.

National Western Life Insurance Company

Nationwide Life Insurance Company

New York Life Insurance Company

North American Company for Life and Health Insurance

Northwestern Mutual Life Insurance Company

Oxford Life Insurance Company

Pacific Life Insurance Company

Principal Financial Group

Prudential Life Insurance Company

Raymond James Insurance Group

Reliance Standard Life Insurance Company/Tokio Marine Group

RiverSource Life Insurance Company/Ameriprise Financial

Securities America, Inc./Ameriprise Financial

Security Benefit Life Insurance Company/Guggenheim Partners

The Standard Life Insurance Company

Symetra Financial Corporation

Symetra Life Insurance Company

Transamerica Life Insurance Company

Unum Life Insurance Company of America

USAA Life Insurance Company

Voya/Reliastar Life Insurance Company

Wells Fargo Advisors

Western & Southern Financial Group

The Western & Southern Life Insurance Company

World Financial Group Insurance Agency, Inc.

 

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