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Jul 11, 2017 by |

Marin County Annuity and Insurance Fraud Attorney: Whole Life Policies

ATTORNEY NEWSLETTER

The Perils of Whole Life Policies

Whole Life Policies

Whole life insurance policies are often unsuitable for the individuals who are pushed into buying them. In an ideal world, whole life policies were created to maximize the prospect of high interest rates and increasing stock prices which, again ideally, would decrease premiums and elevate the policy’s cash value. If you purchased a whole life policy in California and were over the age of 60 when you purchased and are experiencing problems with your policy, call Evans Law Firm today at 415-441-8669. The consultation is free, and cases of this type are taken on a contingency basis, meaning we only collect money if you do too.

The Problems

It is important to keep in mind that we do not live in an ideal world. In reality,whole life policies often do not live up the expectations that purchasers had when they signed on, and they can drain bank accounts quickly. Often, cash value dwindles as the stock market does not perform as hoped for (or as promised), and the policy’s accumulated value cannot meet the rising premiums in later years. Consequently, cash flow decreases or disappears, and investors are sometimes left with virtually nothing after they believed their policy could serve as a retirement nest egg.. Instead, maintaining the policy becomes an unexpected financial drain. These “not as promised” and “not as advertised” disadvantages with whole life policies happen often, and you may be one of the people affected by this issue.

Bottom Line

Whole life policies may not be the proper choice for you and your financial situation. If you purchased a whole life policy in California and were over the age of 60 when you purchased and are experiencing problems with your policy, call Evans Law Firm today at 415-441-8669. The consultation is free, and cases of this type are taken on a contingency basis, meaning we only collect money if you do too. Don’t be taken advantage of by insurance companies and agents who sold you an unsuitable policy.

Some of the major whole life insurance providers in California are:

Contact Us

If you or a loved one has suffered a loss on a whole life insurance policy in Marin County, or in any California county, contact the Evans Law Firm life insurance and annuity attorneys at (415) 441-8669, or by email at info@evanslaw.com. Our attorneys have experience with complex financial contracts and large insurance companies. We can help guide your case through a jury trial or toward an equitable settlement. We handle cases involving physical and financial elder abuse, qui tam and whistleblower law, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.

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