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Jul 17, 2018 by |

Marin County, San Francisco and California Elder Abuse, Annuities and Securities Attorneys: Deferred Annuities and Market Fluctuation


Beware of Deferred Annuities

Many analysts see a market correction on the horizon as severe as the drop ending the dotcom bubble back in 2000. Insurance agents seize on such negative forecasts when pushing seniors and those soon to retire toward fixed or indexed annuities and life insurance. Proceed with caution.  The Marin County and California financial elder abuse, annuities and securities attorneys at Evans Law Firm, Inc. advise against these products, particularly for seniors.[1]  If you or a loved one is over 60 and live in California and have been sold an inappropriate or unsuitable deferred annuity or suffered a loss from a full or partial surrender, call the California annuity and securities lawyers today at Evans Law Firm (415)441-8669.  We can review a California senior’s contract for free and may be able to help. 

Market jitters are understandable these days given the combined effects of trade wars and central bank reversals on the quantitative easing that has kept interest rates low for so long. While there is cause for concern, in our experience representing disappointed consumers, annuities and life insurance are not the answer to market anxiety.  These complicated contracts carry big upfront sales commissions, surrender charges on withdrawals, and other fees and charges which can wipe out any variable, fixed or indexed return, however attractive on paper. 

Surrender charges in particular often run as high as 15%. Be careful committing to these illiquid investments. If you need to withdraw your money during the surrender period (up to 15 years in some contracts) you will pay a substantial penalty.  Your withdrawal is also subject to tax.  You already own tax deferred retirement savings in your Social Security account, 401(k)s, and your employer’s pension plan.  If you’re considering the purchase of an annuity at all, seek the advice of investment professionals without any stake in your purchase and always consult your tax advisor before making a purchase.

Contact Us

If you or a loved one is over 60 and a resident of Marin County or elsewhere in California and have been sold an inappropriate or unsuitable variable annuity or suffered a loss on a full or partial surrender of any kind of annuity, contact the Marin County and California elder abuse, annuity and securities attorneys at the Evans Law Firm at (415) 441-8669, or by email at <a href=””></a>. 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 also 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.

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 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 National Life Insurance Company

Ameriprise Financial/RiverSource Life Insurance Company

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

Brighthouse Financial, Inc./MetLife

Crump Life Insurance Services, Inc.

CUNA Mutual Group/CMFG Life Insurance Company

EquiTrust Life Insurance Company

Fidelity & Guaranty Life Insurance Company

Forethought Life Insurance Company/Global Atlantic Financial Group

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

Massachusetts Mutual Life Insurance Company

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

Nationwide Life Insurance Company

New York Life Insurance Company

Northwestern Mutual Life Insurance Company

Pacific Life Insurance Company

Principal Financial Group

Prudential Life Insurance Company

Raymond James Insurance Group

RiverSource Life Insurance Company/Ameriprise Financial

Security Benefit Life Insurance Company/Guggenheim Partners

Symetra Life Insurance Company

Transamerica Life Insurance Company

 Unum Life Insurance Company of America

 Voya/Reliastar Life Insurance Company

 World Financial Group Insurance Agency, Inc.

[1] We do not provide investment or tax advise but can represent you if you have suffered losses on annuities through a partial or full surrender including any tax losses you may have sustained.

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