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Jun 29, 2018 by |

San Francisco and California Elder Abuse and Securities Attorney: Financial Elder Abuse by Insurance Agents and Carriers


Fighting Harm to Senior Citizens

The California elder abuse attorneys at Evans Law Firm, Inc. know that whenever they sue insurance agents and carriers for financial elder abuse they’re in for a fight. Our lawyers are prepared for that fight. Agents and carriers will likely move to dismiss any action brought by their victims and our lawyers will aggressively oppose those tactics and pursue the abused senior’s claims.

The San Francisco and California elder abuse and securities attorneys at Evans Law Firm, Inc. represent California seniors who have suffered financial elder abuse at the hands of insurance agents and carriers selling them inappropriate or unsuitable life insurance policies and annuities. Our lawyers know what’s coming when defendants move to dismiss the case.  We don’t give up; our lawyers know how the law protects seniors when an agent and/or carrier has overreached, exerted undue influence, and manipulated a senior into a product he or she neither wants or needs.

If you have been sold an inappropriate or unsuitable policy, contact qualified counsel now[1]. The policy may be the end product of elder abuse and we will effectively pursue all remedies available to you if you are a California senior, including rescission of the policy, restitution of moneys paid and extra damages and attorneys’ fees and costs for the policyholder.  If you or a loved one lives in California and has suffered a loss as a result of financial elder abuse by a insurance agent, financial advisor and carrier, call us today at (415)441-8669. 

How Can an Insurance Sale Constitute Financial Elder Abuse?

Agents and carriers prey on seniors by pushing policies they claim the senior will need later in life. Sellers instill fear that the senior will not have enough money for future years and the products they offer are the answer.  Don’t be lured into this trap.[2]  First, between Social Security, your own pension, and your hard-earned savings you may well have enough saved up for retirement.  Second, what the agent and carrier offer you comes with big commissions and premiums for them, and more, often hidden, fees for you; it takes a long time to recoup commissions and fees will erode returns on your money.  Third – though perhaps most importantly – life insurance and deferred annuities will tie up your money for a long time and any withdrawals will be subject to surrender penalties and taxes.

But how does a sale of such a policy constitute elder abuse? Because creating false fears and railroading seniors into inappropriate or unsuitable policies is exploitation.  In legal terms, it’s a “taking” of a senior’s property (in the form of commissions, premiums, fees and surrender penalties) for a “wrongful use” – that is, for the benefit of defendants but not for you. 

Remedies for Financial Elder Abuse

California protects seniors from that kind of exploitation and the undue influence, misrepresentations, concealments and fraud that may come with it. Elder abuse laws in California provide enhanced remedies for victims, including rescission of the contract, extra damages, injunctive relief, and attorneys’ fees and costs reimbursed to the victim for having to bring an action to assert their rights.  While we at Evans Law Firm always recommend you report financial elder abuse to law enforcement, those agencies may only secure restitution and will not represent you in getting all the additional relief California law allows.  Our lawyers will.

Contact Us

If you or someone you love is the victim of any type of financial elder abuse or securities or other financial fraud in California, call the San Francisco and California elder abuse and securities attorneys at Evans Law Firm, Inc. at (415) 441-8669, or by email at <a href=””></a>. Our attorneys have experience with fraud and financial elder abuse cases and complex qui tam or whistleblower cases including offshore tax avoidance cases, complex financial contract cases and cases against large insurance companies. We can help guide your case through a jury trial or toward an equitable settlement.  We also handle cases involving physical elder abuse, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.

Some of the leading providers 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] If you suspect you have been sold an inappropriate or unsuitable policy and/or are a victim of elder abuse, act quickly and seek the help of qualified counsel.  You do not want to lose out on your rights because you have waited too long.

[2] We do not provide investment or tax advice and always recommend you consult a qualified advisor who does not stand to gain by any sale and also your tax advisor whenever you consider buying, replacing or surrendering life insurance or an annuity.

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