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Jul 6, 2018 by |

San Francisco and California Insurance and Annuities Attorneys: Financial Elder Abuse By Insurance Agent


Insurance Agent Takes $1 Million From Elderly Client

A Recent Case Makes Headlines

We at Evans Law Firm represent clients harmed as the result of insurance agents who financially abuse their elder clients. The harm an unscrupulous insurance agent can inflict is serious and can involve a lot of money. In a recently reported case[1],  an insurance agent had herself appointed Power of Attorney for a 92-year-old client suffering from advanced dementia.  She also made herself beneficiary of two of his annuities totaling $1 million. She has been ordered to repay the money to his estate and been stripped of her insurance license permanently.  Her actions reveal just how destructive financial elder abuse by an insurance agent can be.

Some exploitation of seniors by insurance agents is not as blatant as the abuse in this case. For example, the agent may sell a senior inappropriate or unsuitable insurance policies and annuities or fail to disclose important information in the sale. Whatever the tactic, the agent pockets a big commission on the sale.  Our California insurance and elder abuse attorneys handle these types of financial elder abuse cases every day.  We know the legal standards of conduct expected of insurance agents, advisors and carriers and the disclosures they must make under California law. 

If you or a 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 the Evans Law Firm insurance, securities and financial elder abuse attorneys at (415) 441-8669 and we can help.

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 the Evans Law Firm insurance and annuities attorneys at (415) 441-8669, or by email at <a href=””></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

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


[1] Evans Law Firm was not involved in the case in any way but the facts illustrate how serious financial elder abuse by an insurance agent can be and we want to share it with you.

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