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PHONE: 415-441-8669 | TOLL FREE: 888-50EVANS

Aug 21, 2017 by |

Santa Clara County Life Insurance and Annuity Attorney: Whole Life Insurance


The Sham That Is Whole Life Insurance

Whole Life Insurance

Despite what an insurance agent might tell you, you really can get by in life without whole life insurance. We at Evans Law Firm have spent years representing clients who’ve lost money on whole life insurance. Big commissions, surrender penalties, rising premiums, high interest rates on policy loans, low returns, fund management fees, you name it. Whole life, in our opinion, is not an investment; it’s just a fancy form of life insurance that pays off big for agents and carriers but not for policyholders. If you have suffered a loss on an unsuitable whole life insurance policy, call the experienced life insurance lawyers at Evans Law Firm at (415)441-8669. We can evaluate your policy for free. We represent clients in the State of California.

Agents will try and dazzle you with promises of high returns. Be careful. Regardless of the projected return, upfront sales commission run as high as 90% of the first year’s premium; for years your return will be negative. While the commissions decrease after Year One, premiums increase over time. Erroneously, whole life policies are sold as self-funding eventually. In our experience that is rarely true; the reality is that the premiums get so high the residual cash value does not cover payments and policyholders end up throwing good money after bad to keep the policy in place.

So as you get older, your monthly payments increase, making them almost impossible to pay after you are retired, let alone bringing in a steady income. When whole life is sold to elders, it is simply unsuitable for most seniors’ financial situation.. In these situations, the agent is often trying to grab a quick buck from the commission for selling the product. Always get an opinion from a third-party professional before buying anything. Mistakes are very costly when it comes to whole life insurance.

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

Contact Us

Evans Law Firm, Inc. handles annuity and life insurance cases and financial elder abuse cases in Santa Clara County and in all other counties in California as well. If you have suffered a loss as a result of an unsuitable whole life insurance policy, contact Evans Law Firm, Inc. at 415-441-8669 or via email at, and we can help We handle annuity and life insurance cases throughout California and also represent clients in financial elder abuse, whistleblower, securities and investment fraud, long term care insurance cases and cases of nursing home abuse.

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