ATTORNEY NEWSLETTER Beware Annuity Sales Hype Always Think About Taxes Incomplete information is worse than none at all, particularly when it comes to annuities and taxes. The attached article is an example of incomplete sales talk; the salesman leaves out the most important component of sound retirement planning: tax deferral. […]

ATTORNEY NEWSLETTER Annuity Sales Commissions: A Closer Look Broker Dealers Cracking Down Annuity sales generate large commissions, often around 10% or more of premium. And the size of the commission is only part of the story. The well-kept secret (among salespeople) is that the longer the surrender charge period (i.e., […]

ATTORNEY NEWSLETTER Annuity Fraud: A Widespread Problem Beware of Annuity Fraud Scams Annuity agents target seniors. It’s a simple fact. Another simple fact: many annuity agents cannot be trusted. A recent case provides a clear example. There, over years of operation, two fraudulent agents bilked seniors out of $11 million […]

ATTORNEY NEWSLETTER And The Numbers Are In… Annuities Annuities, in our opinion, are outdated and unsound investments. According to a recent article, it is possible that investors agree with our reasoning as well, as annuity sales in the fourth quarter have dropped 17% as compared to the year before. This […]

Seniors Scammed By Annuities Annuity Fraud As seniors in our communities of Santa Clara and elsewhere age, we find that their abilities to sniff out scam artists and their tactics becomes more difficult. This is particularly true when it comes to the purchase of annuities. We have found that sometimes […]

401K Versus Annuities: Where Should My Money Go? Beware: annuities are not investment; they are really just a variant on life insurance. We at Evans Law Firm see a trend developing, in which more often than not, clients are sold annuities under the pretense that annuities are great investments. In […]

ATTORNEY NEWSLETTER A major concern that our annuity fraud attorneys have with annuity products is the obfuscated means by which insurance companies try to squeeze some extra revenue out of their clients. In order to make their products appear more lucrative, they often advertise high base return rates, only to […]

ATTORNEY NEWSLETTER Misleading Annuity Illustrations When seniors go to a financial advisor, they often aren’t specifically looking for an annuity. They want to protect their savings, and ensure that they can find a way to make their savings last through their retirement. A financial advisor often sees this as an […]

ATTORNEY NEWSLETTER Changing Guarantees in Variable Annuities The new Department of Labor rule that requires annuity brokers to act as fiduciaries has sent ripples throughout the industry. Although the rule doesn’t go into full effect until 2018, insurance companies are scrambling to find ways to adapt to (or circumvent) the […]

ATTORNEY NEWSLETTER Commissions and Kickbacks in the Annuity Market An oft-quoted truism in the financial industry is that some products are “sold, not bought.” This is especially true of annuities, a type of product that often seems to provide more of a benefit to the ¬¬company than to the consumer. […]