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Annuity Fraud

Society > Issues > Violence and Abuse > Elder > Financial Abuse > Annuity Fraud

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Annuitytruth.org - http://www.annuitytruth.org/
List of circumstances when the sale of a deferred annuity to an older adult is very questionable. Includes a free special report on this topic.

Examination Findings Regarding Broker-Dealer Sales of Variable Insurance Products - http://www.sec.gov/news/studies/secnasdvip.pdf
This joint 2004 SEC-NASD report reviews weak sale practices associated with deferred variable annuities and gives recommendations including taking the customer's age into consideration.

Seniors Get a Hard Sell on Fee-Laden Annuities - Los Angeles Times - http://www.latimes.com/business/la-fi-retire24apr24,0,4561077.story
Detailed April 2006 report on commission-driven agents targeting elderly's assets, and playing on their fears to push a product that may not meet their needs.

Suit Targets Senior Seminars for Questionable Sales Tactics - http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2004/11/20/BUGFV9UINH1.DTL
Describes a class-action lawsuit against insurance companies and living-trust companies that market annuities to elderly people.

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