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Web pages dedicated to the prevention, investigation and prosecution of fraudulent and/or inappropriate sale of annuities to the elderly.
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Examination Findings Regarding Broker-Dealer Sales of Variable Insurance Products - 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. Suit Targets Senior Seminars for Questionable Sales Tactics - Describes a class-action lawsuit against insurance companies and living-trust companies that market annuities to elderly people. Seniors Get a Hard Sell on Fee-Laden Annuities - Los Angeles Times - 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.
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See Also
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