I wonder if they include in their numbers the large amount of institutional financial abuse that is perpetrated by predatory insurance companies. Many of these companies, as a policy, take advantage of the unsophisticated, elderly and those with declining mental faculties. Their agents use unethical tactics to sell unsuitable annuities and investments to victims who then agree to put their life savings into irrevocable insurance products that they don't fully understand. The contracts are unclear, vague and omit important information about return on investment, commuted value and tax implications. By using third party sales agents, the insurance companies can claim they are not responsible for false claims, misrepresentations or mistakes made by the agents. This is an epidemic scam that is becoming rampant!
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I wonder if they include in their numbers the large amount of institutional financial abuse that is perpetrated by predatory insurance companies. Many of these companies, as a policy, take advantage of the unsophisticated, elderly and those with declining mental faculties. Their agents use unethical tactics to sell unsuitable annuities and investments to victims who then agree to put their life savings into irrevocable insurance products that they don't fully understand. The contracts are unclear, vague and omit important information about return on investment, commuted value and tax implications. By using third party sales agents, the insurance companies can claim they are not responsible for false claims, misrepresentations or mistakes made by the agents. This is an epidemic scam that is becoming rampant!
http://old-mutual-financial-network.info/
June 2, 2011 - 8:01amThis Comment
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