Thursday, April 22, 2010
Senior scams -- Bill on annuities is blocked again
In a state with a large population of senior citizens, the scam takes place over and over.
An elderly person has worked a lifetime to build up a nest egg and ensure a comfortable retirement. But with old age comes loneliness and, perhaps because the mind is not quite as sharp as it once was, increased vulnerability.
It's an invitation for unscrupulous insurance agents, who hold friendly gatherings, offer free meals and then dish up some fast talk about hard-to-understand annuities — even though most of those annuities won't mature for 15 to 20 years and threaten huge penalties for getting your money back...
Tallahassee: Senior scams -- Bill on annuities is blocked again
An elderly person has worked a lifetime to build up a nest egg and ensure a comfortable retirement. But with old age comes loneliness and, perhaps because the mind is not quite as sharp as it once was, increased vulnerability.
It's an invitation for unscrupulous insurance agents, who hold friendly gatherings, offer free meals and then dish up some fast talk about hard-to-understand annuities — even though most of those annuities won't mature for 15 to 20 years and threaten huge penalties for getting your money back...
Tallahassee: Senior scams -- Bill on annuities is blocked again
Permalink posted by markw @ 4:26 AM 
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