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Jury Awarded a Large Verdict Against North American Company for Life and Health in an Annuities Fra by Ingrid Evans






Article Author Biography
Jury Awarded a Large Verdict Against North American Company for Life and Health in an Annuities Fra by
Article Posted: 10/18/2013
Article Views: 650
Articles Written: 33
Word Count: 203
Article Votes: 0
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Jury Awarded a Large Verdict Against North American Company for Life and Health in an Annuities Fra


 
Current Affairs,Law,Seniors
A California senior citizen was awarded a large verdict in 2008 in an annuities fraud lawsuit against North American Company for Life and Health. It was alleged that North American Company for Life and Health induced the senior citizen into purchasing a deferred annuity that he would never collect on. In this case, the senior citizen was sold a deferred annuity at the age of 82. At that time he had Alzheimer’s and dementia and was living at an assisted living facility. When the broker sold him the North American Company for Life and Health deferred annuity, it was alleged that he never told the senior citizen that the policy would not mature until he was 97 years old. . Deferred Annuity fraud attorneys warn the public to read annuities contracts carefully. If you have any concerns, contact attorneys at Evans Law Firm, Inc. for a free evaluation of your rights.

In this case, the deferred annuity sold to the senior citizen had large surrender penalties. Surrender penalties are paid when funds are withdrawn from an annuity before the maturity date. In this case, the funds would have been tied up for longer than the life expectancy of the senior citizen.

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