Another Annuity Trial.

[DHK]

Looks like Zellerbach is losing to Mike Hestrin (45.87% vs 54.13%) for District Attorney:

CONSOLIDATED PRIMARY ELECTION Semi-Final Official Results



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Of course, I'm sure they haven't counted all the votes yet.

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Looks like Ted Gaines is winning for insurance commissioner over Dave Jones (51.57% vs 43.98%) in this voting area.

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All the votes are counted. Zellerbach lost.

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Looks like Dave Jones won insurance commissioner again:
http://graphics.latimes.com/calif-primary-election-results-2014/

 

[Brian Anderson]

Zellerbach, we hardly knew ye! I don't miss him already.

 

[number9]

Looks like Zellerbach is losing to Mike Hestrin (45.87% vs 54.13%) for District Attorney:

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All the votes are counted. Zellerbach lost.

-QUOTE]

Awesome, one less tyrant!

 

[Cornelius]

I just heard about Pension Poaching. I had no clue something like this was so wide spread and haven't seen anything about anyone being charged.


Veterans and Retirees - Target of Pension Predators - AARP

http://newoldage.blogs.nytimes.com/2013/05/21/v-a-warns-aging-veterans-against-pension-poachers/

 

[hardworkwillwin]

This will get your attention California
California Program Pays to Prosecute Life and Annuity Agents - Top News - InsuranceNewsNet.com

 

[DHK]

Thank you.

Here's the "Annuities - It's Your Choice" video published by the CDI for their "Seniors Outreach".

https://www.youtube.com/watch?v=U9g1sFW0cvY

The eyes of the portrayed annuity agent definitely look like something's not right, therefore "all seniors should beware of any agent". Ugh!

 

[bobson]

This will get your attention California
California Program Pays to Prosecute Life and Annuity Agents - Top News - InsuranceNewsNet.com

Time to leave California. Whew, I don't live there.

 

[CALTCAgent]

I like how they say in the video,

"you know you can even lose money in an annuity if the stock market does bad".

Are they talking about a variable ?

Also, "they would have done better in their other investment".

Oh really, what was the other investment ?

If the insurance companies don't do something to protect agents, agents really should not sell annuities in CA, IMO.

This monday morning quarterbacking of something that passed suitability is not fair, IMO.

If the agent was accurate and it passes suitability, it should not be a crime later, IMO.

If you want to protect consumers. No grey areas on exchanges.

For example :

Nothing passed x amount of surrender charge allowed. period.

Leaving this much grey area has only led to problems.

 

[DHK]

Oh and that line about "isn't there a tax consequence for selling my investments?" Uh... not if it's a qualified plan!

But yeah, CADOI has declared war on agents that work with seniors.

 

[Norwayguy]

I like how they say in the video,

"you know you can even lose money in an annuity if the stock market does bad".

Are they talking about a variable ?

Also, "they would have done better in their other investment".

Oh really, what was the other investment ?

If the insurance companies don't do something to protect agents, agents really should not sell annuities in CA, IMO.

This monday morning quarterbacking of something that passed suitability is not fair, IMO.

If the agent was accurate and it passes suitability, it should not be a crime later, IMO.

If you want to protect consumers. No grey areas on exchanges.

For example :

Nothing passed x amount of surrender charge allowed. period.

Leaving this much grey area has only led to problems.

You missed the biggie....They are calling the annuity an investment, I can just imagine what happens when an agent calls a fixed annuity an investment.