Another lawsuit claiming annuities company scamming elderly

I posted a couple weeks ago about the lawsuit against Bankers Life for taking advantage of the senior citizen by selling them annuities that probably wouldn’t mature until after the elderly client’s death.  Now comes a similar suit filed against American National Insurance Company in a California federal court.  

This complaint has much more detailed information about American National’s annuities offerings and how they are sold and marketed compared to the Banker’s Life complaint but the crux of the allegation is very similar.  Here the complaint states under the terms offered to the plaintiff, she wouldn’t receive any payment on her annuity until 2025 when she would be 106 years old (bolded in the original).

Complaint courtesy Courthousenews

Tags: American National Insurance Company, annuities, elder scam, Linkedin