Prosecutors claimed insurance agent Glenn Neasham took advantage of an 83-year-old client with early-stage dementia to sell her an indexed annuity. A client with early-stage dementia is one thing, but based on the level of complexity, is such a product appropriate to sell to the mass market? A 2009 FINRA survey found 29% of those with mortgages on their homes didn’t know if the mortgage was interest-only or had an interest-only option, 53% of those with an auto loan said they didn’t compare offers with different lenders, and 26% of investors with self-directed retirement plans didn’t know whether they have more or less than half of their account in equity products. With so many Americans ill-equipped to make regular financial decisions, could someone without early-stage dementia even understand the details of an indexed annuity?
If your sales are soft, here are ideas about how to fix that.
Adults ages 50 to 75 were much more likely to know a CD's current rate of return.
Maine Community Health Options is seeking Affordable Care Act risk corridors program payments.
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