Federal Web Site Links to Programs and Services for People With Disabilities
U.S. Department of Labor's Disability.gov site is a one-stop source of government information relevant to people with disabil...
Read moreAn article in the Wall Street Journal in 2002 described a training session at "Annuity University," which billed itself as the "nation''s first and foremost Annuity Sales Training School." Included in training session advice on how to sell annuities to seniors was the following: "Treat them like they're blind 12-year-olds . . .;" "There's the technical answer," . . . and "there's the senior answer;" and "Tell them you can protect their life savings from nursing-home and Medicaid seizure of assets. They don't know what that is, but it sounds scary."
Across the nation, the elderly are being targeted by salespeople selling annuity products. For some seniors, an annuity may be an appropriate part of an overall financial plan. But for others an annuity is totally unsuitable. Often, as the above high-pressure sales tactics attest, people are not being told in a clear way about all aspects of the annuities they are being offered.
To help older adults and families make better decisions about annuities, the Healthcare and Elder Law Programs Corporation (H.E.L.P.) has created a Web site, annuitytruth.org. The site features H.E.L.P.'s new seven-part "Special Report: Annuities and Older Adults," as well as a list of federal and state agency contacts for making complaints if a person has been sold an annuity in unsuitable circumstances. Note that the site refers to "Medi-Cal," which is the name for Medicaid in California, where the site was created.
H.E.L.P., which is a community-funded, non-profit information resource for older adults, offers the following list of circumstances in which the purchase of a deferred annuity by an older adult is highly questionable:
Local Elder Law Attorneys in Your City
U.S. Department of Labor's Disability.gov site is a one-stop source of government information relevant to people with disabil...
Read moreAs our population ages, abuse of the elderly is becoming a growing problem. Elder abuse can tak...
Read moreThere is now more information available to help families evaluate nursing homes. . .
Read moreMedicaid Rules, etc