Movie Downloads, HDTV for Home Theater Online

Annuities Alert for Senior Citizens: There Is No Such Thing as a Free Lunch

Philadelphia, PA (PRWeb) January 17, 2007 -- Senior citizens have probably all seen the advertisements that look much like invitations for a free lunch and investment seminar. These advertisements are found in many daily newspapers, regional weekly newspapers, senior citizen publications, or mailed to homes. After all, who can resist a free lunch and perhaps learn some investing tips. According to Anapol Schwartz shareholder, Joel Feldman, Esquire, "It is not only the contractors and identity theft scammers that seniors have to watch out for - it is also reputable insurance companies whose agents ignore their responsibilities in order to generate fat commissions."



According to the lawsuit filed on January 9, 2007 under Docket Number 27-CV07581 in Hennepin County District Court, by Minnesota Attorney General, Lori Swanson, when a 73-year-old man, Leo Stulen, contemplated using his life savings to buy a deferred annuity policy from Allianz Life Insurance Co., he asked his insurance agent what would happen if he needed some of the money to pay his wife's medical bills. The agent told him to buy an Allianz Flex-Dex Bonus annuity and assured him that the product was flexible enough to accommodate his needs. So the man used the $40,000 he had tucked away to do just that. But when he tried to dip into those funds to pay the medical bills that he knew were coming, he was informed of a whopping $6,000 surrender charge because the annuity had yet to mature.

The Minnesota Attorney General sued Allianz, accusing them of violating Minnesota law by offering and selling annuities to senior citizens that were unsuitable for their financial needs. The attorney general's suit alleges that Allianz failed to adequately disclose to senior citizens purchasing the deferred annuities that their money could be tied up for as long as 15 years; that they could not cash in their annuities early without paying a hefty penalty; and payments advertised as immediate bonuses also were not payable for up to 15 years. The suit claims Allianz failed to properly supervise the sales of such products and paid agents lucrative commissions to sell them.

Deferred annuities are investment products designed to provide income over a period of years. The investor doesn't begin receiving payments until after a certain period of time called a maturity date.

Feldman advises that a senior citizen considering a deferred annuity "needs to determine if it is the right investment vehicle. Here are a few tips that I have given to clients: (1) Senoir citizen investors should not be overly trusting and do research. A well-dressed corporate insurance agent may not look like a typical scammer but appearances can be deceiving. (2) Before signing on any dotted line and transferring life savings, seniors should get a second independent opinion just like they would for a major medical decision. (3) Seniors should do (online) research from a reputable senior advocacy or consumer group. (4) Seniors should not be pressured into making an immediate decision. "Remember," Feldman continues, "deferred annuities generate some of the biggest commissions in the investment industry but they can tie up your savings for up to 15 years and after your death, leave your heirs with large tax bills."

Since 2000, Allianz has sold more than 4,900 deferred annuities, worth about $260 million to Minnesotans over the age of 70. Allianz Life Insurance is a nationwide company and has offices in New Jersey and Pennsylvania.

The allegations made by the Minnesot Attorney general are not unique. "Other insurance companies have been accused of unscrupulous insurance practices," Feldman cautions, "as this is a problem we have seen this with other high-commission investment products."

About Anapol Schwartz P.C.
Since 1977 Anapol Schwartz has been of the nation's preeminent law firms known for landmark verdicts and settlements and for providing clients with the highest level of personalized legal services. Eleven of Anapol Schwartz's lawyers have received jury verdicts in excess of $1 million. The firm specializes in maintaining its tradition of excellence in personal injury, medical malpractice, pharmaceutical, toxic tort, class actions, construction site accidents, products liability, automobile litigation, security/investment fraud, and employment litigation.

###

MORE ARTICLES:

Where Can I Download Movies for Free-Best Online Movie Bittorent Sharing Sites

How to Speed Up Your Free Movie Downloads and Free TV Show Downloads
Five Helpful Ways To Speed Up Your Free Movie And TV Show Downloads As the owner of a TV show and movie download review site I'm asked a great deal of question regarding free movie downloads The question that I'm asked time after time is where to find the very best sites to download free movies and free TV show downloads from

Movie Downloads And The Theory Behind Downloading Movies
Gone are days when watching movies had to be planned as you had to go out of your home and buy tickets and sometimes return back without watching movies as tickets were not available Now-a-days you can plan watching movies at the comfort of your home

Online DVD Movie Downloads - Devoid Of Charge In The Least
In today?s environment where there is so much emphasis on personal comforts and luxuries, we know that almost anything we need is just a click away. So why should watching movies be any different? Very often instead of making efforts of going to a theatre, we want to watch a movie curled up on our favorite couch in the comfort of our own home.

DVD Movies Dating Back to the Dawn of Cinema at Blockbuster.co.uk
In celebration of this year's Oscars, Blockbuster.co.uk have launched Browse by Year which allows visitors to browse virtually their entire DVD movie collection by production year rather than DVD release date so movie fans can find all their favourites from the world of film by the year of original cinema release.

Paid movie downloads v/s Free movie downloads
Be it movies, songs, music videos or shows, online downloading websites have been climbing up the charts like never before. The fast moving technology is quick to deal with any hiccups or drawbacks to make the most of the opportunity and turn it into a fruitful reward  both for the customer as well as the site owner. Competition is throat cutting and each site quickly adapts what others are offering to ensure that they are not left behind.

Download Full DVD Movies For Free?
It seems that everyone wants to know how to download full DVD movies for free. The issue here is not whether you can find them, since there are probably millions upon millions of download sites that allow you to do so. Just do a simple search at the major search engines for a term like ?download full DVD movies for free? and I am pretty sure you can find throngs of those sites. So the issue really is whether they are free.

Movies In Your Own Home Movie Theater
After a long day at work, relaxing at the movie theater is a great way to unwind You love the movie theater so much that you are willing to endure extreme traffic just to get there

Download Full Length Movies  Unlimited DVD Movie Downloads
Downloading full length movies sitting in your comfortable armchair at home is the new trend nowadays. Buying the movies can be quite expensive and thats why many people try to add more and more DVD movies to their personal collection without paying too much.

Download Rambo 4 - Fast and Easy Way to Download Rambo 4 the Movie Online
Films which can be acquired from the web are in rapid proliferation, and this the biggest reason why you can now download Rambo 4 the Movie online. You will easily encounter films for downloading online, and with the wide range of websites nowadays, you can acquire video files whether through the free sites or paid websites.

Download Full DVD Movies  How To Download Full DVD Movies Online
If you are a movie freak and you can't seem to get your fill of movies from the video rentals, then it's time to shift your attention to a more practical way - download full DVD movies online.

Divx Full Movies Download - Thinking About DivX Full Movies Download
The worldwide web is continually gaining its popularity in todayýs era And along with this popularity is the recognition that is being acquired by the movie download activities

Online Bootleg Movie Downloads in DVD Quality
Is your computer running slower than usual Have you been exposed to a lot of unwanted advertising lately

Home Theater AV Magazine Online 'Secrets of Home Theater and High Fidelity' Launches New Site
Home theater audio and visual magazine online re-design brings the high end audio and home theater enthusiast, the best online technical reference and resource guides.

New Movie Downloads Review Site Makes Discovering Reputable Sites to Download Movies Easy
Moviesanddownloads.com provides comparisons, database of movie downloads sites.