For Consumers

Prevent annuity fraud

It’s easy to misunderstand or be misled about the benefits and risks of annuities. Follow these tips to protect yourself:

  • Avoid high-pressure sales: If an agent or broker pressures you to buy an annuity today, don’t give in. Tell them you need more time to make a decision.
  • Watch out for quick-switch strategies: If an agent who sold you an annuity last year now recommends you replace it with another one, find out why. Make them answer your questions so you clearly understand.

    If you decide to replace your annuity, the agent must give you a replacement notice that tells you the pros and cons of replacing your policy.
  • Only buy from a licensed agent or broker: Find all agents and brokers licensed through our office (
  • Beware of the "free" lunch or dinner seminars: These type of seminars are often run by people who are good at high-pressure sales. They may try to get you to make a one-on-one appointment with them, at which they'll try to sell you something.

If you suspect deceptive sales practices, or you have a specific question and can’t get the answers you need from an agent or the insurer, call us at 800-562-6900.