Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Monday, March 19, 2012

Insurance Agent Convicted of Selling Annuity to Woman Suffering from Dementia

An independent insurance agent in California has been sentenced to 90 days in jail for selling an indexed annuity to a 83 year old woman who was showing signs of dementia according to the prosecutor.  Glenn Neasham was convicted under a state law protecting the elderly.  His attorney plans to appeal.  WSJ, Annuity Case Chills Insurance Agents

http://lawprofessors.typepad.com/securities/2012/03/insurance-agent-convicted-of-selling-annuity-to-woman-suffering-from-dementia.html

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Comments

This is disgusting and unethical. I know that times are rough but selling an annuity to an old woman who suffers from dementia is anything, but fair. I have been trying to sell my structured annuity and no how difficult this process can be. I understand the insurance agent's motives for doing it, but the fact that he actually went through with it is sick.

Posted by: Mike Cornelia | Oct 4, 2012 7:47:22 AM

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