{"id":1038,"date":"2012-03-21T14:03:23","date_gmt":"2012-03-21T14:03:23","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2012\/03\/insurance_agent_convicted_in_a"},"modified":"2022-03-09T16:15:45","modified_gmt":"2022-03-09T22:15:45","slug":"insurance-agent-convicted-in-a","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/insurance-agent-convicted-in-a\/","title":{"rendered":"Insurance Agent Convicted in Annuity Case Involving 83-Year-Old Dementia Patient"},"content":{"rendered":"

\t\t\t\tIndependent insurance agent Glenn A. Neasham has been convicted for felony theft for selling a complex annuity to an elderly woman who was suffering from dementia. Neasham, who maintains that the woman seemed fine when the transaction was made in 2008, contends and that he acted appropriately. Now, other insurance agents say they are having second thoughts about offering this financial product.<\/p>\n

“Indexed” annuities are savings products that pay interest tied to how the stock- and bond-market indexes perform. An insurance agent gives the buyer a guarantee that the latter won’t lose any principal as long as the investor doesn’t withdraw his\/her money early when steep penalties would otherwise ensue. <\/p>\n

A lot of insurance agents like annuities because they can earn high commissions (12% or greater of the amount invested).from insurance companies. Annuity sales have increased by over four times in the last 10 years as a volatile stock market and low interest rates attracted buyers. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Independent insurance agent Glenn A. Neasham has been convicted for felony theft for selling a complex annuity to an elderly woman who was suffering from dementia. Neasham, who maintains that the woman seemed fine when the transaction was made in 2008, contends and that he acted appropriately. Now, other insurance agents say they are having […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3919,3803],"tags":[],"class_list":["post-1038","post","type-post","status-publish","format-standard","hentry","category-annuities","category-senior-investors"],"yoast_head":"\nInsurance Agent Convicted in Annuity Case Involving 83-Year-Old Dementia Patient — Investor Lawyers Blog — March 21, 2012<\/title>\n<meta name=\"description\" content=\"Independent insurance agent Glenn A. 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