Life Insurance / Annuities

Birmingham, Alabama, Life Insurance and Annuity Attorneys

Universal life insurance, whole life insurance, equity-indexed annuities ("deferred annuities") - the products are complicated, and the terms are confusing. Consumers purchasing life insurance or annuity products rely on the sales agent or advisor to accurately explain how the products work.

Unfortunately, some sellers of annuity and life insurance products are often more interested in maximizing their commissions and fees than in selling a product that has real value for the buyer. Sometimes, the agents have been misled by the annuity company or insurance company or just have had little or no training with regard to sale of the product. Nonetheless, at the time of sale of a life insurance policy or annuity, buyers are often misled about the terms of the products and actual costs.

If you would like to discuss a life insurance policy or annuity you purchased, you may contact our Birmingham, Alabama firm, McCallum, Methvin & Terrell, P.C., and arrange a free consultation with a lawyer experienced in handling insurance and annuity cases.

Our attorneys routinely represent clients with claims arising from their purchase of insurance products and annuities. Below are some typical situations giving rise to legal claims:

• A senior citizen is sold an equity-indexed annuity or other product that does not allow the senior citizen to access their money without severe penalties. 
• A buyer is misled about fees and charges that drain value from an annuity or cash value building life insurance product.
• A buyer is told the necessary premiums for life insurance would be paid in full before retirement and then receives bills for more premiums after retirement.
• A buyer purchases a life insurance product with the promise the premiums will never increase and then years later is told higher premiums are necessary to keep the policy in force.
• A buyer is told the universal life or whole life insurance policy will be "cash-value building" and then, when attempting to borrow against it for college expenses, retirement, or to buy a home, is told there is little to no value available.
• An insurance policy is sold as an "investment" or "retirement plan".
• The family of the deceased attempts to collect life insurance benefits only to find that the policy has lapsed because the salesman was pocketing premiums collected in cash rather than turning the premiums into the insurance company.

Our Birmingham, Alabama attorneys practice in state trial and appellate courts and federal trial and appellate courts throughout the country. The firm's attorneys are licensed in Alabama, Mississippi, Georgia, Florida, Tennessee, Oklahoma, West Virginia, Kentucky and Texas and represent clients throughout the country in association with lawyers in other states.

In Alabama, the firm's attorneys have litigated cases in almost all of the 67 counties, including Barbour County, Bibb County, Bullock County, Chambers County, Choctaw County, Dallas County, Greene County, Hale County, Jefferson County, Lowndes County, Macon County, Marengo County, Mobile County, Montgomery County, Perry County, Sumter County, Talladega County, Walker County, Washington County and Wilcox County.

We will arrange for you to meet with a lawyer with the experience to evaluate your claim regarding life insurance or annuity sales practices. In most cases, if we take a case, you pay no expenses or attorney fees unless we recover a settlement or verdict on your behalf.

Additional Resources:

• Please visit our equity-indexed annuities web site, www.eia-annuities.com, for more information.

McCallum, Methvin & Terrell, P.C.

Birmingham Consumer Protection and Business Litigation Attorneys