Veterans Protection Coalition Awarded for Elder Abuse Prevention Efforts
VBPP was created in response to the devastating new form of elder financial abuse where financial predators target veterans with the sale of unsuitable deferred annuities and dangerous irrevocable living trusts in order to qualify the veterans for government benefits. This pension-poaching scam threatens the financial well-being of thousands of senior veterans across the country, despite recent legislation in
"This award recognizes coordinated efforts to protect elders," said Insurance Commissioner
Following National Senior Citizen Day, Jones encourages elders and their loved ones to remember these tips when purchasing insurance:
* Obtain all proposals in writing.
* Don't be pressured into buying any insurance product. Take enough time to review the information before making any decisions.
* Do not sign anything you do not understand.
* Consider having a trusted family member, friend or advisor participate in discussions concerning the purchase of any insurance product.
* Make sure the agent, broker and insurance company are properly licensed to sell the product you are considering purchasing. You can verify a licensee status.
The award-winning coalition, led by the
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