Sen. Warren Says Life Insurers Admit To Offering ‘Kickbacks’
November 2, 2015 by Registered Rep
U.S. Senator Elizabeth Warren said 13 major U.S. life insurers had admitted to using incentives such as expensive vacations and gifts, which could encourage agents “to put their own interests ahead of their clients.”
The senator had launched an investigation into 15 major annuity providers in April amid concerns about the “kickbacks” they offered to brokers who peddle products to retirees.
Warren voiced her concern about the loopholes in law that allows some advisers to steer customers into complex financial products for higher rewards. Click HERE to view article.
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