California Commissioner, Steve Poizner, offers tips to help protect senior citizens from annuity scams. Some tips include watching out for high pressure selling techniques, preying on "time fears", asking for appropriate credentials, and trusting your instincts. They encourage you to contact your state if you suspect you are being scammed. If you think an offer is too good to be true, then there is a good chance it may be a scam.
It's very important that state departments take the initiative to protect those who are easy targets. The Florida DOI gives similar warnings since they have a high number of retirees in the state of Florida. It's very frustrating that there are people out there with the main intention to mislead, confuse and deceive consumers.
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