AM BEST News Wire
April  19, 2005
Fran Lysiak

AmerUs Is Latest Company Sued Over Alleged Deceptive Annuity Sales to Seniors

LOS ANGELES April 19 (BestWire) — An attorney whose firm recently filed a proposed class-action lawsuit against AmerUs Group Co. and its affiliates in California federal court, charging deceptive sales of deferred annuities to senior citizens, said his firm would continue to sue more life insurers that "take advantage" of the elderly by selling these products that aren't suitable for their financial needs.

Bill Shernoff, with Claremont, Calif.-based Shernoff, Bidart & Darras, contended a "widespread practice" exists in the life insurance industry involving improper sales of deferred annuities to seniors.

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