Filed Under:Annuities, Fixed Indexed

Scapegoat or Con Artist: You Decide (Earl E Bird)

The facts of the Glenn Neasham case are pretty straightforward. Fran Schuber was diagnosed with dementia four years prior to meeting and buying an indexed annuity from Glenn Neasham at the age of 83. Schuber went to Neasham’s office on the advice of a trusted friend. The friend was a satisfied client of Neasham’s and thought an indexed annuity would yield Schuber more interest than her bank account. Neasham escorted Schuber and her friend to the bank to make a $175K withdrawal to purchase the annuity. Schuber signed a disclosure form verifying that she understood the annuity contract’s features and penalties; Neasham collected his commission. The state of California worked hard to bring this case to trial. In the end, Neasham was found guilty of felony theft and was sentenced to 90 days in jail.

Read the story.

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]


In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI


Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's


An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting


Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources


Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.