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Think You Know Agents & Insurance Companies? Think Again!

lance12Did you purchase an IRC 419 Employee Welfare Benefit Plan, a 412(i) plan, Section 79 or other captive insurance plan after being told the contributions were fully deductible from federal and state income taxes, and found out later that this was not the case? Did you purchase a trust unnecessarily funded with substantial amounts of life insurance because you were told you could build up cash value tax-free and then have use of the funds tax-free? If you have been misled about information regarding your employee welfare benefits, you may have been the victim of 419 and 412 plan fraud.When consumers are misled and given false information by insurance brokers, they have the right to sue the fraudulent agents and insurance company that sold the plan.