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CA Department of Insurance
CA Department of Insurance
CA Department of Insurance

Life and Annuity Consumer Protection Program

The Life and Annuity Consumer Protection Fund (CIC § 10127.17) provides funds to protect consumers of life insurance and annuity products. Revenue generated pursuant to this program is divided between the Department of Insurance and Local Assistance Grants to various county district attorney offices.

In this fifteenth year of grant funding, the Life and Annuity Consumer Protection Program provided $500,000 in grant funds to 6 counties. As a result of a collaborative effort with other allied law enforcement agencies, numerous licensed agents were prosecuted and convicted for theft, financial elder abuse, forgery, and identity theft in the transaction of life insurance and annuities with California consumers.

Life Insurance and Annuity Products Investigations
Fiscal Year 2022-23
Description Count
Opened (Includes subjects identified in fiscal year 2022-2023 for cases opened prior to July 1, 2023) 102
Completed 112
In progress as of June 30, 2023 236
Reports of Suspected Violation as of June 30, 2023 27


Life Insurance and Annuity Consumer Protection Products Data
Calendar Year 2023
Description Count 
Opened consumer complaints reported by Consumer Services Division 2018
Opened Investigations 45
Investigations referred to/reported by prosecuting agencies 17
Administrative or regulatory cases referred to the Department of Insurance's Legal Division 25
Administrative or regulatory enforcement actions taken by Legal Division 53


To further educate seniors about life insurance and annuity products, the Consumer Education and Outreach Bureau participated in 32 senior events in 2021. The senior events provided information regarding scams committed against seniors, the purchase and use of insurance and annuity products, claim filings, and dispute resolution.

Ongoing relationships with the Contractors State License Board-Senior Scam Stoppers, Department of Consumer Affairs, various legislative offices, senior expos, and health fairs enhance the Department’s ability to get the message out.

The following educational materials were distributed during 2021:

  • Annuities - What Seniors Need to Know - English
  • Informing Seniors - SIBOR - English
  • Driving for Senior - English
  • Personal Planning Guide
  • Annuities - What Seniors Need to Know - Spanish
  • Informing Seniors - SIBOR - Spanish
  • Driving for Seniors - Spanish
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