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Watch out for the Pension Predators retirement poaching involves solicitors, monetary planners and insura

Retirees hit with sky-high interest levels

Adam Voorhes; Styling by Robin Finlay

One kind of retirement poaching involves solicitors, monetary planners and insurance coverage agents wanting to persuade veterans over 65 that have pensions to buy insurance coverage items.

En espaГ±ol | Daryl Henry, a disabled Navy retiree from Laurel, Md., was beset by bills. In 2003 he read an advertisement and arranged to obtain a cash loan in return for signing over the vast majority of their $1,083 month-to-month retirement for eight years.

Henry, whom invested two decades into the Navy, decided to spend an organization connected with Structured Investments Co.