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Chief Financial Officer Jeff Atwater Launches On Guard for Seniors

3/5/2012

Alexis Lambert               
(850) 413-2842
 
Website designed to help seniors navigate through financial decisions
TALLAHASSEE—Urging Floridians to participate in Consumer Protection Week, which continues through Saturday, Florida’s Chief Financial Officer Jeff Atwater today launched On Guard for Seniors, a new website intended to educate consumers about financial and insurance issues impacting our state’s fastest-growing population.
 
The On Guard for Seniors website, www.MyFloridaCFO.com/OnGuard, includes information about annuities, reverse mortgages, long-term care insurance and identity theft and features success stories about seniors the Department of Financial Services has helped.  In 2011 the department’s Division of Consumer Services helped recover more than $22 million for Florida consumers.
 “Through my years in the financial community and as an elected representative, I’ve learned that more often than not it is our seniors who are most vulnerable to financial fraud,” CFO Atwater said. “Seniors are inundated with offers of financial stability while being exposed to fraud artists targeting their life savings. The result—financial decisions become overwhelming.”

According to the Florida Department of Elder Affairs, Florida currently ranks first in the nation in the percentage of residents age 60 or older, and has more than 1.7 million citizens who are 75 and older. Seniors age 85 and older are currently the state’s fastest-growing age group.

On Guard for Seniors explains key terms, outlines important questions to ask and provides educational videos of how some common insurance and financial products work. 

“Many seniors are concerned about making their savings last, which makes them prone to fraudulent or misleading sales pitches,” CFO Atwater said.  “Together we can all help ensure our seniors have the tools and resources to make informed financial decisions that best suit their needs both today and for the future.”

CFO Atwater encourages seniors to visit the On Guard for Seniors website, www.MyFloridaCFO.com/OnGuard, for great tips and resources designed to help seniors navigate through challenging financial decisions. For additional information, visit www.MyFloridaCFO.com or call the department’s Consumer Helpline at 1-877-MY-FL-CFO (1-877-693-5236).

Chief Financial Officer Jeff Atwater, a statewide elected official and officer of the Florida Cabinet, oversees the Department of Financial Services including the Division of Insurance Fraud.  CFO Atwater’s priorities include fighting financial fraud, abuse and waste in government, reducing government spending and regulatory burdens that chase away businesses, and providing transparency and accountability in spending.