One insurance agent has been barred from working in Florida's insurance industry and his son, also an agent, has been ordered to pay restitution for duping an elderly client into annuity deals that resulted in her suffering surrender charges and adverse tax consequences.
Hunter Stephen Bowen, Sr. and Hunter Stephen Bowen, Jr., both of Ocala, allegedly convinced the woman to surrender several annuities, which she had bought over a period of time from Bowen, Sr., in favor of a new annuity carrying with it years of surrender charges.
In lieu of fighting the administrative charges filed against him, Bowen, Sr. agreed to the revocation of his license. He is also permanently banned from the insurance business in Florida.
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