Although most anyone can be a target of fraud and identity theft, senior identity theft is on the rise and those ages 50+ are often in the cross-hairs of scammers. The U.S. government is taking steps to help circumvent the high level of fraud aimed at seniors, but it can only do so much -- and progress in this area has been fairly slow.
While most people don't expect that these applications often see the light of day, the truth is that they do. You cannot rely on the broker or anyone else who tells you not to worry about what the application states. In many situations, including divorce court, that application can end up costing you plenty.