Invitations to Fellow Consumer Advocates
We’re seeking the following. Can you help?
Attn: Consumers, Advisers, Trustees, Policyholders
Consider entering a policy in Breadwinners’ forthcoming Contests for The Best and The Worst in-force cash-value policies. Policies must have current death benefit of more than $100,000 and been in-force for more than 14 years. Awards and additional contest details forthcoming. Tentative Deadline: Halloween 2010. Identities of Contest Winners will be kept confidential other than as legally necessary by forthcoming contest rules. Any eligible submissions prior to the forthcoming formal contest announcement will be automatically included, unless you direct otherwise.
We are also seeking data on any and all existing in-force policies. Since the NAIC stopped requiring insurers to report the performance results of a particular specified small face-amount policy, we have seen many small policies that provide abysmal value. Please email or fax us in-force illustrations. Such information can be provided anonymously, or with your personal information (which we’d safeguard). Please make sure that illustration shows insured’s health class, age, and insurer so that we can use the data for our research database. And of course, if faxed, be sure to provide any necessary contact information if you want a reply.
Please tell us, if you’d like, about your experience purchasing or being sold a life insurance policy. In particular, what reasons lead you to purchase the policy that you purchased, what comparative information did you obtain that was useful, and any general feelings/observations regarding your satisfaction or dissatisfaction with the purchase.
Information about problematic sales presentations and misrepresentations. Please keep in mind, our purpose for requesting such is not to cause any problems for the agent involved, but rather to obtain the documentation necessary for the life insurance industry to change. No disclosed information will ever be released without: A) protecting the anonymity of individuals and specifics (insurers will be identified), and B) obtaining your legal authorization.
If you have purchased within the past two years a cash-value policy which you now realize had excessive sales loads, please know that quite often requests can be filed with an insurer to have the policy retroactively re-issued/amended to improve your value. Do not assume your situation can not be remedied. Please contact us for further information.
If you notice any mistakes or errors on life insurance subjects on BreadwinnersInsurance.com, please notify us. We’ll send you a tasty lunch or equivalent as a reward. Also, if you notice any grammatical or presentation mistakes, or any other constructive advice you think we need, we’d welcome any such freely-offered suggestions. .
Help spread the word about Breadwinners’ Insurance expertise and service. Referring us to others could well make you look like a hero.
Attn: Former and Current Life Insurance Agents
We’d like to know more about your sales training and sales experiences. We suspect that some agents may have some good stories to share regarding problematic sales practices.
Alternatively, we’re also interested in hearing if you would like to work with us.
Attn: Former and Current Life Insurance Regulators and Home Office Executives
We’d welcome hearing your stories about sales practices problems, IMSA, regulatory issues, etc.