They Tried to Steal - From My Life Insurance

[DHK]

They Tried to Steal—From My Life Insurance! | Life Happens

I would definitely advise your clients to be diligent in reviewing their cash value life insurance policies to be sure everything is as it should be.

Granted, Marvin Feldman is a prolific life insurance agent, and his insurance company affiliations are publicly known. Our client's information is much more secure than that. But it's still a good idea to review.

 

[rousemark]

They Tried to Steal—From My Life Insurance! | Life Happens

I would definitely advise your clients to be diligent in reviewing their cash value life insurance policies to be sure everything is as it should be.

Granted, Marvin Feldman is a prolific life insurance agent, and his insurance company affiliations are publicly known. Our client's information is much more secure than that. But it's still a good idea to review.

Thanks for posting this.. had never given it a thought.

BTW, how would you have liked to had Marvin Feldman's trainer?

 

[DHK]

Should've seen the primerica *** that posted on Facebook on the Life Happens site. He said "There's the problem! No one needs life insurance for their whole life!" He essentially said that to Marvin Feldman! lol!

Of course, I replied: "Yeah... you're going to tell the president of Life Happens that he doesn't need permanent life insurance. A person with a CLU, ChFC, and an RFC designation... who has helped more people INDIRECTLY than you probably have at your job... and is the son of the great Ben Feldman, world record holder of selling life insurance. Good luck with that.

What are your professional credentials again?

"Some people have a book for a brain. I have a library." John Savage, CLU."

 

[jdeasy]

Should've seen the primerica *** that posted on Facebook on the Life Happens site. He said "There's the problem! No one needs life insurance for their whole life!" He essentially said that to Marvin Feldman! lol!

Of course, I replied: "Yeah... you're going to tell the president of Life Happens that he doesn't need permanent life insurance. A person with a CLU, ChFC, and an RFC designation... who has helped more people INDIRECTLY than you probably have at your job... and is the son of the great Ben Feldman, world record holder of selling life insurance. Good luck with that.

What are your professional credentials again?

"Some people have a book for a brain. I have a library." John Savage, CLU."

That's a "com'on man!!" moment if you really put that much stock in the alphabets behind a name.

 

[DHK]

Well, he probably knows a thing or two more about life insurance than the Primerica agent does... so I was simply emphasizing that point.

Primerica does not endorse or promote any professional development or professional associations. It's extremely rare to find one. It's the same with all the MLM'ers.

 

[jdeasy]

Well, he probably knows a thing or two more about life insurance than the Primerica agent does... so I was simply emphasizing that point.

Primerica does not endorse or promote any professional development or professional associations. It's extremely rare to find one. It's the same with all the MLM'ers.

Yeah but I've a bunch get in trouble with those designations too. A whole agency in Northern Ky got slammed for using the CSA designation.

I'm always leery of the agent that puts all those letters behind their name. Who are they trying to impress?

Most of them should have the CFP on there, {Can't Frickin Produce}.

 

[DHK]

Well, he got a CLUe, and he's probably Constantly having to Find Commissions, even if he Rarely Finds Clients.

The CSA is an unapproved designation by the State of California. It's a rather easy designation to get. It's equivalent of ONE course of the ChFC.

Designations doesn't mean one is fully competent... but they are holding themselves out at a higher standard of expertise, and therefore held accountable to a higher standard.

 

[Larry Tew]

If an agent's intelligence and education is of marginal value, their stupidity and ignorance even less so.

Training and designations need to align with the market worked. And someone who is good at closing the sale isn't necessarily doing good work.

But I too get a weasely feeling when I see someone who uses 4,5, or more designations on their business card.

 

[scagnt83]

Yeah but I've a bunch get in trouble with those designations too. A whole agency in Northern Ky got slammed for using the CSA designation.

I'm always leery of the agent that puts all those letters behind their name. Who are they trying to impress?

Most of them should have the CFP on there, {Can't Frickin Produce}.

Production makes an agent, not their credentials.

But there is a HUGE difference between the CSA designation and others.
It takes just 3 days of coursework to obtain a CSA!! Compared to 1-3 years for a ChFC/CFP/CLU.

Many carriers prohibit the use of the CSA designation, along with many other "senior" focused designations.

You are comparing apples to bananas with that one.

And one of the highest producing agents I know is a CFP. He does around $750k-$1m per year in just life business.

For the record, I have the DGA designation.... (damn good agent)

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They Tried to Steal—From My Life Insurance! | Life Happens

I would definitely advise your clients to be diligent in reviewing their cash value life insurance policies to be sure everything is as it should be.

Granted, Marvin Feldman is a prolific life insurance agent, and his insurance company affiliations are publicly known. Our client's information is much more secure than that. But it's still a good idea to review.

Carriers need to set up an email alert whenever info is changed on a cash value policy. If they can do it for password changes on the agent portal they can do it for clients when there are changes to a policy.

But I am not surprised this happened. With most carriers it would not be hard to do if you had the right info.

 

[Stevekobrin]

Production makes an agent, not their credentials.

But there is a HUGE difference between the CSA designation and others.
It takes just 3 days of coursework to obtain a CSA!! Compared to 1-3 years for a ChFC/CFP/CLU.

Many carriers prohibit the use of the CSA designation, along with many other "senior" focused designations.

You are comparing apples to bananas with that one.

And one of the highest producing agents I know is a CFP. He does around $750k-$1m per year in just life business.

For the record, I have the DGA designation.... (damn good agent)

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Carriers need to set up an email alert whenever info is changed on a cash value policy. If they can do it for password changes on the agent portal they can do it for clients when there are changes to a policy.

But I am not surprised this happened. With most carriers it would not be hard to do if you had the right info.

Great idea. Email alerts would catch fraud much sooner.