Originally Posted by Reardon
Rouse, has the fraternals successfully lobbied to do just that in TN?
They haven't lobbied...Many DOIs have this conflicting approach to mentioning the state guarantee fund. You are in most cases specifically prohibitted in bringing up the guarantee fund as a sales tool. Your not supposed to mention it unless the client asks....
At the same time the DOI chided agents when selling a fraternal for not mentioning its not covered by the guarantee fund. This was an issue in Maine with UCT medsupps a couple years back the DOI was upset that agents did not mention it.
The worry agents who are independent have is if you show the fraternal and mention the guarantee fund but end up selling another product specifically because the client is concerned about not being covered by the guarantee fund shouldn't be a worry but in light of the Glenn Neasham prosecution in Kalifornication I don't take anything lightly.
Personally I believe the DOIs are emberassed when people ask about the guarantee fund as you can pull up the current reserves of the fund and it can be very shocking how little is held.