15 responses to “Two Wrongs Don’t Make a Right and Two Deceptions Don’t Make a Light!

  1. Awesome article!!!!! You da man!

  2. Good to see the fire is still burning!

  3. Bob: Well said. I felt the show was very “petty”. It was reality TV without reality. He is an actor not a correspondent. Itis a shame we do not have the proper out cry and support from the insurance companies that we make so rich and proud. Let’s fight the fight together!

  4. I think what is most disturbing is the fact that many, many insurance agents are in fact pedophiles. Why didn’t Chris Hanson have the guts to bring this to light?

  5. As many cultures thru out history have disappeared, so won’t the FIA culture, if these gutless bastards running the insurance companies don’t grow some BALLS and go on the offensive. Well done Mac, always telling it like it is. Hope everything is well with you and Brenda.

    Take Care,

  6. Great Article, As the Big Networks continue to loose ground to the internet, I think we can continue to see more of this behavior.

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  8. Thanks for nice comments guys!

  9. Why does a show like DateLine have such a hate-on for one kind of insurance product anyway? The Fixed Index Annuity has a definite place and I have never had any problems getting people to comprehend how they work. And besides, it meets the biggest fear so many people have today: running out of money before they run out of life. Back-end surrender charges? When did this become a problem? I have always dwelt upon it with clients until they GOT it. Then moved on. Again, where is the hatred of this one product coming from? Who is pushing this particular agenda? That must be ferreted out and run to ground and exposed.

  10. Michael Eberhardt

    It’s always easy to attack all agents for the faults of few. Shame on Allianz for not protecting their pocketbooks, (Us Agents)

  11. Great article: It points to three things of actionable importance:
    1) Allianz and other companies simply cave in and settle even when accusations are patently false. Lawyers are the only winners and agents are the scapegoats.
    2) Agents are independent and seldom become unitedly strong enough to counter the slander of the industry by opposing financial interests, ie. children, (who look with defensive and reactionary concerns from a totally different paradigm) attorneys who are “consulted” : experts (usually from the rsk investment camp who would always recommend shutting down a competitor) and etc. and none without prejudice.
    3) Frivolous Lawsuits will only be increased against well meaning agents.

    So what’s the action that can be taken?
    1) Companies can start holding clients’ feet to the fire instead of agents, but the agent has to be well documented and suitability needs to be sound.
    2) Agents need to involve the children where possible and educate them on why safe tools are preferable to their parents, develop strong record keeping to show why others may bring an accusation and why it is clearly unsupported
    3) Agents need to check themselves often and ask whether what they suggest is suitable, reasonable, and supported as in the best interest of the client.

  12. Tom Culbertson

    And what about the industry associations?
    Reading the links on the Date Line site, the MN AG (Know Your Rights) seems to have forgotten what the law requires us to do–provide a fair & balanced presentation! Or maybe that requirement doesn’t apply to the defender of the law??
    What are our industry associations doing to get the public guidance of the states to follow the same rules they want us to?
    And it was interesting to read her say that “annuities are complicated INVESTMENTS.” (see What Are Annuities?) Foolish me, I thought they were insurance products. If the AG calls them investments, why can’t the companies figure out that the consumer calls them that also?

  13. ray kidalowski

    All insurance contracts are approved by State Insurance Departments. If the Attorney General doesn’t like 15 year surrender charge contracts being sold to older people, they should sue their own insurance department for allowing it to happen!!!!
    Agents cannot sell it if it isn’t allowed to be sold!

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  15. Pingback: The 151A Annuity Fiasco – Enough Shame and Blame for Most Everyone

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