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The Top 10 Reasons Why Appropriate Disclosure Will Never Happen: A Dave Letterman Approach

The Top 10 Reasons Why Appropriate Disclosure of Life Insurance

Policies Will Never Happen - A Humorous Perspective

As could be seen on the Late Show with David Letterman.

10) The regulators will never implement it.

9) The life insurance companies are categorically opposed to it.

8) Consumers don’t want it and wouldn’t use it. Many seem to think it is fun getting screwed.

7) It just can’t be done. IT IS ACTUALLY IMPOSSIBLE to provide appropriate disclosure of a life insurance policy.

6) Class-action attorneys, like almost everyone else, typically, don’t understand the product and its sales practices problems. And, unlike the tobacco litigation, states’ Attorney Generals haven’t provided the litigators with the downright fiscally-incompetent uncapped compensation.

5) Financial journalists, consumer advocates, and the regularly-quoted fee-only life insurance advisors don’t want it to happen because that would mean the end of their endless fun ridiculing the industry and its agents.

4) It shouldn’t be done. Life insurance agents need to make a living, and how would they if they couldn’t obtain the excessive compensation available from misrepresenting the advantages of whole life and other cash-value policies.

3) Northwestern has declared they will fire Agent Fechtel again. They fired him in 2008 after he proposed to the company’s Board it solve the company’s and the industry’s sales practices problems arising from inadequate policy disclosure, and Chairman Ed Zore has vowed, “I’ll fire Fechtel again and again if I have to. I don’t care that he’s not an agent of ours anymore. Fechtel has to be stopped.”

2) Agent Fechtel, Breadwinners’ Founder is really very afraid, terrified, of Mr. Zore and his corrupt cohorts; he stutters, “I’m g g going to cha cha change my career to become a ta ta tango teacher in Argentina or cycling trip leader in New Zealand.” While some may object to calling Mr. Zore and his cohorts “corrupt,” for the company manages many aspects of its business well, it is nonetheless corrupt to build a business on pervasive misrepresentations, and Northwestern and its industry peers have built their life insurance businesses on pervasive misrepresentations. Any skeptics can read the blog Tribute to Joseph M. Belth or the article “Misrepresentations.”

1) Oh, NO! There’s not a 10th reason. Can you please provide one?

Because if not, if there aren’t truly ten reasons why appropriate policy disclosure will never really happen, then policy disclosure could possibly happen. Couldn’t it?

And, Oh My God, wouldn’t that be wonderful for America!?


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Breadwinners' Insurance
Brian Fechtel, CFA, Agent


2975 Westchester Avenue, Suite 410
Purchase, New York. 10577

Additional Office
1 Chatsworth Avenue #47
Larchmont, NY 10538
Phone: (914) 457-0110
Fax: (815) 346-2516

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