September 7, 2008
As a Licensed Insurance Agent I carefully explain the difference between Indexed Products and Securities.
At the age of 72 I am still working because I talked with and was advised by Licensed Security Advisors and lost.
Due to that experience I have no desire to have a Securities License and be responsible for someone elses misfortune.
Yes Investments could outpace an Indexed Product – In both directions
I show customers actual case histories of Investors Stock Market Losses. I emphasize safety. I then encourage them to also talk to Securities Advisors with the warning that he may not fully emphasize risk.
I believe by taking Dedicated Insurance Agents out of the mix and leaving only Securities or Securities/Insurance Licensed Individuals to represent the product you are depriving the consumer of a legitimate opportunity to fully understand their choices. The differences will be grayed and many families will risk capital they cannot afford to lose.