2024 1025 – LIFE180 – MPI Cease and Desist Order: Is MPI Dead? ATTORNEY REVIEW – [Robert Rikard] – [VIDEO-YouTube-01:11:39]

  • investorloss
  • agent depositions
  • 7 – company training material for agents
  • tax-free income that only the wealthy know
  • liquidate 401ks, etc.
  • savings account, bond alternative
  • morality = Life Insurance Companies
  • partiipating company – dividends – consumers participate in the profits of company
  • 10 – AG-49 – chasing capone
  • 11 – Curtis Ray – MPI – Wahington
  • diversification
  • whole life is exactly what you pay for
  • don’t put all your money into an iul
  • different suitability rules
  • iul challenge
  • iuls are never going to perform the way they are sold
  • policy values declining – math doesn’t work
  • 15 – creating law around the country
  • 15 – Curtis Ray – MPI – Wahington – Cease and Desist
  • P7 – mpi – retirement plan – 67 videos
  • 18 – chris took curtis put to lunch
  • insurance agents calling themselves something else
  • fiduciary
  • best interest – not ira or 401k to life insurance
  • fiduciaries — some of worst cases rias
  • big boys dont sell iuls, wont get through compliance
  • 22 – premium financing lawsuit
  • not ira or 401k to life insurance
  • 24 – compliance there to proect company, agents, not clients
  • commissions, imos, target premium, customer complains, lower death benefit, tax-free retirement income
  • people find out too late
  • run reprojection
  • urtis Ray – MPI – Wahington – insurance agent complained – nothing proprietary about mpi, they are just iul policies – secrect 
  • P6 – 
  • iul vs traditional ul – options budget – cap – call options – 
  • 32 – agent knowledge – deposition – options strategy  regulations – securities license – iul very complicated – 150 pages to explain it
  • sold as a simple solution – very complicated – active management – 
  • there is no management
  • all the risk onto the policyholder
  • P7 – 67 videos – Retirement Plan –
    • p3 – 
  • universal life
  • :wholistic” – ira, 401k
  • most power in the relationship = companies
  • lobbyists, 
  • not going to win in front of congress
  • courthouse – all of the same reason
  • uncle sam – partner in your pocket
  • tax planner, cpa
  • 41 – lawsuit – 71 yo sold tax-free inx=come
  • doug andrew – 100 lawsuits in utah
  • 43 – fantastic salesman – doug isnt licensed – “doug andrew” “utah securities commission” “investor 
  • doug andrew – mathematically wont work – wrong – misrepresentation
  • chris – he knows what hes doing
  • hope they will work
  • 45 – case
  • massive front-end commission
  • wl vs iul – commissions
  • P9-10 – 
  • 48 – curtis sent chris cease and desist orders
  • 401k to iul – loan to pay taxes –
  • cost of insurance – example – annual statement – 
  •  policy loan to buy another policy?
  • reloc – 
  • 52 – arbitrage, blowup – hyperfunding – companies dont let this happen- curtis knows exactly what hes doing.- or hes negligent – Mutual of Omaha is even worse – fiduciary – gives curtis home office assistant  
  • 5-pay or 7-pay 10-pay = represented as fully funded – not fully funded – big commissions  [Bonk: Paid Up]
  • in-force illustrations – year 6-7  -guaranteed cash value = zero
  • 57 – vanishing premium, iul can never be paid up – [Bonk: Corrider] – shrink the corrider – costs neglible – surrender periods
  • lapse notice – affinity fraud – inforce illustration – [Bonk: P1P2] – call the agent
  • 100 – p5 P16 – Retirement Plan – Investment – 
  • Congress – then customers would be told what iul really is – change vovernight
  • P32 –
  •  104 – people losing their life savings
  • Companies
    • MPI, WFG, PHP, GFI, FLEX-METHOD, Doug Andrew
  • Expectations
  • Doug and Curtis very church going individuals