Eric Olson

  • 2023 0815 – Diberli – Pinnacle Elite Overview by Eric Olson of World Financial Group  —  [BonkNote]   —  [VIDEO-YouTube-35:39]
    • Eric Olson – GFI – Former WFG – World Financial Group
    • 15-?- Indexed – Hybrid of Fixed and Variable, Can’t lose any money. Stairway to heaven, upside no downside. Most people don’t know about Indexed. Because people don’t have the right licenses. Tax now, Tax later, Tax Advantaged / Free. Farmer / Seeds / Harvest – Government, 401k, Benefits the government, 
  • 2023 – LC – Eric Olson v. World Financial Group Insurance  —  [BonkNote]

2023 – LC – Eric Olson v. World Financial Group (WFG)

  • 2024 – LC – Sandra Olson & Global Financial Impact, LLC v. World Financial Group Insurance Agency, LLC, Case No. 5:24-cv-00477-NC (N.D. Cal.)
  • 2024 – LC – World Financial Group Insurance Agency, LLC,
    v. Eric Olson, Case No. 5:24-cv-00480-PCP (N.D. Cal.) 
  • 2024 – LC – World Financial Group Insurance Agency, LLC v. Global Financial Impact, LLC, Civil Action No. 24-cv-00019-SWS) (D. Wyo.) 
  • 2022 0114 – Steve Siebold Interviews WFG Star Jay Maymi – part 1 – [VIDEO-YouTube-27:21]
    • 8 – Owning your own business – in the fine print
    • 9 – Is WFG a scam?

MetLife – 50/50 Plan

  • Mohney v. Metropolitan Life Insurance Company, Forney
    • 1996 – LC – Mohney v. Metropolitan Life Insurance Company, Forney
      • 96-186
      • United States District Court for the Western District of Pennsylvania (D.C. Civil No. 96-cv-00854), District Judge: Honorable Donetta W. Ambrose
    • 2003 – LC – Mohney v. Metropolitan Life Insurance Company, Forney
      • No. 03-1436 – UNITED STATES COURT OF APPEALS FOR THE THIRD CIRCUIT
      • The Metropolitan Life Insurance Company (“MetLife”) through its sales agent, Paul Forney (collectively, “Defendants”) sold Plaintiff Timothy Mohney whole life insurance policies on the lives of his two children. The Defendants called these policies the “Metropolitan 50-50” plan (“50/50 Plan”), “a plan to provide for your personal savings.” Mohney sued, contending that the Defendants misrepresented the true nature of his purchase. In essence, Mohney alleged that what he was led to believe were savings plans were instead simply life insurance policies. The District Court granted the Defendants’ motion for summary judgment on all of Mohney’s claims. For the reasons set forth below, we will affirm in part and reverse in part.
      • 2004 – LC – Mohney v. Metropolitan Life Insurance Company, Forney – 03-1436 – Opinion – 13p

1994 0325 – Pittsburgh Post-Gazette – Third MetLife Lawsuit Filed –  Newspapers.com

Delaware Department of Insurance vs. United States

  • 2021 – LC – United States vs. Delaware Dep’t of Ins.
    • No. 1:20-cv-00829-MN-CJB, 2021 WL 4453606 (D. Del. Sept. 29, 2021).
    • Document 35 – MEMORANDUM OPINION – 18p
  • 2023 – LC – United States v. Delaware Dep’t of Ins,
    • 66 F.4th 114 (3d Cir. 2023)
  • 2023 – LC – Supreme Court – SCOTUS
    • scotusblog.com/case-files/cases/delaware-department-of-insurance-v-united-states/
      • Docket No. 23A60
      • Issue: Whether the Supreme Court should stay the order of the U.S. Court of Appeals for the 3rd Circuit enforcing an Internal Revenue Service summons on the Delaware Department of Insurance for information related to a tax shelter promoter examination.
    • EMERGENCY APPLICATION TO STAY PROCEEDINGS AND RECALL THE THIRD CIRCUIT’S MANDATE PENDING THE FILING OF A PETITION FOR A WRIT OF CERTIORARI – 31p
    • 2023 1018 – NAIC – Brief for the National Association of Insurance Commissioners as Amicus Curiae in Support of Petitioner – 21p

Hubert Humphrey

  • Amway
  • A.L. Williams / Primerica
  • Alexander / WMA - World Market Alliance 
  • WFG - World Financial Group - TransAmerica - Aegon
  • HGI - Hegemon Group International 
  • IMG - Integrity Marketing Group
  • CONQUISTADOR TV - youtube.com/@conquistadortv1687
    • as of 2024 - 332 subscribers - 120 videos
    • Hubert Humphrey and Mauricio Garcia are using podcast to share with the world the principles and strategies that can help anyone conquer their future.
  • 2021 0802 - CONQUISTADOR TV - The System: How Hubert Humphrey built Two Multi-Billion Dollar Market Cap Companies
    • Bill Campbell - Amway
    • Brought System into Financial Services
    • after he sold WFG to Aegon, he had a non-compete, so he started a mortgage origination company and applied the same System.
      • [Bonk: 2002 - LC - GOLDEN WEST FINANCIAL v. WMA MORTGAGE SERVICES - Court: United States District Court, N.D. California, Date published: Mar 12, 2003, Citations No. C 02-05727 CRB (N.D. Cal. Mar. 12, 2003)
  • HGI - Hegemon Group International
  • lfs.hgicrusade.net/
    • Hubert Humphrey, HGI Founder, Chairman & CEO
      • Hubert began his journey during the early days of A.L. Williams, where he began to develop a systematic approach to building distribution through relationship marketing.
      • At A.L. Williams, Hubert's system played a major role in recruiting over 1.5 million associates and revolutionized the way insurance was sold.
      • A.L. Williams
      • World Marketing Alliance
    • Products - Insurance and Annuity Products with Living Benefits*
      • Indexed Universal Life
      • Term Life
      • Guaranteed Issue Life
      • Indexed Annuities
      • Guaranteed Universal Life
      • Final Expense Life
      • Fixed Annuities
      • Final Expense
  • hgicrusade.com/
  • Flyer - 8p
  • 1989 - Book - The Magic of Compound Recruiting: The Secrets of Building a Super Hierarchy, by Hubert H. Humphrey - 83p 
  • 2000 0501 - CNN - Hubert The Great Hubert Humphrey wants to sell Middle America loads of gimmicky, high-cost investments through an army of part-time brokers. The scary part: It's working.  (MONEY Magazine), By Amy Feldman and Pat Regnier - [link]
  • 2015 0728 - behindmlm.com - Hegemon Group International Review: Insurance and ??? - [Hubert Humphrey - HGI] - [link]

Joe Rogan

  • JRE Daily Clips
  • JRE In a Nutshell
  • JRE Shorts
  • PowerfulJRE
  • Eric Weinstein
  • Lex Fridman
  • Joe Rogan “the problem with big insurance” – #1873 – Brigham Buhler • The Joe Rogan Experience – [VIDEO-YouTube-00:48]
    • Comments
      • Organized Crime

IRP – Insured Retirement Plan

  • Canada
  • SOA – 1950s
  • 1950 – SOA – Discussion – Actuarial Note: The Valuation of Self-Insured Retirement Plans, tsa50v2n442 – Society of Actuaries – 7p
  • 1959 – SOA – Gain and Loss Analysis for Pension Fund Valuations, tsa59v11n3174 – Society of Actuaries – 61p

MGA – Managing General Agent

1990s

  • 1995 0905 – LC – Ferguson v. Crown Life and William Casteel – V14of23 – 244p  —  [BonkNote]
    • 2884 – Q Okay. And what is – a general agency briefly?
      A General agency, I guess, would be kind of considered a a wholesaler. We marketed other insurance agents primarily. We do very little selling ourselves but we work with other agents.
    • Q And how many independent brokers do you work with?
      A Oh, I’d say somewhere between a hundred to 150 typically. apprenticeship type of system in a lot of cases.

2000s

  • 2009 – LR – The “Other” Intermediaries: The Increasingly Anachronistic Immunity of Managing General Agents and Independent Claims Adjusters, by Jeffrey W. Stempel – 125p

2010s

  • 2011 02 – CCIR – Issues Paper Managing General Agencies – Life Insurance Distribution Model, Agencies Regulation Committee – 64p
    • This document reflects the work of regulators who are members of CCIR.

2020s

  • 2020 0821 – Letter – ACLI to NAIC (MCASWG – Market Conduct Annual Statement Blanks Working Group (D)) – re: RE: Accelerated Underwriting & TPAs/MGAs – 3p
    • TPAs and MGAs – We also question the usefulness of collecting information concerning MGAs and TPAs.
      •  Insurers are ultimately responsible for the actions of these entities, who can provide a wide variety of services.
        • Distilling this information into a usable form related to a risk-based exercise seems to us unachievable.
  • 2023 1121 – FSRA – Proposed guidance on Life Insurance Agent & MGA Licensing Suitability  —  [BonkNote]  —  [link]  —  34p
  • 2024 0209 – FSRA – [2023-015] – Comments – Consultation for Proposed Guidance on Life Insurance Agent & MGA Licensing Suitability  —  [BonkNote]
    • [BonkNote – Comment] – FSRA’s Life Agent and MGA Suitability Guidance – [2023-015] – 2024 0209 – 2p

Advocis

  • 2015 0915 – Advocis – Comment – Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives – 274p
  • 2016 0715 – Advocis – Comment – Re: CCIR – Segregated Funds Working Group Issues Paper, May 2016 – 46p
    • CLHIA Reference Document IVIC Suitability Needs-Based Sales Practices (February 2013) provides a fulsome discussion of relevant suitability guidelines for IVIC sales.
      CHLIA Guideline G2, Individual Variable Insurance Contracts relating to Segregated Funds, 
    • CLHIA/IFB/Advocis document “The Approach,” which provides needs analysis criteria.
    • Appendix One of FSCO’s September 2014 Life Insurance Product Suitability Report
    • Insurance Distribution in Canada: Promoting a Customer-Focused System, the CLHIA 
    • The CCIR asserts (with no reference to documentary evidence) that complaint and enforcement data indicate that some life insurers may not be monitoring the product knowledge and sales practices of those selling their products in a manner that is comparable to the monitoring conducted on the mutual funds sector. Moreover, the complaint and examination files surveyed by the CCIR indicate that in some cases life insurers have not accepted responsibility for the sales conduct of licensed intermediaries selling their products.
    • Insurers are best positioned to be responsible for oversight of advisors
      • Advocis believes that the insurer must bear the responsibility for oversight of the advisor. Indeed, they are the only party properly positioned to do so.