Barry Kaye

  • 1982 0119 – The Los Angeles Times – Barry Kaye Moves Insurance Better than Anyone in the USA – [link]
  • 1991 – Book – Save a Fortune on Your Life Insurance, by Barry Kaye
  • 1998 1102 – Forbes – Barry Kaye – It’s Time to Hedge Your Bets – p21 – 1p
    • Life Insurance Can Beat Any Investment Whether You’re Worth $10 Million or $100 Million
  • 2006 – Book – You Buy, You Die, It Pays!, by Barry Kaye
  • 2007 – Book – Die Rich and Tax Free, by Barry Kaye
  • 2009 0118 – AUDIO – Dr. Barry Kaye, Founder, Barry Kaye College of Business, Barry Kaye Associates Inc. Insurance Services – [AUDIO-MP3]
    • A pioneer in life insurance – In this interview Barry Kaye shares the many new practices from product to marketing that helped shape the insurance industry.
    • 3 – 14 years of Show-Business
      • Communication, Selling, Technicians can’t communicate,
    • 6 – Life Insurance is an Asset Class
    • 7 – Buying Life Insurance based on Life Expectancy
      • Mortality Tables
      • Books
      • Funding Strategies
      • Buying twice the insurance for half the price
      • Option to put more money in at any time
  • 2009 0820 – InvestmentNews – Florida Atlantic University strips Barry Kaye’s name from business school: Florida Atlantic University’s College of Business yesterday stripped life insurance guru Barry Kaye’s name from the school, according to published reports, By Darla Mercado – [link]
    • Both the firm and Mr. Kaye’s son, Howard, were sued last month by an 81-year-old Ohio man who said in his complaint that he was encouraged to buy a $5 million life policy and sell it in the life settlements market.
      • After paying $322,118 in premiums over two years, the client was stuck with the policy when Howard Kaye and the firm were unable to locate a buyer.
    • The Ohio Insurance Department had said that it is looking into the claims in the lawsuit.
  • 2009 – LC – LEVIN, Plaintiff, v. BARRY KAYE & ASSOCIATES, INC.,
    • https://archive.org/details/gov.uscourts.ohsd.131878
    • Court: United States District Court, S.D. Ohio, Western Division
    • Case No. 3:09cv287
    • 858 F. Supp. 2d 914 (S.D. Ohio 2012)
    • 2012 0313 – Opinion – Date published: Mar 13, 2012 – casetext.com/case/levin-v-barry-kaye-assocs-inc
      • The policy was issued by Transamerica
      • Transamerica argues:
        • There are clearly genuine issues of material fact concerning Howard Kaye’s actual and apparent authority as a Transamerica agent to solicit the purchase of a Transamerica life insurance policy for the propose of a subsequent sale of the policy.
        • Plaintiff is therefore not entitled to summary judgment on his vicarious liability claim against Transamerica.
  • 2010 0406 – The Palm Beach Post –  Boynton Beach couple sue former Boca Raton insurance mogul Barry Kaye over $500,000, by Jane Musgrave – [link]
    • Life Settlements

19 Jan 1982, Tue The Los Angeles Times (Los Angeles, California) Newspapers.com

02 May 2007, Wed The Palm Beach Post (West Palm Beach, Florida) Newspapers.com

02 May 2007, Wed The Palm Beach Post (West Palm Beach, Florida) Newspapers.com

Cointel Pro

  • Cointel Pro – Counter Intelligence Program
  • https://vault.fbi.gov/cointel-pro/White%20Hate%20Groups/cointelpro-white-hate-groups-part-09-of-14
    • (p186) – We have requested the Charlotte Office to consider the same type of counterintelligence activity against the revenue-producing and Klan-operated life insurance program,;
      in the State of North Carolina.” 
    • (p190) – NOTE: The UKA, under the direction of James Robertson Jones, has started a Klan life insurance program which could be the source of substantial revenue for the Klan. 

FPA – Financial Planning Association

1990s

  • 1994 10 – JFP – Conserving Client Portfolios During Retirement, Part I, by William P. Bengen, CFP – 10p
  • 1996 – JFP – Conserving Client Portfolios During Retirement, Part II, by William P. Bengen, CFP – <WishList>
  • 1997 12 – JFP – Conserving Client Portfolios During Retirement, Part III, by William P. Bengen, CFP  – 12p

2000s

  • 2001 – JFP – Conserving Client Portfolios During Retirement, Part IV, by William P. Bengen, CFP – 12p
  • 2003 01 – JFP – The Enemies of Capitalism, by David M. Cordell, Vol. 16, Iss. 1, 42-43, FPA-Financial Planning Association – [link – Snippet]  —  <WishList>
  • 2004 03 – JFP – Determining Withdrawal Rates Using Historical Data, by William P. Bengen, jfp0304 – Reprint from 1994 – 13p
  • 2009 – JFP – Life Insurance in Times of Uncertainty, by David M. Cordell and Thomas P. Langdon, FPA-Financial Planning Association – 2p – <Bad Link-https://www.massmutual.com/mmfg/pdf/journalfp_090109.pdf>  —  <WishList>
    • We have a yellowed Wall Street Journal article dated May 4, 1981, in which the introductory paragraph Of the article was: “Where can you get one of the highest tax-deferred or tax-free-yields on your savings? Try life insurance.”

    • The author proceeded to discuss “‘two products that truly advance the state of the art” and were “real breakthroughs for consumers.” They were called -ahem- universal life and variable life. Yes, there really was a time when these two life insurance staples were exciting new products.

  • 2003 01 – Journal of Financial Planning – The enemies of capitalism, by David M.  Cordell, Vol. 16, Iss. 1, 42-43 – [link – Snippet] – <WishList>

    • A few weeks ago I decided to set aside an afternoon to reorganize my office. Well, to be honest, it wasn’t a whole afternoon. And, I guess “reorganize” is a bit too strong of a characterization. In fact, it wasn’t actually an advance decision. Okay. In the interest of “full disclosure,” I slipped on a pile of manila folders that I put on the floor several months ago. Then I moved them to the last remaining 100-square-inch, non– carpeted, upward-facing surface in my office. But that’s not the point.

      The point is that, feeling somewhat compelled to look inside the folders, I found something that caught my attention. It was a yellowed Wall Street Journal article, written by someone named Jill Bettner and dated May 4, 1981. At that time I was a young assistant professor, and the ink on my doctoral diploma was barely dry, which meant that I knew everything about theory and nothing about the real world. To broaden my knowledge base, I became an inveterate article saver, although I confess that I don’t look in my files to review the articles very often.

      Anyway, the opening paragraph of the article was this: “Where can you get one of the highest tax-deferred-or tax-free– yields on your savings? Try life insurance.” The author proceeded to discuss “two products that truly advance the state of the art” and were “real breakthroughs for consumers.” They were called-and hold onto your hats-universal life and variable life. Yes, Virginia, there really was a time when these two staples were exciting new products.

      The article provided a handy illustration of a universal life policy offered by Life of Virginia at that time. The rate of interest applied in the illustration was 10.88 percent. That’s right-10.88 percent. How’d you like to have some of that? And the grizzled life insurance veterans among us will recall that that wasn’t even the peak.

Conflict of Interest

  • 1966 – LR – The Unauthorized Practice of Law by Laymen and Lay Associations, by Loyd P. Derby – 34p

  • 2005 – LR – The Dirt on Coming Clean, 

  • When rendering legal advice to customers, life insurance salesmen have a conflict of interests-they are interested in setting up an estate plan with the maximum amount of life insurance regardless of the best interests of their client.141

    • Furthermore, there is no indication that other lay estate planners are rendering a public service by providing competent, low-cost service to the public; in fact, it appears that the opposite is true.142

  • For these reasons, the courts have not hesitated to enjoin life insurance salesmen and other lay practitioners from rendering advice that applies specific legal principles to the customer’s particular situation.143

  • It is likely, however, that many of these activities go undetected, and to discourage them, local bar associations must do more than attack them in the courts.

    • The bar must find some effective means of providing these services competently and at a low cost to all the members of the public.

1966 – LR – The Unauthorized Practice of Law by Laymen and Lay Associations, by Loyd P. Derby – 34p

Compensation

  • Bonuses
  • Charge Backs
  • Commissions
  • Fee For Service
  • Fee Only
  • Flexible Compensation
  • Overrides
  • Servicing
  • Target Premium
  • Trips, etc
  • From a distribution perspective, I think one of the challenges that face us in UL is the servicing of UL. 
  • Flexible premium, high-degree-of-service UL products have little or no renewal compensation paid if there’s no premium paid. 

—  Daniel F. Byrne

1999 – SOA – The Next Generation Universal Life, Society of Actuaries – 30p

  • 1986 – SOA – New Forms of Agency Compensation — Impact On Product Design And Company Profitability, Society of Actuaries – 42p

Threats and Intimidation

  • Always Marco
  • BehindMLM is under threat (GSPartners & the NYSC) Nov.02, 2023
    • 2023 1102 – BehindMLM is under threat (GSPartners & the NYSC) – [link]
  • Jerry Keating, Agent – I began my career with John Hancock Mutual Life Insurance Co. in 1965.  (p15)
    • 1993 0525 – GOV (Senate) – When Will Policyholders Be Given The Truth About Life Insurance?, Howard Metzenbaum (D-OH)  —  [BonkNote]
  • Harry Markopolos, Bernie Madoff
  • Howard Metzenbaum (D-OH)
    • Newpaper
  • (p15) – Jerry Keating, Agent – I began my career with John Hancock Mutual Life Insurance Co. in 1965.
    • From 1982 to June 12, 1990, I was the staff manager in the Sioux City, LA, office.
    • My job during this period was to office train and field train new and veteran agents.
    • I am still employed by the John Hancock …
    • I would like to know exactly, what guarantees do I have from this committee that I will not be harassed?
  • Howard Metzenbaum (D-OH) – We cannot guarantee any position.
    • But I would guess that my colleague here from South Carolina and this Senator and I think every member of this Senate would be so outraged at John Hancock if they took any action against you for testifying before a Senate committee that they would find our wrath unlimited and that we would take every step possible to protect your position.
    • I think the Senator from South Carolina, with whom I disagree on some issues, but I think he would agree that no witness ought to ever be penalized for appearing before a Senate committee.
      • And this gentleman is asking whether or not-what guarantee does he have that he will not be terminated from his employment just by reason of his appearing here. Do I reflect the Senator’s view as well?
  • Strom Thurmond (R-SC) – Yes, you do.
  • Howard Metzenbaum (D-OH) –  Thank you. Mr. Keating, please proceed.

1993 0525 – GOV (Senate) – When Will Policyholders Be Given The Truth About Life Insurance?, Howard Metzenbaum (D-OH)  —  [BonkNote]

Strom Thurmond

  • Strom Thurmond (R-SC)
    • 1947 to 1951 – State Governor
    • 1954 to 2003 – US Senator
    • Senate – Democratic Party until 1964, when he joined the Republican Party
  • 1979 1018 – Congressional Record – Senate –  https://www.govinfo.gov/content/pkg/GPO-CRECB-1979-pt22/pdf/GPO-CRECB-1979-pt22-4.pdf
    • (p28738) – STATE VERSUS FEDERAL REGULATION OF INSURANCE
      • Mr. THURMOND. Mr. President, one of the recurring issues which comes before the Senate is the notion that the Federal Government can do a better job than the States in regulating insurance.· History should teach us· a lesson. The Federal Government has certainly not made a record of excellence as a regulator. Regulatory reform is now one of the key issues in the Senate. 
      • Mr. President, I ask unanimous consent that the editorial “Federal Insurance Control Looms Again,” from the State, Columbia, S.C., October 14, 1979. be printed at this point in the RECORD.
        • Armed with a new report from the General Accounting Office citing flaws and abuses
          in state insurance regulation, some members
          of Congress are likely to push again for federal takeover of insurance regulation. The GAO report should be further warning for the states to stand guard and clean up their insurance acts where necessary.
        • Portions of the GAO report certainly have merit. A case in point: it urges the regulators and the industry to provide consumers with more information about insurance
          needs and cost options
  • 1993 0525 – GOV (Senate) – When Will Policyholders Be Given The Truth About Life Insurance?, Howard Metzenbaum (D-OH)  —  [BonkNote]

2023 0322 – Always Marco – I FINALLY Found WFG’s Earnings Disclosure –

  • 13 – Turned down 3k sponsorship for the Primerica Video
  • 17 – James Janney, CoffeeZilla – Most Viewed anti-mlm
  • 17 – WFG (Part 3) – Got taken down – Probably Greg Stry
  • 24 – 2021 0225 – LIFE180 (Chris Kirkpatrick) – World Financial Group (WFG) Compensation Plan Analysis | Don’t Sign Up Til You Watch This – [VIDEO-YouTube-28:29]
    • 05:25 – North American Salary & Earnings Average and Highest
    • 2018 – WFG – U.S. Compensation & Advancement Guidelines, World Financial Group – 12p
    •  – WFG – Systems Manual – 
    • 44 – Nothing about Life Insurance
      • [Bonk: Connect:
        • 2023 0415 – AlwaysMarco – WFG Is In Trouble  —  [BonkNote]  —  [VIDEO-YouTube]
        • 1993 0525 – GOV (Senate) – When Will Policyholders Be Given The Truth About Life Insurance?, Howard Metzenbaum (D-OH)  —  [BonkNote]
          • Jerry Keating, Agent – John Hancock
            • (p18) – The home office people who came to the Sioux City, lA, office said: Don’t try to become a Ph.D. in variable life insurance; just learn enough to sell it and go.
              • This is what they told the whole office, and this was how I trained any new men that I hired:
              • Just sell it; do not worry about it.
            • Just before I got sick in 1990, the company seemed to change.
              • They started telling us about the risks.
            • This statement is only the tip of the problem.
              • There are hundred and hundreds more.
              • And, Senator Metzenbaum, I would like to tell you, sir, if you do not get the Government to do something about this, you haven’t seen nothing yet. 
        • 1994 – SOA – Problems and Solutions for Product Illustrations, Society of Actuaries – 28p
          • Robert E. Wilcox,  Utah Insurance Commissioner and Chairman of the Life Disclosure Working Group (NAIC)
            • Second, it was observed that ….. there is virtually no accountability for any of the participants in the sale ..not for the company, not for the agent, and interestingly, the white paper discussed accountability on the part of the purchaser as well.
  • 01″11″00 – Long – he flopped – not a mlm –
    • WFG Trainers Manual – 41p
      • 15 – BPM INVITE SCRIPT
  • 01:28:00 –
  • 01:31:00 – Eric Olson
  • 01:35:00 – the only way 
  • – nobody understands forex
  • 01:37:00 – 5 years = dead
  • 1:41:00 – 
  • 01:45:00 – Greg Stry – 
  • 01:55:00 – passive income… not
  • 01:57:00 – vulnerable people, 
  • 02:01:00 – insurance licensng test
  • 02:03:00 – Anybody can do it, scam
  • 02:10:00 – people are too stupid
  • 02:13:00 –
  • 02:19:00 – mental toughness
  • 02:20:00 – professional liars
  • 02:22:00 – 
  • 02:24:00 – 
  • 02:25:00 –

2023 0607 – Always Marco – Meet Terry Johal – WFG

  • 24:00 – MLM’s Target minority communities
  • 30:00 – Date-? – DRISHTI – Terry Johal – From Rags to Riches and Still Moving Up – WFG – [link]
    • Terry reiterates that insurance is a living benefit.
      • “We sell Life Insurance. It is a living benefit in North America that is no longer available in the UK. You can save and have insurance to protect your family if something goes wrong. An insurance benefit works both ways: the early demise of a person or if one lives too long.”
    • ⇒  AM – Is that true? I don’t know.
  • 32:00 – AM – Same Pitch as a meeting at their office.
  • WFG – Training, no education needed.
  • Rooted in reality, then into nonsense
  • 34:30 – AM – life is hard
  • 40 – WFG – No income disclosure 
  • 42 – not mlm, is mlm – AM – MLM = Pyramid scheme = Infinite Level Marketing
  • 49 – Book – Execute 90

Ethos

  • 2024 0506 – Ethos Life – Global Financial Impact: How Eric Olson is Reshaping Life Insurance Distribution – [VIDEO-YouTube-39:25]
  • ethoslife.com/agents/gfi-external-carriers/
    • ANICO – American National
    • Athene
    • BMI
    • CoreBridge
    • Foresters Financial
    • Global Atlantic
    • Lincoln
    • Mutual of Omaha
    • NLG – National Life Group