Investment Grade Policies

2014 0415 - DOC 808 - Trial Transcript - Day 5 - Walker v LSW - 229p --- [BonkNote]

The SPI product may be marketed as a superior, hybrid SPDA: "an investment grade single premium product," according to one brochure. Alternatively, the SPI may be sold with high premiums as an estate planning vehicle for the wealthy individual.
Currently, this second alternative would be unusual, but agents may find such a market niche at the expense of the insurer with casual underwriting.
The wealthy individual who is slightly substandard would be an ideal prospect from the agent perspective.

1985 - SOA - Single Premium Deferred Annuities and Single Premium Whole Life Products, Society of Actuaries - 24p

(p18) - 46. The uniform and deceptive message delivered through. the Missed Fortune marketing materials and each step of the True Wealth transformation process was two-fold.
- First, and consistent with their TEAM training, the Missed Fortune Producers falsely touted themselves and Douglas Andrew as expert financial advisors and highly trained investment professionals, working for the clients' best interests when in fact they were operating for the sole purpose of selling life insurance.
- Secondly, that by following the Missed Fortune Producers' expert advice and purchasing the policies in question the clients would obtain safe, liquid, "investment grade" policies using home equity funds and other capital that would create greater wealth and security than other investments, when in fact the life insurance policies were not appropriate investment vehicles.
(p19) - The Conspiracy
- 47. OM Financial/FG Life, Andrew and Paramount Financial conspired together and with others to perpetrate the fraudulent Missed Fortune scheme.

2013 0704 - LC - Cressy vs FG Life, OM Financial, Doug Andrew, Paramount - Complaint for Damages and Equitable Relief - 39p --- [BonkNote]