Pamela Yellen

  • 2019 0712 – Commentary – Joseph Belth – No. 322: Pamela Yellen-Her Unbelievable “Bank-on-Yourself” Wealth-Building Strategy – [link]
  • The Lafayette Life Connection
    • Allan S. Roth is a certified financial planner and a certified public accountant. He has worked as a public accountant with KPMG, and has been with McKinsey & Company, Kaiser Permanente, and Wellpoint. Recently I saw an article by Roth entitled “Bestselling book’s financial promises don’t add up.” On December 11, 2012, CBS News posted Roth’s article, which was about Yellen’s first book. Roth said in his article that he had met with a Yellen authorized advisor, who had made a presentation. Roth further said in his article that he had tried hard but had not been able to make sense of the numbers in the presentation. Roth said in his article that the authorized advisor’s presentation had been based on a policy offered by The Lafayette Life Insurance Company, and that he (Roth) had been in touch with Lafayette Life about the presentation.
  • My Correspondence with Lafayette Life
    • On June 21, 2019, I sent a letter by regular mail to Bryan Chalmer Dunn, the president and chief executive officer of Lafayette Life. I asked several questions about the relationship between Yellen and Lafayette Life. I asked for a response by the close of business on June 28.
  • Text of July 2 Email from Planck to Belth
    • Lafayette Life’s products are sold through independent agents and independent marketing organizations.
      • Our role is limited to providing life insurance policies and annuity contracts.
      • We do not endorse or sponsor any selling system nor do we develop, advertise or promote the marketing content or materials for any selling system.
      • We do not inquire about, attempt to determine, or identify in our systems whether any independent agents appointed to sell our products are users of any specific selling system.
    • Please be assured that Lafayette Life makes it clear through our contracts with those selling our products and disclosures to our customers that our life insurance policies and annuity contracts are insurance products.
  • General Observations
    • Lafayette Life appears to take no interest in or responsibility for the methods used by the independent agents who sell its policies.
    • Further, I think the same can be said about many if not all other companies that sell their policies through independent agents.
    • In my opinion, this is a matter of serious concern, for two reasons.
      • First, sales methods may be deceptive, misleading, or otherwise unfair to consumers.
      • Second, companies and state insurance regulators may find it difficult to police the sales methods used in the field by independent agents.