Brian Kay - NACFA

Discussion in 'Life Insurance Forum' started by sevenbravo, May 14, 2010.

  1. sevenbravo
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    sevenbravo New Member

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    I have been getting mail from this guy and his crew in regards to some college funding plan. NACFA = Nation Association of College Funding Professionals. Anybody heard of this group? In the end, insurance product are they really selling to the customer? It seems like this is a plan to help the agent put their kids through college, not the client, based on the income claims...
     
  2. Death Cab For Tootie
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    Death Cab For Tootie Guru

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  3. DHK
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    DHK I Am Not Your Guru

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    Until you understand EFC and how it's calculated... then yes, you'll think that's it's all a scam to send an agent's kids through college.

    College Funding
     
  4. coachd
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    coachd Guru

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    I had new clients this way. it is good. Make sure you do not charge to fill out the FASFA. That is against the law.

    I know they say to do it. I did not believe it was until the person showed me. I stopped filling it out.
     
  5. mickeyma
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    mickeyma Guru

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    Brian Kay founded CASH and I have his material. It's very good and is along the lines of Jeff Paul, Dean Cipriano, etc.

    I know of two good agents who tried this approach but failed. One said only the lower-income people came to seminar and didn't have stocks or CDs to convert to annuities. The second agent said the kids couldn't make up their mind if they wanted to go to college and which colleges
    they wanted to attend.

    Interested in hearing other comments.

    Check out AMZ Financial. I have received several emails @ their college funding plan.
     
  6. Stephen
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    I requested the information and get the emails as well. I think that it could be good for the right person in the right situation,but not for me right now .
     
  7. DHK
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    DHK I Am Not Your Guru

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    What did this have to do with college funding?

    This was about taking HOME EQUITY and putting it in securities - which is illegal and unwise to say the least.
     
  8. GAHEALTH
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    GAHEALTH Guru

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    She was using College Funding seminars to get the prospects to meet with her. Her plans included the refinance/2nd mortgage to improve cash flow and purchase VULs to help finance the college education.
     
  9. arnguy
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    arnguy Guru

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    Greg "somebody" who is forum member does College Funding. I'll think of his name at 3 AM so if you leave me your telephone number I'll be sure to call you at that time!
     
  10. DHK
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    DHK I Am Not Your Guru

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    Yeah... and that's not a problem.

    And that IS the problem - regardless of the PURPOSE of the plan, it is ILLEGAL to solicit the use of home equity proceeds to fund any vehicle that has securities.

    College funding happened to be the excuse the criminal used to fund these VUL plans.
     
    Last edited: Apr 29, 2011

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