Insurance Agent Designations

[Agent045]

Hello All,
I am pretty new to the insurance industry. I have two questions. Is it better to get appointed direct or go through a FMO? Also I am looking for some good healthcare plans. I was looking at Assurant and Golden Rule, do you all know of others that are good to start with?.. Thanks

 

[Dave020]

Somarco should be along shortly or you can PM him. He is the GA guru for health insurance.

 

[padthaiforlunch]

Yeah, I would drop the CSA. Several carriers I'm contracted with have it on the list of non-approved designations.

 

[GreenSky]

Yeah, I would drop the CSA. Several carriers I'm contracted with have it on the list of non-approved designations.

CSA is changing their training to comply with carriers. The problem (as I see it) is that the CSA was never meant to be simply an insurance designation as it encompasses much more. The industry apparently wants it more focused.

The one designation I am most proud of is CSA because of the general information. It's focus was more on needs of seniors and empathy with them.

As far as carreirs, I think it was mainly investment companies that have a problem.

Rick

 

[padthaiforlunch]

Massachusetts has prohibited most financial advisers from using titles like "certified senior adviser," and some of the largest insurers, including Metlife and Genworth Financial, have similar rules.

As it stands, the CSA has a negative connotation. The designation is equivalent to a degree form a diploma mill. All that is required is for one to spend around a thousand bucks, four days and take a multiple choice test that 97% pass, with questions like, "Marketing can best be described as:" (The answer: "The process or technique of promoting the sale or distribution of a product or service.")

I'm not really sure why anyone would want to hold themselves out there as, "I took a four day class to teach me how to talk to and empathize with seniors." If you really explain that is what the designation means, only the most daft of seniors will think you are great for taking the time to learn how to talk with them. The rest will think you are the *** for having to pay lots of $$$ for the shortcomings of your social skill set.

Unless, of course, the real reason to use such a mail-order designation is to let the client assume you are trained to advise seniors on their finances. In which case, you are ethically challenged.

But if you don't mind being associated with a designation that is part of an investigation by the Senate Special Committee on Aging, and if you don't mind being associated with the president of that program, Larry Klein, who was fined $150,000 in the mid-1990s by securities regulators after persuading an 83-year-old blind woman to speculate on New Zealand's currency, then go ahead and tout yourself as a CSA.

Anyone half-smart who isn't ethically challenged knows that this is a BS designation designed impress ill-informed seniors, and to mislead such seniors into thinking that the person sitting in front of them pitching insurance is well-educated in how to take care of their (the seniors') finances.

 

[GreenSky]

Massachusetts has prohibited most financial advisers from using titles like "certified senior adviser," and some of the largest insurers, including Metlife and Genworth Financial, have similar rules.

As it stands, the CSA has a negative connotation. The designation is equivalent to a degree form a diploma mill. All that is required is for one to spend around a thousand bucks, four days and take a multiple choice test that 97% pass, with questions like, "Marketing can best be described as:" (The answer: "The process or technique of promoting the sale or distribution of a product or service.")

I'm not really sure why anyone would want to hold themselves out there as, "I took a four day class to teach me how to talk to and empathize with seniors." If you really explain that is what the designation means, only the most daft of seniors will think you are great for taking the time to learn how to talk with them. The rest will think you are the *** for having to pay lots of $$$ for the shortcomings of your social skill set.

Unless, of course, the real reason to use such a mail-order designation is to let the client assume you are trained to advise seniors on their finances. In which case, you are ethically challenged.

But if you don't mind being associated with a designation that is part of an investigation by the Senate Special Committee on Aging, and if you don't mind being associated with the president of that program, Larry Klein, who was fined $150,000 in the mid-1990s by securities regulators after persuading an 83-year-old blind woman to speculate on New Zealand's currency, then go ahead and tout yourself as a CSA.

Anyone half-smart who isn't ethically challenged knows that this is a BS designation designed impress ill-informed seniors, and to mislead such seniors into thinking that the person sitting in front of them pitching insurance is well-educated in how to take care of their (the seniors') finances.

First of all, your post is mostly bullshit. I did not take a multiple guess test. You're thinking of the Series 7 test. My test was essay along with fill in the blanks. Maybe it's different now, but that's not what I took.

Since you more than inferred that I am not ethical, I'll be happy to await your apology for that. And believe me, if you knew me, you would apologize. I'll match my ethics against anyone including you, anyday.

Rick

 

[GreenSky]

and if you don't mind being associated with the president of that program, Larry Klein, who was fined $150,000 in the mid-1990s by securities regulators after persuading an 83-year-old blind woman to speculate on New Zealand's currency, then go ahead and tout yourself as a CSA.

Since you don't have the CSA designation it would be okay if (for example) you did that.

I am an American so I guess I'm responsible for the president of our country being a total ***?

We can't all be a high and mighty as you are. Please tell me which of my designations I should keep. The MSAA is a mail order course, CSA you already hate, and the CBC can be done on the internet. I assume you are okay with my BA from UCLA but since that's a public school, maybe not.

Please, give me your guidance your holiness.

Rick

 

[padthaiforlunch]

Listen up Veronica, you're the one carrying on about how proud you are of being a Certified Senior Advisor. My point is that you may not want to put yourself out there as such.

Understandably, you are mad that I don't agree with you on this. And, really, I was not trying to attack you. But I do question the ethics and judgement of those who continue to use the CSA designation in today's climate. I suspect you already came to the conclusion that it is not smart to pimp yourself as a CSA, and are thus changing your letterhead. But I don't get why you want to defend the ethically challenged by going on about what a great designation it is. Clearly, opinion (states, carriers, finra, etc.) is against you.

I stand by my statement

I'm not really sure why anyone would want to hold themselves out there as, "I took a four day class to teach me how to talk to and empathize with seniors."

If you really explain that is what the designation means, only the most daft of seniors will think you are great for taking the time to learn how to talk with them. The rest will think you are the *** for having to pay lots of $$$ for the shortcomings of your social skill set.

Unless, of course, the real reason to use such a mail-order designation is to let the client assume you are trained to advise seniors on their finances. In which case, you are ethically challenged.

And no, I'm not making things up or picking on you. A quick look around and you should recognize the taint on anyone who continues to use that designation.

I suppose all of the following are mostly bullshit (to use your word).

United States Senate Special Committee on Aging

Senate Holds Hearing On Controversial “Certified Senior Advisor†Titles and Allianz Life Insurance’s Annuity Sales Practices :: Investment Fraud Lawyer Blog

Eldercare In An Age of Scarcity:Who Will Care? Who Will Pay?: Bogus "CertifiedSpecialist" Credentials Used to Mislead and Defraud Older Consumers

For Elderly Investors, Instant Experts Abound - New York Times

Christian Financial Principles - Financial Alphabet Soup - Some More Nourishing Than Others

If you're going to use letters after your name and claim to be ethical, how about using some with real meaning and education to back them up....

LUTC…Life Underwriters Training Council (takes 2 years)
CLU…Charter Life Underwriter (takes 5 years normally)
Certified Financial Planner (normally 2 years)

Let me congratulate you on the degree from UCLA. At least it ain't a $1,000 box of crackerjacks!

As for Larry Klein, no you are not responsible for his actions. I merely point out his reputation because it is relevant to the organization handing out easy peasy designations that do little but impress and mislead the undereducated consumers of insurance products.

 

[GreenSky]

Listen up Veronica, you're the one carrying on about how proud you are of being a Certified Senior Advisor.

But I do question the ethics and judgement of those who continue to use the CSA designation in today's climate.

Kim, a simple "I apologize" for you questioning my ethics would have been appreciated.

The fact that I found the CSA curriculum valuable does not reflect poorly on me. I never said it was valuable in SELLING anything.

Frankly, a CLU doesn't impress most people either.

Rick

 

[J.R.]

LUTC…Life Underwriters Training Council (takes 2 years)
CLU…Charter Life Underwriter (takes 5 years normally)
Certified Financial Planner (normally 2 years)

The CFP now requires a bachelor's degree, which I consider to be a good thing. However, I like the ChFC better because it's more comprehensive, it's just not as well known as the CFP.

The LUTC is good for new people who want a basic introduction to insurance planning, but I wouldn't use it as a designation as I consider it be the equivalent of putting an Associates Degree title next to your name (A.A. or A.S.).