New LACP Designation

[Brian Anderson]

NAIFA officially launched its new “Life and Annuity Certified Professional” (LACP) designation at the MDRT Annual Meeting in Orlando this week – which seems appropriate as the annual meeting attracts a lot of Asian attendees and NAIFA is interested in marketing the designation to insurance agents in China, Korea, Japan and India – where the LACP could be perceived as the equivalent of a college degree in those markets.

Here, agents can either meet the eligibility criteria for experience, education and commitment to ethical conduct and successfully complete the LACP examination – or for a limited time (June 2017-Dec. 31, 2018), experienced advisors can also attain the LACP certification through a professional review process in lieu of the examination. Details in the link below.

Worth the effort?

Insurance Forums | NAIFA launches LACP designation as new

 

[DHK]

http://www.insurance-forums.net/for...future-re-branding-lutcf-lacp-per-t88720.html

It certainly can't compete with CLU based only on a single 150 question exam. Being in SoCal, "LACP" is a little too close to "LAPD". lol

What does this certification 'certify'? Experience and basic life and annuity knowledge - which would be a step-up from initial licensing, but that's it.

Quite frankly, I don't see the point of it - other than NAIFA collecting examination fees and recertification fees every three years.

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I suppose it's good for people who have experience, but don't see the need (or just too lazy/busy) to study for other designations, so they can have some 'letters' after their name.

Designations need to mean something. There should be some 'meat' and 'teeth' in them. There's a dangerous precedent going on where designations are REDUCING and LOWERING requirements. At least there's an examination for the 'LACP', compared to the RFC that will grant it to you based on just being licensed. And, at least, LACP is not pretending to be a planning or consultant designation - unlike the RFC has had that reputation since its inception.

http://www.insurance-forums.net/for...designation-now-trash-designation-t81488.html

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At least for the North American market... I don't see the point. I suppose having it for the Asian markets (as listed) is good and just extending it to North America works... but I certainly wouldn't call it "the gold standard".

 

[insuranceconceptscindy]

NAIFA has been pumping this for almost a year now. I'm tempted, but I meet the criteria to essentially buy the designation. For most agents, there is an examination and other requirements, but for some of us old-timers, we just have to be a NAIFA member and have $500 on our credit card. I think that might dilute what they are trying to accomplish. As DHK said above, NAIFA is looking for any way they can to survive, by collecting exam and certification fees. Membership in a lot of professional and volunteer organizations are dwindling. NAIFA has been instrumental in my career, and in the careers of many agents. I may just do it to help them keep the lights on just a little longer. . .