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Copyright (c) 2008 Bill Broich
On this day in age when financial markets are in disarray and the future of money from many people is in doubt Why does the government want to do a standard (a punishable offense) not to allow the industry to inform potential customers of a safety net?
How can this make sense? Our banking institutions have a safety net. It's called the FDIC and is proudly displayed on accessories, doors, desks, tables, stationery and websites. Anyone doing business with a bank knows what the FDIC is to … that represents the security guarantees and insurance protection. Create a piece of mind and allows depositors in the banking sector to be free of fear. The underlying collateral is backed by the full faith and credit of the U.S. government. Your funds are guaranteed and always be safe.
What about credit unions? The funds in your credit union are insured by the National Credit Union Share Insurance Fund. (NCUSIF). This protection was created by Congress in 1970 to insure member share accounts at credit unions with federal guarantee. All insured credit unions federally proudly proclaim this insurance and make sure you know that your funds are safe. Guarantees of the safety and security is his mantra and want you to be aware of it.
How about brokerage accounts? What insurance is available to investors? Protection in the place is called the Securities Investor Protection Corporation, which was created by Congress in 1971 to ensure that any brokerage firm that became insolvent due to regulatory issues or bankruptcy would protect investors from the lack of such assets as collateral. Without SIPC an investor could possibly lose their securities or money or be tied up in protracted litigation. The cards are displayed SPIC promptly to all participating securities firms on their doors, furniture and the Most of the correspondence. This insurance gives peace of mind of investors on access and availability of funds and assets.
What about companies insurance? Life insurance and annuity products? It seems that the government does not want you to know about their security and the question is why? Why do not want the consuming public to know the network security "secret?" Each state participating in these securities and is known as "the guarantee of State ". This warranty is in place to help and assist homeowners policy in the event of insolvency of an insurance company to provide funding and liquidity. Overall coverage and protection for different policies and limits of protection varies from state to state.
Here's the incredible part: Most states do not allow an insurance agent to inform their perspectives on the underlying collateral until after they have decided to purchase the insurance product. Insurance agents are not authorized by ensuring their doors, furniture or correspondence. Advertising is strictly forbidden and yet remains Question …. Why?
Banks, credit unions, brokerage firms can advertise, discuss, display and market their guarantees, and yet the insurance agents and companies are prohibited. Insurance agents should not use this information to induce a sale, however, I would never do a deposit at a bank without prompting by the FDIC?
The question remains unanswered. Why is this guarantee is not available to people who are considering an insurance product? How can banks and other institutions announced this warranty and not insurance agents?
In this time of great financial stress would be comforting for a perspective of knowing about this safety net? The protection along with large contractual guarantees would more likely to buy an insurance product and a banking product, it seems to me anyway.
Perhaps I've answered the question myself ……
About the Author:
Bill Broich helps insurance agents generate annuity leads and sales. http://www.annuity.com
Article Source: ArticlesBase.com – The Government Doesn’t Want our Prospects to Know About Annuity Insurance…why?
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