Audio/Web Conference: The Glenn Neasham Case: Lessons Learned
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One night during dinner with his family, a successful insurance agent answered a knock on the door and was removed from his home in handcuffs by two officers from the local sheriff's department, the beginning of a two-year nightmare ending in a criminal conviction (currently on appeal) for grand theft.
His crime? Selling a seemingly competent older woman an indexed annuity, approved for sale at her age in his state. The theft? The surrender charges associated with the annuity. His E&O carrier? No support—criminal actions aren't covered.
His consequences: permanently barred from selling insurance, he has lost his home, his income, his assets, and his dignity. Today he subsists on food stamps and the charity of neighbors and church members while waiting to see if he will get a new trial or will proceed to jail to finish out his sentence.
This webinar is a live interview of lawyers and agents who will dissect the crucial elements of the case. Attendees will be informed of the new thresholds of peril in selling products to seniors. The Society is the only industry organization bringing to its members actionable information about this unprecedented case that brings chills down the spine of anyone who has ever sold a product or given advice to someone age 65 or older. Program includes a Q&A portion.
Richard M. Weber, MBA, CLU®, AEP® (Distinguished) is President-elect of the Society of Financial Service Professionals. A 45-year veteran of the life insurance industry, he has been a successful agent, an insurance company executive, and now a consultant to insurers and their agents on the topic of effective and ethical selling. Author of more than 300 articles encompassing products, sales practices, and the due diligence necessary to buy and sell insurance, his most recent research, Life Insurance as an Asset Class — co-authored with Christopher Hause — received the 2008 Academy of Financial Services "Best Paper" award. Mr. Weber has been a member of the Society of Financial Service Professionals since 1974 and has been honored with the Society's Kenneth Black, Jr. Leadership Award.
Panelists: Burke Christensen, JD, CLU