by Structured Settlement Watchdog®
Structured settlement buyers' rampant and misleading use of insurance terms in advertising continues. Today's bugaboo is about Bethesda MD based Seneca One's use of the term ""annuity specialist"
The Certified Annuity Specialist designation is issued by the Institute of Business & Finance through a six-module curriculum, which take 23 hours or less to complete, a written case study and requires 15 hours per year of continuing education for the first five years following certification. The course includes an open-book case study as well as a final exam administered by FINRA. Source: Investopedia, IB&F
In its web page entitled getting started Seneca One, on Day One Seneca One states that "an annuity specialist" works with you to create a funding plan. On Day 3, Seneca One states that that "an annuity specialist is then with you every step of the way"
Does Seneca One's use of the term "annuity specialist" imply that their employee or agent is insurance licensed in the state of solicitation? ARE THEY?
Does Seneca One's use of the term "annuity specialist" imply that their employees or agents have earned the Certified Annuity Specialist professional designation? HAVE THEY?
I intend to write to various state insurance commissioners, my congressmen and the Departments of Consumer Affairs in my home and surrounding states. I encourage my readers to do the same. It is only by (1) exposing these practices, (2) advocacy and (3) action that things are going to change.
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