The following is in response to Bob Veres’ article, Crashing Through the Insurance Industry's Wall of Silence, which appeared last week:
Dear Editor,
I very much appreciate Bob's fine article and your publishing of it. Bob has done another excellent job in reporting upon and bringing attention to my effort to bring reform to the life insurance industry by providing the product disclosure that consumers have always needed and deserved. Admittedly, as the subject of the article, I am hardly impartial, but I would like to briefly compliment both Bob and you for your coverage of this vital age-old national problem – the terribly inadequate disclosure of cash value life insurance.
Thank you and Bravo to you both!
As I have mentioned to Bob, and as he has acknowledged my work indicates, I have been working steadfast for years to resolve this readily solvable national problem that has so many pernicious consequences: Terribly inefficient distribution of a vital financial product, terribly inadequate usage of a vital financial product, pervasive misrepresentations about a vital financial product, consumer avoidance of a ….., and the list goes on and on. No marketplace can function without good product disclosure. This fact is especially relevant regarding a financial product that consumers can find confusing, and that has been marketed with sales loads that no informed consumer would accept.
Again, your publishing of Bob's article about this problem is important, not just to me personally, but because of the extraordinary significance of the subject. The article brings attention of this woefully neglected subject to your important audience's attention. Thanks to you both again for such important public service. As I have told practically every journalist and publisher I have talked with for over the past 20 years, there is a Pulitzer Prize waiting to be seized by the journalist and publisher who provide the vital coverage of this age-old national disaster – a disaster that is replete with absolutely fascinating uncovered stories regarding extraordinary financial fraud, regulatory incompetence, comatose consumer advocacy, and a virtually absent financial media.
