LICAC

Alerting about potential risks of certain types of life insurance policies & advocating for consumers

12/22/2025

Do you have a flexible premium life insurance policy?

These policies - also called Universal Life - can lead to false expectations among consumers who do not understand what a flexible premium means. Many consumers, unaware of how flexible premiums work, are surprised when, after paying premiums faithfully for many years, they are told by the insurance company that their policy will lapse if premiums are not increased, sometimes by large amounts.

Learn more about flexible premium policies, and our recommendations for optimizing benefits and reducing risks with these types of policies:

https://lifeinsuranceconsumeradvocacycenter.org/the-problem-with-flexible-premiums/.

12/16/2025

The Life Insurance Consumer Advocacy Center (LICAC) is calling on life insurance companies and agents to improve communication and transparency practices regarding flexible premium policies. Current practices are damaging, taking advantage of consumers by giving them a false sense of security on policy sustainability.

Read more:
https://lifeinsuranceconsumeradvocacycenter.org/life-insurance-consumer-advocacy-center-calls-on-life-insurers-to-improve-practices-regarding-flexible-premium-policies/.

11/17/2025

“NASCAR star Kyle Busch and his wife, Samantha, recently said they lost more than $8 million after buying a life insurance policy that they claim was pitched to them as a ‘tax-free retirement plan.’” https://moneywise.com/insurance/life/kyle-buschs-8m-loss-is-a-warning-to-those-with-this

No one is immune from predatory practices in the life insurance purchasing process. Misleading claims used to sell “tax-free retirement income” through life insurance plans are common and can cause serious harm to individuals and their families.

The Life Insurance Consumer Advocacy Center is committed to bringing awareness to these practices and advocating for policy changes that will protect consumers.

Learn more about our thoughts on the lure of tax-free retirement income, and why these policies often do not work in practice, here: https://www.lifeinsuranceconsumeradvocacycenter.org/the-lapse-problem/

The problem with hidden fees: https://www.lifeinsuranceconsumeradvocacycenter.org/lack-of-transparency/hidden-fees/
The issue of consumer best interests: https://www.lifeinsuranceconsumeradvocacycenter.org/our-issues/your-best-interest/
The problem with especially tricky policies: https://www.lifeinsuranceconsumeradvocacycenter.org/lack-of-transparency/especially-tricky-policies/

10/22/2025

Does your life insurance policy have hidden fees?

Consumers need to understand the type and size of the fees that must be paid to maintain their life insurance policies, but consumers are rarely given meaningful disclosure of those fees. That will continue to be the case unless disclosure requirements are adopted universally.

To learn more about Hidden Fees, visit: https://www.lifeinsuranceconsumeradvocacycenter.org/lack-of-transparency/hidden-fees/.

10/14/2025

Meet Our Team: Jerry Vanderzanden

Jerry Vanderzanden is the Secretary of LICAC and a principal at WSLV, LLC, offering insurance analytics and consulting services. A credentialed, fully licensed insurance professional and Certified Insurance Fiduciary®, Jerry’s firm provides risk management and insurance solutions to financial advisors.

With over 35 years in financial services, Jerry has held senior roles in life insurance, including leading the life insurance division of a national marketing organization. He has worked in various areas such as distribution, product management, and advanced markets.

Jerry is a member of Finseca, past president of the Golden Gate Chapter of the Society of Financial Service Professionals and holds professional designations as a Chartered Life Underwriter (CLU) and Chartered Financial Consultant (ChFC). He also holds FINRA Series 7, 24, and 63 registrations and is a licensed life and health insurance agent.

Learn more: https://www.lifeinsuranceconsumeradvocacycenter.org/about-us/jerry-vanderzanden-clu-chfc/.

10/06/2025

Do you know your agent's commission and compensation?

Consumers are rarely informed of the amount of a commission, nor of other compensation (e.g., trips and prizes awarded by the insurer to top producers) that an agent may receive from making a life insurance policy sale. Even though the commission does not come out of the consumer’s specific policy account, commissions are ultimately paid indirectly by the consumer in the fees paid to the insurer. Consumers should be informed of commissions and other compensation earned by their agent related to their policy.

To learn more about hidden commissions, visit: https://www.lifeinsuranceconsumeradvocacycenter.org/our-issues/hidden-commissions/.

09/30/2025

Some Indexed Universal Life Insurance Policies include anti-consumer features. These tricky policies can include:
1. The Multi-Year Indexed Strategy Trap
2. Illusory Guarantees
3. Use of Multipliers to Boost Illustrated Values

State insurance regulators should examine, through hearings or otherwise, whether these kinds of features are harming consumers, and how to address it.

To learn more about these tricky policies, visit: https://www.lifeinsuranceconsumeradvocacycenter.org/lack-of-transparency/especially-tricky-policies/.

09/29/2025

Term life policies and permanent life policies are the two main categories of life insurance policies. They have distinct differences in how they are maintained and the benefits they offer. Make sure you are getting a policy that is right for you.

Learn more about the common types of insurance policies at:
https://www.lifeinsuranceconsumeradvocacycenter.org/life-insurance-101/

09/23/2025

Meet Our Team

LICAC Board Member Charles Freiberg is a graduate of UC Berkeley (Phi Beta Kappa, Political Science) and UC Berkeley School of Law (Order of the Coif). He practiced law for 32 years, first as a partner at Heller Ehrman (1976-2008) and later at Kasowitz Benson Torres (2008-2018). Specializing in representing corporate and individual insurance policyholders, Charles litigated life, property, and liability insurance disputes in both state and federal courts, earning recognition as a Northern California Super Lawyer in Insurance Coverage.

Charles has served on the boards of numerous educational and law-related organizations, including the California Legal Services Trust Fund Commission (Chair and Trustee), the American Bar Association Commission on IOLTA, and Bay Area Legal Aid.

Learn more: https://www.lifeinsuranceconsumeradvocacycenter.org/about-us/charles-n-freiberg/

09/17/2025

We believe agents selling life insurance products should be required to recommend only policies that are suitable for the consumer and must be required to act in the best interest of the consumer, i.e. without regard to their own interests, which are often in conflict with the consumer’s. However, currently policies and regulations do not require this, negatively impacting consumer protections.

To learn more about agent conflicts of interest, visit: https://www.lifeinsuranceconsumeradvocacycenter.org/our-issues/your-best-interest/.

09/11/2025

Meet Our Team

Roger Patterson, founder of The Advisory Group of San Francisco, LLC, a fee-only fiduciary Registered Investment Advisor serving individuals, companies, and not-for-profit endowments and foundations. Though retired from day-to-day operations, he remains a co-owner and board member.
Roger started his career in estate planning and life insurance, later serving as Vice President of Financial Services at a Bay Area bank. In 1989, he founded one of the nation’s first fee-only, fiduciary firms, which became The Advisory Group of San Francisco, LLC in 1999. The firm focused on transparent, client-first financial planning.

A Stanford graduate (1963), Roger holds the Chartered Life Underwriter and Chartered Financial Consultant designations. He is actively involved in supporting under-served and less fortunate youth, currently involved with Blues in the Schools and other not-for-profit boards.

Learn more: https://www.lifeinsuranceconsumeradvocacycenter.org/about-us/roger-patterson/.

09/05/2025

Insurer Avoids Court Review of Whether California’s Lapse Statutes Apply to Out-of-State Policies

Read more: https://www.lifeinsuranceconsumeradvocacycenter.org/insurer-avoids-court-review-of-whether-californias-lapse-statutes-apply-to-out-of-state-policies/

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25A Crescent Drive #415
Pleasant Hill, CA
94523

Website

https://www.lifeinsuranceconsumeradvocacycenter.org/

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