Despite a wide array of options worldwide, only six companies and their agents are approved to sell life insurance and mutual funds on Defense Department installations in Japan, Okinawa and South Korea, according to Pacific Command’s 2007 list of accredited organizations.
PACOM must update and publish the list of approved insurers annually, according to the DOD instruction governing commercial solicitation. At overseas military bases, where neither federal nor state consumer protection regulations apply, companies and agents must meet annual DOD accreditation requirements to seek servicemembers’ business.
In recent years, sales practices of agents operating in the United States for a handful of insurance companies came under scrutiny after disclosures they were targeting young servicemembers — some still in basic training — for costly life insurance policies they may not have needed. In January 2005, American-Amicable Life Insurance announced it would pay about $1.3 million to more than 900 Georgia servicemembers who were sold policies while in training, a practice barred by both DOD and the state.
Marine Maj. Dave Griesmer, a PACOM spokesman, said in a written statement that DOD accredits companies while the Unified Combatant Commander’s staff for that command’s region approves agents. Companies are required to seek certification each year. In the Pacific, agents must apply annually to the PACOM insurance accreditation program manager.
Each installation commander sets specific procedures for that base and appoints a solicitation manager to confirm that companies and agents are accredited, the DOD directive states. To sell securities, agents must apply directly to the installation commander and meet additional requirements.
For accreditation, DOD requires that life insurance companies maintain continuous successful operation for at least five years and be listed in Best’s Life-Health Insurance reports with a B+ rating or better the preceding year.
According to the instruction, requirements for life insurance and securities agents can vary, but both must provide certified copies of current licenses and notarized letters from the companies they represent. They’re also obligated to complete a form giving contact and identification information and details of products they sell.
Among other prohibitions: DOD bars door-to-door sales, making appointments or soliciting servicemembers on duty and using rebates to facilitate transactions or eliminate competition. Agents generally are permitted to seek a sale only after making an appointment with an individual.
One agent was removed from this year’s list following a reported violation on a base in Japan, Griesmer said. The individual was not named, but an investigation found he failed to comply with a stipulation requiring insurance agents to identify themselves to prospective buyers as an agent for a specific insurer when establishing an appointment.
The list of agents and companies currently barred, banned or limited from soliciting on any or all DOD installations is available through the “Personal Commercial Solicitation Report” link at www.commanderspage.com.
Approved insurers in Pacific
The following companies and agents are allowed to solicit life insurance policies and mutual funds sales on DOD installations in Japan, Okinawa, South Korea and Guam, according to a list released by PACOM:
American Fidelity Life Insurance Company:Joel A. Bollag (Okinawa/Japan)Robert Deck (Okinawa/Japan)Geoffrey L. Noel (Okinawa/Japan/Korea)Larry Simmerman (Okinawa/Japan/Korea)Government Personnel Mutual Life Insurance Company:Reginald W. Albritton (Korea)Kenneth F. Black Jr. (Okinawa/Japan/Korea)Ronald M. Coyle (Okinawa/Japan/Guam)Edgard DeBruycker (Japan/Okinawa)David J. DeHarty (Okinawa/Japan)Bruce S. Goodson (Japan/Okinawa)Jeffrey G. Howard (Okinawa/Japan)Mickey A. Howard (Okinawa/Japan/Korea)Robert. J. Hughes (Okinawa/Japan)Shin S. Im (Okinawa/Japan/Korea)William J. Kelly (Okinawa/Japan)John H. Lee (Okinawa/Japan)Brian C. McIntee (Okinawa/Japan/Korea)John D. McMenamy (Japan/Okinawa)Robert L. Morris (Okinawa/Japan)George E. Moyer (Okinawa/Japan)Theodore F. Pope (Okinawa/Japan/Korea)Dennis E. Provencher (Okinawa/Japan)James W. Sage (Okinawa/Japan)Norris L. Smith (Okinawa/Japan)Lawrence W. Wilson (Okinawa/Japan)Midland National Life Insurance Company:Kendall Lewis Baker (Japan)H. Humphrey Hinton (Japan)James L. Johnston (Japan)George Stout (Japan)National Western Life Insurance Company:David Guidinger (Japan)Trans World Assurance Company:Reginald W. Albritton (Japan/Korea)Kenneth F. Black (Japan/Korea)Ronald M. Coyle (Japan/Okinawa)Bill Crumby (Japan)Edgard DeBruycker (Japan/Okinawa)David J. DeHarty (Okinawa/Japan)Bruce S. Goodson (Japan/Okinawa)Jeffrey G. Howard (Japan)Mickey A. Howard (Japan)William J. Kelly (Japan)John H. Lee (Japan)Brian C. McIntee (Japan/Korea)John D. McMenamy (Japan/Okinawa)Robert L. Morris (Japan)George E. Moyer (Japan)Charles Olsen (Japan)Theodore F. Pope (Okinawa/Japan/Korea)Dennis E. Provencher (Japan)Norris L. Smith (Japan)Lawrence W. Wilson (Japan)Integrated Financial Planning Services-Mutual Funds:David Guidinger (Japan)
