[Fredslist] Crain's Article Features Gothamite Linda Lamel - Bravo!

[kelly at wellesfinancialservices.com]

Lisa,
 
Thank you for this informative and insightful article about the current plight of  the insurance industry. Linda, kudos to you. Put those ratings harpies in their place. Linda ought to know. She was a former Assistant Commission of Insurance for New York State. Bravo!
 
I remain confident that the industry will survive despite the toxic assets and encircling scavengers. There will be casualties to be sure. However, New York State does have the New York Reserve Fund protecting up to $500,000 in benefits per policy, if anyone is wondering. A few clients have asked in recent days. So...just in case.
 
Moreover, the U.S.government's economic stability depends on the income guarantees that only insurance can provide businessess, employees, families and individuals, in the event of a destabilizating life event such as death, disability or medical need. Not to mention the tax base of these multi billion dollar companies. Or the sea of funds they drive through banks.
 
Life and disability insurance prevent afflicted individuals and families from going on the dole.
 
Life insurance and disability insurance not only safeguard dignity, they prevent individual foreclosures, bankruptcy, insolvency, lost opportunity and the unraveling of the family unit.
 
Banks and money managers value insurance because it prevents a run on demand deposit accounts and depletion of investment and savings portfolios.
 
The business community values insurance because it preserves purchasing power by permitting money to remain in circulation.

Moreover, since the inception of the stock market three hundred years ago, I take comfort in the observation that the market's overriding trend in this period has been up, despite the not infrequent dips. As a species, we are motivated to triumph over adversity. It might take a while. But we're hardwired to succeed.
 
Take heart.
 
Gothamly,
 
Kelly Welles, LUTCF
Co-Chair Diversty
Asset Protection Strategist
 
Specializing in group health & retirement cost-containment and asset and income protection utilizing life, disability long term care insurance in buy-sell funding and
estate planning.
 

Optimizing Personal Financial Assets
wellesfinancialservices.com
Kelly Welles, Managing Director
(917)626 8590

--- On Mon, 4/6/09, Lisa Waterman <WATERMAN at israeloff.com> wrote:


From: Lisa Waterman <WATERMAN at israeloff.com>
Subject: [Fredslist] Crain's Article Features Gothamite Linda Lamel
To: fredslist at gothamnetworking.com
Date: Monday, April 6, 2009, 12:26 PM








With the possibility of some of our country’s major insurer’s needing a lifeline, the following article on Crain’s New York Business’ online edition features commentary by our very own Linda Lamel, Esq.
 
http://www.crainsnewyork.com/article/20090405/FREE/304059971 
  
 
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