2024-11-15T10:21:20-08:00 2023-12-31 851568243 MPK Advisors & CPAs 41197 Golden Gate Circle Ste 208 Murrieta CA 92562 990 2023-01-01 845006056 Life Insurance Consumer Advocacy Center LIFE 5107357191 25A Crescent Drive 415 Pleasant Hill CA 94523 Brian P Brosnahan Executive Dir. 2024-11-15 true true Michael Klein CPA P01084572 9517637970 2023 2024-10-15 13:58:12Z Brian P Brosnahan 25A Crescent Drive 415 Pleasant Hill CA 94523 249249 false X lifeinsuranceconsumeradvocacycenter.org X 2020 CA The mission of the Life Insurance Consumer Advocacy Center (the Center) isto alert the public, including consumers and policymakers, about the potential risks of certain types of life insurance policies, particularly life insurance investment schemes (LIIS) falling within the category of universal life, and about unfair practices in how such policies are sold; and to advocate for reasonable and essential consumer protections for these types of products. 5 5 0 5 0 247236 237067 0 672 12182 0 247908 249249 0 0 0 0 191 12110 37842 12110 37842 235798 211407 238556 449963 0 238556 449963 The mission of the Life Insurance Consumer Advocacy Center (the Center) isto alert the public, including consumers and policymakers, about the potential risks of certain types of life insurance policies, particularly life insurance investment schemes (LIIS) falling within the category of universal life, and about unfair practices in how such policies are sold; and to advocate for reasonable and essential consumer protections for these types of products. false false 19170 In 2023, LICAC worked to secure legislation that would protect consumers of annuities, including by imposing higher duties on agents who sell annuities. This work included extensive communications with the California Department of Insurance and both houses of the state legislature. Among other things, we provided position papers and legislative testimony concerning California SB 263. Unfortunately, the final bill, as passed, is much less protective of consumers than we sought, as it largely mirrors the model rule promulgated by the National Association of Insurance Commissioners and is now adopted in nearly all states. However, we did succeed in obtaining some improvements over the NAIC Model regulation (e.g., agent recommendations to purchase or exchange annuities must be in writing). Through its website and media outreach, such as press releases, LICAC educated consumers about the dangers presented by SB 263 and various risks to consumers in the life insurance and annuities marketplace. LICAC worked with other consumer groups to prepare comments regarding the United States Department of Labors Fiduciary Rule. This would inaugurate important protections for consumers of certain retirement products, including annuities. LICAC publicized the proposed rule's benefits through media outreach and on LICACs website. LICAC also provided direct service to some consumers who sought help with policies they had purchased. Lastly, LICAC is represented at the NAIC by Board Member Richard Weber, who has served as a Consumer Representative beginning in 2023 and attends all national meetings on behalf of LICAC. 19170 false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 false 0 false false false false false false false false X 5 5 false false false false false false false false false false false false false false false false false false CA X Richard Weber 5107357191 25A Crescent Drive 415 Pleasant Hill CA 94523 X Richard M Weber Treasurer 10.00 0.00 X X 0 0 0 Brian P Brosnahan Executive Dir. 10.00 0.00 X X 0 0 0 Gerard J Vanderzanden Secretary 5.00 0.00 X X 0 0 0 Charles Freiberg Director 1.00 0.00 X 0 0 0 Roger B Patterson Director 1.00 0.00 X 0 0 0 0 false false false 0 237067 237067 0 12182 12182 0 0 0 0 0 0 0 0 249249 12182 X 0 0 0 0 0 0 0 0 0 0 0 1318 1318 1500 1500 0 0 0 30226 17056 13170 191 191 0 2160 1080 1080 0 0 54 54 0 93 93 0 0 0 1154 1154 Dues & Subscriptions 1034 1034 Taxes & Fees 90 90 Postage and Shipping 16 16 Bank Charges and Fees 6 6 0 37842 19170 18481 191 48031 40188 190525 409775 0 0 0 0 0 0 0 0 0 0 0 0 0 238556 449963 0 0 X 238556 449963 238556 449963 238556 449963 211407 X false false false Form 990, Part VI, Section B, Line 11b No review was or will be conducted. Form 990, Part VI, Section B, Line 12c Each Board member is responsible for identifying and reporting any potential conflict of interest to the full board for discussion. Form 990, Part VI, Section C, Line 19 No documents available to the public.