Conseco Final Expense....

[pfs.bjohnson]

Does anybody have any experience with them? Do they offer immeidate, graded, ROP such as most others? Commissions, turn-time, service? Any thoughts, comments would be appreciated. Thanks

 

[Mark]

I would not touch them with a 10 foot pole. Worse company I ever had anything to do with...The stock was not even worth wiping your butt on. There is a reason why AM Best kept giving them hell.

Long story short,,,don't have anything to do with them.

You were warned...Don't come back here crying if you do.

 

[Lifeman09]

We have Conseco but we ve never used conseco for final expense at all, there are much better companies out there for that.

 

[pfs.bjohnson]

I would not touch them with a 10 foot pole. Worse company I ever had anything to do with...The stock was not even worth wiping your butt on. There is a reason why AM Best kept giving them hell.

Long story short,,,don't have anything to do with them.

You were warned...Don't come back here crying if you do.

Any way that you might be able to speak on any specifics as to why you are so against them?

 

[Girl Insure]

Everything I have heard about them has been negative, United Home Life, Colorado Bankers, and American Amicable much better.

 

[Mark]

Everything I have heard about them has been negative, United Home Life, Colorado Bankers, and American Amicable much better.

I agree with you.

United Home Life

American Amicable

Foresters Life

are all much better.

 

[Yoda]

Conseco in the late 90s and started buying out insurance companies right and left. A lot of good insurance companies Agents often sold such as pioneer life,colonial penn,washington national,transport and american travelers were ruined after being gobbled up by Conseco. Then Conseco decided to get into the mortgage business and started giving out loans on trailer homes in Florida. Soon thousands of people began to default on their trailer home loans and when Conseco foreclosed on them they found out that used trailers have no resale value and Conseco soon found itself going bankrupt. The whole company was set to fall like Enron except for one little loophole. It turned out that Conseco's insurance business's were protected from losing money by law in order to protect the policy holders so the creditors could not seaze any of Conseco's assets tied to insurance. So Conseco dodged bankruptcy due to a technicality. In short the insurance world would be a better place if Conseco would have never existed!

 

[insuranceexec]

Conseco in the late 90s and started buying out insurance companies right and left. A lot of good insurance companies Agents often sold such as pioneer life,colonial penn,washington national,transport and american travelers were ruined after being gobbled up by Conseco. Then Conseco decided to get into the mortgage business and started giving out loans on trailer homes in Florida. Soon thousands of people began to default on their trailer home loans and when Conseco foreclosed on them they found out that used trailers have no resale value and Conseco soon found itself going bankrupt. The whole company was set to fall like Enron except for one little loophole. It turned out that Conseco's insurance business's were protected from losing money by law in order to protect the policy holders so the creditors could not seaze any of Conseco's assets tied to insurance. So Conseco dodged bankruptcy due to a technicality. In short the insurance world would be a better place if Conseco would have never existed!

Excellent synopsis!

 

[jody108]

Really? That is a compliment Yoda.

And Brandon... Why are you looking at Conseco? Plan on going with Bankers .

 

[Mark]

Conseco in the late 90s and started buying out insurance companies right and left. A lot of good insurance companies Agents often sold such as pioneer life,colonial penn,washington national,transport and american travelers were ruined after being gobbled up by Conseco. Then Conseco decided to get into the mortgage business and started giving out loans on trailer homes in Florida. Soon thousands of people began to default on their trailer home loans and when Conseco foreclosed on them they found out that used trailers have no resale value and Conseco soon found itself going bankrupt. The whole company was set to fall like Enron except for one little loophole. It turned out that Conseco's insurance business's were protected from losing money by law in order to protect the policy holders so the creditors could not seaze any of Conseco's assets tied to insurance. So Conseco dodged bankruptcy due to a technicality. In short the insurance world would be a better place if Conseco would have never existed!

They went crazy spending money. Made some big mistakes like buying green tree and lost tons of money.

The stock went down to 3 cent a share and am best at one time called them JUNK.

I could sit here all day long and tell you why they suck.

I can't think of a worse company to work with.