Former WFG Agent - Should I retire?

[DHK]

I couldn't really tell you. Each company is obviously different.

I (legally) cheat. I look at the year 5 available cash values.
- If it's option A for level death benefit and you have 50% or higher available cash values (not "account value" but surrender value) as illustrated, that's a properly structured policy for a level or option A death benefit.

- If it's option B for an increasing death benefit (much lower starting death benefit compared to option A) and you have 75% or higher available cash values (again, not "account value" but surrender value)... THAT is a maximum-funded policy.

It's just my own rules of thumb. If it's lower than those numbers, it's generally under-funded for proper policy design.

 

[Guest - 73894]

I run the illustrations based off of premium, increasing death benefit.

 

[toolbelt]

The "ideas" just aren't a good substitute for good training and a proper system from day one.

But his ideas are perfect if you want people to lose more money, or lose money faster, pursuing the MLM fantasy. He sounds much like Robert Kiyosaki, a failed Amway distributor who wrote a book that an Amway upline discovered he could make money off by promoting it to his force. So began a marriage made in hell.

 

[toolbelt]

but I'm still turning in apps.

In MLM, its not a question of turning in Apps. Its a question of who's being sold the policy. Recruit 2, sell to both.....and one of their mothers. If you repeat that process, and consider yourself an independent business, then you are clearly running an illegal pyramid scheme according to the FTC, more specifically, the Koscot Rule.

 

[toolbelt]

More power to the top producers at WFG for their wins.

When wins count on the loses of others, its a scam. If the FTC were to apply existing rules to the MLM industry, it would be shut down overnight. Although Herbalife was only fined $200M and placed on 7 years probation, which is actually the smartest strategy employed by the FTC to date.

 

[MustangGT2000]

When wins count on the loses of others, its a scam. If the FTC were to apply existing rules to the MLM industry, it would be shut down overnight. Although Herbalife was only fined $200M and placed on 7 years probation, which is actually the smartest strategy employed by the FTC to date.

We need to take ownership when signing up with a company. I was well aware the MLM program at WFG. I think the platform is fine and legit but extremely difficult to make a business reaching out to friends and family. The top producers started 10 to 15 years ago. Today everyone and their mother knows about WFG. Almost every person I recruited said they knew about WFG.

 

[Cornelius]

Two words..What if?

 

[WinoBlues]

Two words..What if?

Lottery.

 

[Cornelius]

Today companies do have the ability to offer products which do not require a license. So new people can offer other products or services before they become life licensed.

 

[WinoBlues]

We need to take ownership when signing up with a company. I was well aware the MLM program at WFG. I think the platform is fine and legit but extremely difficult to make a business reaching out to friends and family.

Dude! You are an FE recruiter. Not remotely a knock. Look in FE recruiting. 5-10 years ago most of those guys were doing something different.

Look into that.