GTBK Marketing Dennis Tubbergen

[Freddie]

Immediate Legacy Experience:

Was unable to attend the seminar in OK City in late October and was invited to attend a Webinar a week later. Very interesting concept and discussed with attorney to get his thoughts - he agreed if the numbers stood up it all looked really good. When I asked about the SPIA returns during the webinar, Turbergen said he had 56 carriers to shop the best rate for each case. Pretty exciting.

I decided to verify the key necessity for his plan to work before signing up for his seminar: An 11.8% net annual return on a SPIA for an age 70 male. Unfortunately, I went to ANICO and The Principal (both SPIA leaders) and they couldn't touch the number Mr. Turbergen used in his sample case. He was showing a 40% higher return than the better of those two quotes. Something is wrong here - all carriers are working in the same investment pond - I don't believe any single carrier can outperform the market leaders over a period of 25-35 years life expectancy by 40% and survive. This is a pretty definitive bit of misinformation.

I am forced to believe this is therefore a con game. Too bad. The guy is obviously pretty sharp. Just has no character.

A SPIA yielding 11.8% for a 70 year old male? Where? What company? That is a h*ll of a deal.

Was that Javelin Marketing guy Larry Klien there? How about Dean Cipriano or Dan Kennedy?

 

[Financialguy]

I would like to see the webinar, any idea how I can get in on one?
a SPIA will NEVER yield 11.8% for a 70 year old male even if it was the UK style of "life annuity" where you completely forgo the asset for a lifetime income stream and if you die 2 days after signing up, your family gets ZERO, thats right, zero. Even those have never paid 11.8% and don't currently, even at age 85. If the opposite was true and they did have something legitimately paying 11.8% that was secure, I would pay the $12,000 and go to work for them today, no joke.
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These guys have no website, just a site you log into with no information anywhere. I will try to call one of them as several of their offices come up in directories here or there. They will no doubt try just to sell me on going to their seminars and paying the bucks but we will see what happens.

 

[Financialguy]

Hey phillip can you email me at [email protected]? I really would like to ask some questions about your experience. Thanks
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Hey Joe, the information you sent me isn't working, and there is no return listed at all, can you type out some data for me? ie return, commissions, contacts for it etc, thanks.

 

[Thatguy]

wow! Good stuff. I went to their seminar a few weeks ago and I was impressed with the idea. I LOVE the idea, but the practicality is what I'm researching. Called AIG to see what their SPIA is doing, and it's no where close to the 11% they promised, even fully underwritten. They told me they have just been recruiting for this new model for about 3 months and are at 240 agents and only need 60 more. Seems like they have been recruiting for this charity giving for a little longer than 3 months.

They want "about" 50K to become a member but I did not have to pay it all upfront. Said that I would get all the details when I come to MI. I told them I would run it past my attorney to see. My attorney thinks it's a great idea, just don't know all the details of the transaction. Paid the 1K to attend the conference in MI in February; and my attorney said he would like to go with me.

Guess I should expect to spend another 50K at the conference? I've always been a believer in hearing both sides of the story, but I don't know if I want to spend 50K to hear both sides of the story; that's a very expensive story to hear. Usually there are those that speak for and against everything; I can't seem to see anyone that is speaking "for" the company here that has been on here for any length of time. Is this because those agents are all out making millions, or is it because they don't exist? Don't know!

 

[dgoldenz]

$1k to attend a seminar? I'm in the wrong business...

 

[Thatguy]

1K is just for the attendance. Have to spend another 500 or so on airfare and hotel. I don't mind spending the money if it is worth the education. Said that if I came to the seminar and I didn't like what I heard them the 1K (actually it was something like $990 or something) would be refunded to me, no questions asked. So if I didn't like it then I would just be out of the airfare and hotel; which is not a big deal.

 

[arnguy]

Sounds too good to be true.

 

[Freddie]

What kind of commission on that 11.8% SPIA on the 70 year old? Is that AIG? I can sell that all day long.

 

[Phillip Scheiber]

thatguy ..read my post on going to their 'seminars'. then cancel your trip.

 

[over&out]

Regarding the insurable interest on Immediate Legacy, that is laughable. I am a licensee and have been in the insurance biz for over 25 years. You don't understand how it works, since you have not signed a non-disclosure. However, I have found this: charities are freaked out, very cautious and unless you have some solid, affluent clients or other contacts who would do a feasibility study or can get you in the door with any non-profit, large or small, you are in for a tough time. Additionally, I now believe that the patent will NOT be approved, since the Supreme Court is taking up the whole issue of business processes. If the patent gets approved, which I think is unlikely, don't think that this is a lay down deal; it isn't.