- 4,125
I wish FE carriers (americo does this) would do variable billing besides Wednesdays. Say every other friday to line up with those FE buyers that still work.
Interview With Alan Town - $22,752,532 In 2017 Final Expense Production
- Thread starter Rearden
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- 26,145
It has always be that way here.
I remember when RNA was the darling $5 + more was OK because they might build a play ground in your community someday or someone once got $200 during a freak storm. The member of benefits made the extra premium worth it. Flavor of the month.
We all justify.
- 4,125
Sometimes doing the right thing really is hard
The Columbian policy was the standard FE policy. I didn't mention that I went back and got the policy reinstated with Aetna.
I didn't even mention the fact the guy could not sign his name. On my policy he put an X. The policy that replaced mine had a very nicely signed legible application. This was probably 6 or 7 years ago. It was back in the day when Aetna had a good policy.
I didn't even mention the fact the guy could not sign his name. On my policy he put an X. The policy that replaced mine had a very nicely signed legible application. This was probably 6 or 7 years ago. It was back in the day when Aetna had a good policy.
The adult education department in Michigan works miracles!
There is no excuse for that... But just because there are bad agents (or agencies) does not mean everyone with the company is corrupt.
It wasn't just a crooked agent. His regional manager knew exactly what was going on and condoned it. Columbian has watched their agents steal thousands of dollars from their clients and chooses to turn a blind eye to the truth. Instead of terminating their contracts, they continue to let them write new business.
Over the past 9 or ten years I bet I have ran into more than 50 MoD policies. They all seem to be cut from the same cloth. Predominately black, highly uneducated people living in squalor. Columbian had to lnow exactly what they were getting into when they chose to take over MoD life insurance policies along with the corrupt agents who wrote them.
I think its called guilty by association.
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Over the past 9 or ten years I bet I have ran into more than 50 MoD policies. They all seem to be cut from the same cloth. Predominately black, highly uneducated people living in squalor. Columbian had to lnow exactly what they were getting into when they chose to take over MoD life insurance policies along with the corrupt agents who wrote them.
I think its called guilty by association.
.
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- 7,012
Same with Bankers Life around here. In some companies, the problems are systemic.
When we talk about replacements, we always lead off with "Make sure it's in the best interest of the client."
When we talk about replacements, we always lead off with "Make sure it's in the best interest of the client."
- 5,973
So what is your criticism? Presumably these policies paid out death benefits and helped the community that was being served, no? Isn't some insurance better than no insurance? Unless you can show that death benefits were systematically not paid out on these policies, I do not see the problem. If anything, companies like Mutual of Detroit served a community that otherwise was being ignored by the more "blue chip" type carriers.
'Predominately black, highly uneducated people living in squalor.'
So what is your criticism? Presumably these policies paid out death benefits and helped the community that was being served, no? Isn't some insurance better than no insurance? Unless you can show that death benefits were systematically not paid out on these policies, I do not see the problem. If anything, companies like Mutual of Detroit served a community that otherwise was being ignored by the more "blue chip" type carriers.
DayTimer, 34 minutes ago Report Bookmark
#118
Serviced might be a better word. Why do you think they got shut down? It wasn't for good behavior. Cash values were missing left and right. I will give you just one example of what I saw with my own eyes, on a routines basis.
I ran a TM lead and when I got to her house she stated she already had a life insurance policy. When she said that I kind of figured it was a mutual MoD policy. I asked her how long she had had it, to which she replied 14 years. That number surprised me so I asked her how she could be so sure and accurate. She replied she bought the policy when her son was 6 months old and he is now 14 and a half. To me, That served as ample proof she knew what she was talking about.
According to her cash value chart she should have had around $4,400. When we called in her actual cash value was less than $600. This lady was organized. She had every single receipt in order going back to day one. Of course they were hand written receipts.
According to MoD's records she was rarely paying full payments. According to the receipts from the agent, she had never missed or made a partial payment. The agent was stealing the money. That type of policy is a license to steal, which is exactly what was going on.
So what is your criticism? Presumably these policies paid out death benefits and helped the community that was being served, no? Isn't some insurance better than no insurance? Unless you can show that death benefits were systematically not paid out on these policies, I do not see the problem. If anything, companies like Mutual of Detroit served a community that otherwise was being ignored by the more "blue chip" type carriers.
DayTimer, 34 minutes ago Report Bookmark
#118
Serviced might be a better word. Why do you think they got shut down? It wasn't for good behavior. Cash values were missing left and right. I will give you just one example of what I saw with my own eyes, on a routines basis.
I ran a TM lead and when I got to her house she stated she already had a life insurance policy. When she said that I kind of figured it was a mutual MoD policy. I asked her how long she had had it, to which she replied 14 years. That number surprised me so I asked her how she could be so sure and accurate. She replied she bought the policy when her son was 6 months old and he is now 14 and a half. To me, That served as ample proof she knew what she was talking about.
According to her cash value chart she should have had around $4,400. When we called in her actual cash value was less than $600. This lady was organized. She had every single receipt in order going back to day one. Of course they were hand written receipts.
According to MoD's records she was rarely paying full payments. According to the receipts from the agent, she had never missed or made a partial payment. The agent was stealing the money. That type of policy is a license to steal, which is exactly what was going on.
- 5,973
That is criminal behavior by an agent. I would wonder if suranceman or homeservice feels that these monthly debit policies are a license to steal. I am sure that it happens. I guess I am not ready to discredit an entire company because it happens with some of that company's agents. But that is terrible to hear stories like that.
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