IUL with Lifetime Income?

[DHK]

I'm beginning to think that the definitions of ambition and service are lost on many American's today. I blame the Left.

Words like "money" and "profit" have become synonymous with "evil" and "greed".

Let's take a page from Jim Rohn:
- "If any of you wish to be the greatest, there's nothing wrong with wishing to be the greatest - it's called "enlightened self-interest". If you wish to be the greatest, find a way to serve many... for service to many leads to greatness."

- "Contrary to the movie Wall Street. Greed is not good. Greed is evil. Greed hopes for something for nothing. Greed hopes for more than its share. Greed profits at the expense of others."

- "Here's what is good: ambition. Legitimate ambition only profits at the service of others, not at the expense of others."

And there's a book out there that's one of the most widely read books - "Atlas Shrugged", where the BUSINESSMAN is the HERO!

So yeah, I'm in this business to make money... through legitimate ambition and serving others. But to assume that money and profits are evil... may just show the character and beliefs of the person reading it.

What does legitimate ambition leads agents to do?
1) Become more knowledgeable - through workshops, continuing education, designation studies, and to learn from others who are already doing the job they want.
2) Become a student of their industry.
3) Question everything to determine any biases in such statements that may be traditionally considered "absolute truths".
4) Invest back into their business to enhance the ways they serve their clients to increase satisfaction to earn and attract professional introductions to others.
5) Help others in the industry to help them with their legitimate ambitions as well.

So if anyone wants to say that "they aren't in the insurance and financial services business to make money"... I'll show you someone who is probably more critical of others' success, maybe a little jealous of it, or is looking to paint that person as a criminal without just cause.

I couldn't live like that.

John Savage said, "I've spoken in 23 countries, and I have never seen a statue of a critic."

----------

Now, having visited MarkJCobert's site and the quality of work he does - including the testimonial and case of Andrew & Elizabeth Smith... there is a true legitimate need for his services.

I know I would never conduct myself in the ways that that agent did, and agents like this scar the industry and give the public a reason NOT to trust agents. (A note that told the company to not send out statements... and the company followed it? Unreal!)

I just hope that my clients never feel the need to investigate any of my recommendations. I'm very up front about everything and try to "over-disclose" so that people feel very comfortable with me.

----------

Here's his site, if anyone is curious:
Mark J. Colbert Enterprises - Exposes life insurance fraud wherever exists. Expert Fraud Insurance Investigations, Consultant and Expert Witness Testimony

 

[Dwklug]

I work with Accordia through Federal Finical Group.

 

[benefitguy]

National Life is a good company and it really all depends how you structure the product. In California , there are only a few companies that have the living benefits, when I say living benefits I refer to critical illness, chronic illness , terminal illness, These benefits are close to my heart as me being someone 43 diagnosed with MS when I was 38. Most people don't realize the financial impact these diseases can have on ones finances. luckily I had living benefits and was able to pay for treatment my health insurance didn't want to pay for. LSW and national life started the living benefits revolution, I also like to use F&G life due to a index they offer using REITs with no cap. their rating isn't as high as other companies, but that is due to the fact that it owned by a Chinese life company.

 

[maxherr]

In California , there are only a few companies that have the living benefits,

Really? That's not been my experience. I would restate it as, "There are very few companies that do not offer so-called 'living benefits'." It costs the insurance company virtually nothing to include them, and those who don't are at a competitive disadvantage.

 

[pfg1]

maxherr... he's probably referring to "Critical" being included. Most have chronic and terminal, not so many carriers offer critical at all. I don't know about CA either, just speaking in general that most don't have critical.

I wish more carriers had critical, I'm a big believer in it also. Had a client with LSW that had a claim ...and it saved his family financially because if it.

 

[wln417]

In California, Midland has chronic, but not critical. As of Jan. 1, ANICO will have all 3. I think Transamerica has them on their LB term policies, but not their permanent policies. F&G is BBB-. Personally, I won't offer them. And they were BBB long before being bought by the Chinese. As for lifetime income, as far as I know, LSW is the only one to offer that guarantee.

 

[Experienced Agent]

"I'm not in this business "to make money," but I make money because I am in this business." Over the past 21 years, lawsuits I've personally brought against insurance companies who've operated outside what might be considered the consumer's best interest have settled for more than a Billion dollars. 11 agents have have their licenses to sell insurance permanently revoked, one insurance commissioner was forced to retire to Hawaii, a couple of companies demutualized, and more than 30 million policy holders have been made whole. I wasn't in this business to make money; I wanted to make a difference. 40% of all life insurance agents are thieves (I'm being conservative) and have no problem spending the money they swindle from the elderly. The Life Insurance Fraud Investigation business is good. I'm glad to know Max Herr and am very fortunate to have worked with him on numerous cases.

I'm not sure where the "40 percent of all life insurance agents are thieves" statistics come from. Is there a study or is this just personal observation?

Yes there has been much misrepresentation in the insurance/financial services industry over the years. This doesn't differ much from other industries or services. For instance, Mr Colbert is in the professional testimony business. Often referred to as liars for hire. Many cases have expert testimony from both sides, which means one expert testimony (or 50% of the expert testimony) is a lie in the vast majority of these cases, (think O.J.). Not to mention the legal system he contributes to; an even greater abortion of America.

Yes there have been many bad agents, but I want to keep perspective. There are bad apples in every industry. Think about it, stock brokers, home repair, diamond industry, etc.... I can keep going, medical.... Nutritional supplements... Cable providers...

Just want to keep perspective. There's good and bad everywhere. It's ironic however that a person would come to this forum and call us a bunch of thieves.