NEA Scam?

[jcorr]

Scam may be too strong but it has that feel. Has anyone ever seen this before? My wife is a teacher and gets mailings from NEA (National Education Association). Various offers along the lines "since you're valuable member of the NEA we have this exclusive offer..." Yesterday she got an offer for a "Guaranteed Issue Life Insurance protection" with all the usual enticements "no medical tests, no lengthy forms and no doctor visits". All typical and nothing too exciting. Turn the form over and they ask for the basic info, name, DOB, gender, beneficary.... and bank information. Nothing about premium, cost is never mentioned, there's not even a phone number to call. They are literally asking you to sign a blank check. In theory there is no limit how much they could debit you and you just authorized it.
Has anyone ever run into this before? How do they get away with it?

 

[somarco]

How do they get away with it?

Because they can . . .

These kind of offers are directed towards folks who they expect will sign up without question since the promotion comes from a "trusted" source.

 

[JenniferGreen]

Thanks for the info, I didn't know about it before.

 

[WinoBlues]

Person / Mark gets a call from a friendly agent, sounds like from the union, about a free Life Insurance benefit they are eligible for because they are a valued Union member.

Mark - Great, just send it in the mail.
Friendly agent - I would love to however, I need to get your signatures. It will only take a minute or two.

 

[walthamny]

Selling GI policies to healthy people is such a rip off and so profitable for the insurance company. I am usually against regulations but may be we need the agent liable for selling a GI policy when alternatives are available. Everybody on this forum tries to sell with full or limited underwriting first unless you hear something right away that makes you move to GI products. Here they sell GI without any clue to the clients health.

 

[shonceman]

Scam may be too strong but it has that feel. Has anyone ever seen this before? My wife is a teacher and gets mailings from NEA (National Education Association). Various offers along the lines "since you're valuable member of the NEA we have this exclusive offer..." Yesterday she got an offer for a "Guaranteed Issue Life Insurance protection" with all the usual enticements "no medical tests, no lengthy forms and no doctor visits". All typical and nothing too exciting. Turn the form over and they ask for the basic info, name, DOB, gender, beneficary.... and bank information. Nothing about premium, cost is never mentioned, there's not even a phone number to call. They are literally asking you to sign a blank check. In theory there is no limit how much they could debit you and you just authorized it.
Has anyone ever run into this before? How do they get away with it?

There’s no grid chart showing age banded rates anywhere in the literature they sent?