New Family Funeral Plans
- Thread starter rousemark
- Start date
- 5,897
Cash value? Most likely not.
This sounds like a real train wreck for those who don't expect to use the plan for the next 50 years.
This sounds like a real train wreck for those who don't expect to use the plan for the next 50 years.
- 4,289
A client got something from them in the mail, and asked me to look into it for her. Is there a website where you can get more info on it concerning what exactly is covered, limits, exclusions, etc.?
- 4,289
Never mind, I found some stuff. Here’s the website:
Plans | Assure For Life - Protección Plenitud
Here’s a fairly thorough recruiting presentation. Nuts and bolts are about 10 minutes or so into it.:
Positives:
1) They seem to be covering a simple funeral for up to seven people up to age 65 for a pretty low price (different plan for ages 66-75 - only one or two people on a plan.)
2) Very few health restrictions. Really almost GI.
3) Short waiting period of only 6 months for full coverage.
4) Apparently long history within Mexico and other Latin American nations.
5) Good marks on BBB.
Negatives:
1) No life insurance or preneed funeral services contract involved, so not regulated.
2) Unlicensed agents. Who knows what they’re telling people?!
3) What’s actually covered isn’t completely clear. (I’d love to take a look at their so called “funeral contract”!)
4) Because of the above, and their apparent skirting of insurance and funeral service regulations (while using similar language), it wouldn’t surprise me if some states move to shut them down. For now they’re flying under the radar, but they might be the next big thing for the “Network Marketing” crowd. If that happens, insurance commissioners will certainly take notice, as will funeral service regulators.
5) I could be wrong, but nothing about the product, whether price, benefits, or even future existence of the product, appears to be guaranteed.
6) Not an American company. I know, there are lots of insurance companies operating in the US with foreign ownership, including Mexico. But they all fall under the regulatory jurisdiction of the state of domicile. Since this isn’t insurance, what kind of accountability will they have within our borders? If a client has an issue with them, what country’s laws apply, etc.?
7) I don’t care what they say, the comp structure looks like MLM to me! You can make decent comp with a downline. But if you’re only planning to personally produce, the comp is only 35%.
That’s just initial surface impressions. There’s probably more to see here, both positive and negative. I don’t really have time for a recruiting zoom call, so this is what I came up with from searching the web. Unfortunately the available details on the product itself seem to be kind of limited. If anybody knows anymore, please share!
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Yes, this is the exact company I referenced in previous post. Supposedly, the funeral homes have to be current dues paying members of NAFD for the deceased's funeral to be covered. I called the NAFD and they said they have nothing whatsoever to do with this company, have received numerous calls about them, and had no comment on its validity.
My next instinct was to reach out to NAFD member funeral homes in my area and inquire as to whether they have had funerals paid for by this company. Other tasks have taken priority and this has become unimportant.
As shonceman mentioned, in order for the comp schedule to work, only a ponzi scheme or MLM can keep it going.
My next instinct was to reach out to NAFD member funeral homes in my area and inquire as to whether they have had funerals paid for by this company. Other tasks have taken priority and this has become unimportant.
As shonceman mentioned, in order for the comp schedule to work, only a ponzi scheme or MLM can keep it going.
- 6,020
Nothing but White peeps in the pics.
Where are the Blacks and Latino's?
Where are the Blacks and Latino's?
- 17,053
Ha! Their cremation plan probably includes 1 gallon of gas and a cricket lighter.
The funeral is probably a mexican-made casket and you just do your own funeral at your church.
Hey I have some solar powered clothes dryers I need to sell you guys. Only $500 apiece and guaranteed to work for the next 10 years! No joke!
The funeral is probably a mexican-made casket and you just do your own funeral at your church.
Hey I have some solar powered clothes dryers I need to sell you guys. Only $500 apiece and guaranteed to work for the next 10 years! No joke!
- 5,897
Get our your crayons and all will be well.
Not to mention how terrible it is for your allergies. The dust is a killer.
