New zero premium life insurance policy/life settlements

Discussion in 'Life Settlements Forum' started by maryjd123, Apr 13, 2007.

  1. Guest
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    Sounds like an MLM (network marekting) deal to me. When I hear 'ground floor' I usually run for higher ground!

    So the financial institution is publically traded? I sort of doubt that, but we'll find out. And I would think this would have to have various state approvals, filings, etc. I don't think I've ever heard of an insurance product kept 'secret' before.

    How could you possibliy know that, given what you've posted earlier?

    I voted for Nixon ("I'am not a crook") and Bush "Read my lips, no new taxes" so please don't tell me about "their word."


    Sounds like you are looking to form a down-line? Mary, if this IS some kind of MLM, pyramid thing, and you didn't say so right here and now, your reputation, which is pretty strong (here and now) is going to be crap. So if you have something to say, I suggest it is better to say it now instead of beating the drums and trying to use suspense to caputre our attention.

    And why you... and not me... or anyone else on this board? Perhaps because you are in someone's MLM downline?

    What exactly prohibits you from posting it right now? Did you sign an NDA?

    That is standard MLM hype. Done all the time. When was the last time you got a call from a reputable insurance company saying "Pssst, Mary! We have a secret deal that we only want to let you in on at first, and then bring on others later. Here's the deal... but don't tell anyone." Would you hear that from a Pyaramid, or a West Coast Life, or a Met, or any Cross/Shield?


    MA was backed by the full faith and credit of the Federal government. They were under discussion for years, everyone knew they were coming, there was no surprise.... little hype... and little interest (at first.)

    A what care plan?

    Lots of people who might not want someone else to profit off of their death as is done in (e.)COLI plans.


    And you know this how?


    Hmmm. So you've seen the actual policy and the details? But you can't tell us who or where they are from? Does anyone smell day-old fish here?

    So are you saying (without really saying) that this is from National Agents Aliance? And their reputation is what?


    I have this feeling that the operative word here is not 'explain' but 'hide.'


    And what does the insurance company/finance company/investors, etc. get out of it? Who funds it? You've obviously seen the details. So tell us what they are.


    What questions are those?

    Compared to what? NASE?

    Mary, please. Stand up and give us full-disclosure or stop with the MLM-like teasers. OK?

    Al
     
  2. johnrocks
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    johnrocks Well-Known Member

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    I think we can all agree, some entity has to be paying for this type plan. I have to be honest here I have not been in the biz that many years but I have never heard of this type plan before even though I have been aware of corporate funded plans;again someone is paying.

    Unlike the no cost MA plans which is funded by CMA, these plans certainly won't be funded by the Fed. Govt. unless I missed something in the Congressional Quarterly.

    I am going to be:skeptical:but since I have always valued and trusted Mary's judgement I am going to check it out. Can't hurt to keep an open mind, just don't sign up a hundred people before you do your homework!
     
  3. policy doctor
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    policy doctor Well-Known Member

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    Well it looks like word is spreading as one of my friends' FMO sent her this yesterday.

    * * * * * ****

    Date: Thu, 12 Apr 2007 22:37:24 +0000

    INCREDIBLE NEW PRODUCT

    $15,000 Life Insurance For $ 0 PREMIUM.

    The premiums are paid by an investment company. This new concept is an
    opportunity of a lifetime. The name of the carrier and investment company
    will be announced in the next few days.

    -
    $250 First Year Commission
    - 100% Advanced
    -
    No Chargebacks
    - Issue Ages 65 to 85

    - STATES THAT THIS PRODUCT IS APPROVED TO MARKET PRESENTLY ARE:
    TX, NC, SC, GA, AND CA. OTHER STATES ARE BEING APPROVED AS WE SPEAK.

    IN ORDER TO START SELLING AS SOON AS POSSIBLE, REPLY TO THIS E-MAIL WITH CONTACT INFORMATION, NAME, PHONE NUMBER AND ADDRESS TO
    INITIATE YOUR CONTRACTING.

     
  4. johnrocks
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    johnrocks Well-Known Member

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    so basically an investment firm pays the premium and then when you die your heirs supposely get 15k and the investment firm gets a like amount? Don't you have to have an insurable interest in someone;such as hubby insuring wife or son insuring momma? Am I being too simple, am I missing something?
     
  5. somarco
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    somarco Well-Known Member

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  6. STIBROKER
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    STIBROKER Super Moderator Moderator

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    MJ.......come on.......don't make me pull a NAA on you.......walk away....there are no free rides in insurance......
    Protective Life Texas
     
    Last edited: Mar 1, 2011
  7. somarco
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    somarco Well-Known Member

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    The investors have the insurable interest and can be named the beneficiary in much the same way as you name a bank as beneficiary for a loan. That is usually handled via collateral assignment up to the outstanding loan balance. I have never seen a situation where the bank was entitled to a profit over and above the loan balance at time of death.
     
  8. somarco
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    somarco Well-Known Member

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    Fess up Scott. You placed that ad in the TX Craigslist, didn't you?
     
  9. johnrocks
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    johnrocks Well-Known Member

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    Aren't life settlements also called vatical policies? It works when a person has a WL policy with cash value. For example a person aged 75 with some health issues with a life expectancey of 5 years has a million dollar policy that has $450000 cash value and the vatical or life settlement co. will purchase it for $500000 so when he died they get a million dollars or a $500000 profit less the premiums. Is that how it works?
     
  10. sman
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    sman Well-Known Member

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    Uh, two slight corrections. First, I'm sure you meant CMS. And second, MA's are actually funded by taxpayers as is anything considered funded by the government.
     
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