New zero premium life insurance policy/life settlements

Adding to Midwest's questionaire, I would also ask:

1. How do I have to die to receive this?

2. How many beneficiaries can be named?

3. Does my beneificary/ies recieve the full death benefit or a % and the insurance company and/or other entity/ies receive the other %s?

4. How is it possible there are no chargebacks?

5. Age issuance?

6. Is there a graded benefit plan too? If so, what is entailed to receive and how does it work keeping the same questions above in mind to apply?

7. Confirm it's a simplified issue.

8. I won't assume, but be sure to ask: Whole life final?

9. And last but not least, what other benefits come with this besides the primary of 'free?'

More to come if I think of some based on what I can dig.
 
Here's the information I got emailed to me:

The zero premium life insurance is a universal life product available for ages 65 to 85. The premiums will be paid to the insurance carrier by a private institution. The carrier will insure the insured for $50,000. When the insured passes away, the beneficiary will receive $15,000 and the private institution will receive the remaining $35,000. The insured is getting a $15,000 life insurance policy at no cost to them.


Agent commission is $250 per application submitted and verified. Manager overrides are also available on this product. Commissions will be paid out about 2 weeks after application is submitted and verified.
 
I see a lot of talk about this type of policy from CraigsList (Google).

As I said...sniff sniff...woof woof...This is a dog with fleas...as Gordon Gekko once said.

C'mon...You remember him, don't you???

"Ever wonder why fund managers can't beat the S&P 500? 'Cause they're sheep, and sheep get slaughtered."

"The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and *** sons and what I do, stock and real estate speculation. It's BS. You got ninety percent of the American public out there with little or no net worth. I create nothing. I own."
 
Doesn't sound like much of a deal for anyone except the "investors".

Still gotta wonder about all the shucking & jiving to get the plan put together.
 
if you would like to know... and i am pretty sure you do -- if you are recruiting agents in order to get an override from an insurance company then you have to be licensed in their state... well lets ask a question here

Not all states. Actually in most states, you do not have to be appointed there to earn an override off of an agent selling in that state. There are only a handful of states that this rule exists.
 
Think it's easy giving something away?

Next time you're at Starbucks waiting in line, try handing the stranger behind you a dollar and say, "Hi I'm giving away free dollars to complete strangers. Here's yours."

They'll very awkwardly tell you, "No thank you."
 
Next time you're at Starbucks waiting in line, try handing the stranger behind you a dollar and say, "Hi I'm giving away free dollars to complete strangers. Here's yours."

dahmmm.....so now I am paying for the car's coffee behind me and giving away dollars.....
 
Back
Top