Worst FE Carriers ? (your opinion)
- Thread starter Mike Siegal
- Start date
- 5,976
But at $9.95 per unit, shouldn't that have been 11k in coverage?
Nope ... 9.95/unit is the price, but the amount of coverage in a "unit" varies according to age. For example, for a $50 year old a unit might be $1300, but for an 80 year old it is probably closer to $500.
I had a 79 year lady a few weeks ago just took out a little over $10,000 with CP a few weeks before I door knocked her. She was paying about $160 because she needed 16 units, and at her age a unit was $652. I got her the same amount for $60 or $79 less.
- 17,077
Colonial Penn created the single greatest marketing gimmick that ever hit the insurance industry. It worked so well that they were once the most profitable insurance company in the United States. But they abused it so the government split them apart from their marketing gimmick and does not allow them to be associated any more.
They called it the American Association of Retired Persons.
They called it the American Association of Retired Persons.
- 5,976
- 17,077
You must be too young to remember. It was a big two parter on 60-Minutes back when 60 Minutes was a great show and their ambush reporting of corrupt companies.
Andy Rooney wrote about his investigation into AARP and colonial Penn in several of his books. And the federal government stepped in and split them apart right after it exploded on the 60 minutes program back in the 1980s.
Andy Rooney wrote about his investigation into AARP and colonial Penn in several of his books. And the federal government stepped in and split them apart right after it exploded on the 60 minutes program back in the 1980s.
- Thread starter
- #26
- 547
Now 'United Health' gets all those leads...i wonder how that partnership works?
- 4,306
I'm not too young to remember, but I don't remember. That's pretty interesting. I guess I didn't see it on 60 Minutes. Must have been before my news junkie phase.
- 4,306
That was meant to be a joke. I guess I was a little too subtle!
That per unit pricing thing they do is the main thing that qualifies them to be on the "bad company" list, IMO. All the rest is just marketing, but the unit pricing is meant to mislead people just enough to get them to call. They probably don't think they're being deceptive, because they explain it once the prospect is on the phone. But a children's record my kids used to listen to said, "Stretchin' the truth is tellin' a lie..." So my question is, "Ms Jones, do you really want to do business with somebody that starts the relationship with a lie?"
- 5,976
- 5,309
I am hoping TA comes out with an e-app that gives an instant decision on time in 2020.
That would turn my frown up-side down =).
That would turn my frown up-side down =).
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