New zero premium life insurance policy/life settlements

[insurancechick]

No - the appointment fees are required by the state. They are unavoidable. The only way to avoid the fees would be everyone writing deals under Ali's agent number which would be physically impossible and also an insurance violation.

In case no one here recruits - when you get an agent from let's say Florida there's a $60 appointment fee. If you're a FL agent and get contracted directly with a company you'll have to remit $60. If not, then the company has to pay the $60 for you.

This means Ali gets 100,000 agents with the average state appointment fee being around $25. He's collecting $10. That means he's have to remit 1.5 million dollars in upfront fees. Do you believe that? I don't.

The gig is up because Ali never plans on appointing anyone. If he did you've have to remit the fee that relates to your state with the app. If anyone's trying to say you can sell an insurance product without an appointment that's a stone cold lie.

Busted.

Thanks for the clarification John. Are you going to be able to be on the call tomorrow? I'm very interested to hear how (if) they respond to that. It may just be more fuzzy math, but hopefully, they'll have the answer.

Thanks!

 

[Crabcake Johnny]

Anyone here on this board go ahead and call any insurance company you like (unless you're in one of the 4 states that have no fees) and say you want an appointment but don't want to pay the appointment fee. Get back to me on that.

 

[arnguy]

Here's my original post arnguy...I said right up front this had nothing to do with this program....

You still don't get it. MA is a Federal program. It is quite understandable that your DOI did not have information (I guess they don't read the newspapers). This zero premium is a plan that requires approval from each State in which it is sold. Apples to oranges comparison!

 

[arnguy]

OMG.....now it's June. How much longer can this go on? I am getting strung out with anticipation, however, if it doesn't work maybe SalesWolf can sell us a sales Program on how to write 1,000 policies a year.

 

[STIBROKER]

Thanks for the clarification John. Are you going to be able to be on the call tomorrow?

I am sure he will .....just not from the same phone #....which brings me to the point that if you put out a solicitation (to agents or the General Public and don't try to BS me....the public will start seeing all this if not already....) and mention any type of insurance benefit you have to list the company that is offering said benefit....so on todays call when homie told all you guys you can set up a web sight and tell benifit details like death beinie's and someone else paying the prem. now you have an agent breaking DOI advertising laws...this should go for Ali also......lets count the strikes against now....

 

[Crabcake Johnny]

That would be the case. No insurance company on this planet would allow certain details to be marketed without prior adversiting approval. You cannot post things like the DB or structure of the plans without compliance.

If this insurance company actually existed anyone with a current website talking about certain plan benefits would get a cease and desist.

There is no company.

Heck, you can't even slap up a site like this: http://www.zerocostpolicy.com/ with a company you're already licensed with and selling.

If I put up a site like that for Assurant and just rattled off a few of their benefits I'd lose my appointment.

 

[senior-advisor-indiana]

Did anyone ask about ALi's record??? or did anyone find out what happened at his court date?

 

[insurance0707]

You still don't get it. MA is a Federal program. It is quite understandable that your DOI did not have information (I guess they don't read the newspapers). This zero premium is a plan that requires approval from each State in which it is sold. Apples to oranges comparison!

Yes...I realize the difference. The POINT of my post though was that the DOI's don't have all of the information until it's submitted to them. Which is the case with the zero premium program. It hasn't been submitted to them yet.

It's not an apples to apples comparison and I said that right off the bat. "This isn't the same thing........

 

[STIBROKER]

Did anyone ask about ALi's record??? or did anyone find out what happened at his court date?

yea John did......and about his doi investiation that they pawned off as it was because of this....and the moderator confirmed that he was from iran....

 

[arnguy]

O.K. Heather, let's let it go. I feel like I'm on a merry-go-round with you. In a debate they would term the argument reductio ad absurdum!