Question on American Income life

[Life Hawk]

I used to work at American Income life. Wrote a lot of business there before I saw what was happening. That’s all I ever knew. The culture there keeps people looking inward instead of out so you pretty much bleed AIL blue if you’re there more than a month or two. Super expensive, not vested 100% day 1, super low commissions, force policy holders to meet with hard closing sales agents every 6 months or a year to “update” their policy. If you are there for 9 months you can definitely close though that’s for sure.

Easily replaced product when found in its natural habitat.

 

[WinoBlues]

It appears to have been whole life since she received surrender monies. But yes, they have to get all the facts before deciding how to proceed.

There were 'to 80' and to xx' policies out there. They matured under old mortality schedules. I have not seen one in a very long time.

 

[WinoBlues]

How do these kinda agents sleep at night ?

They do not give a shit.

They also justify it in their own mind.

 

[noah]

You are going to have to contact Motorists together and see what happened and what can be done now. As far as the new sale, if it was by phone then surely it's recorded.

Correct. WL. Sold on Zoom call.Effective date of new coverage 02/28/23

 

[Todd King]

Correct. WL. Sold on Zoom call.Effective date of new coverage 02/28/23

Normally, companies would reinstate the policy if it were within 30 days of the surrender. Some companies will go out even further, but you have to find out exactly what Motorists/Encova will accept.

 

[noah]

Turns out the husband also had a 13k Motorists WL issued 2005. The AIL agent scared told him it would cancel in 5 years. Convinced him to get the surrender,replaced it with a 5k level WL without “checking the box the app yes they are replacing”.
He received more than 5k on the surrender. His health is good and goes level anywhere you want to write him.
M,75,NT,level 5k $91 AIL. Very expensive!

5k LBL $53.82

 

[goillini52]

Turns out the husband also had a 13k Motorists WL issued 2005. The AIL scared told him it would cancel in 5 years. Convinced him to get the surrender,replaced it with a 5k level WL without “checking the box the app yes they are replacing”.
He received more than 5k on the surrender. His health is good and goes level anywhere you want to write him.
M,75,NT,level 5k $91 AIL. Very expensive!

5k LBL $53.82

What a dirtbag. I think they train their agents to lie. I just replaced an AIL. The agent priced him a $5K and the client told him he wanted a lower premium, so the agent wrote him a $4K and told him it was a $5K.

 

[jdeasy]

What a dirtbag. I think they train their agents to lie. I just replaced an AIL. The agent priced him a $5K and the client told him he wanted a lower premium, so the agent wrote him a $4K and told him it was a $5K.

I replaced a couple of AIL’s a month or so ago.

Wife said she had $10K. Husband said he had $5K. Policies just a few months old.

Both 78 years old. Paying $215/mo total.

I wrote them both $10K. $190/mo total.

We called AIL and stopped drafts.

Then the lady found their policies. Wife’s was $7K. Husband had $3K.

Both were 2 year ROP. They had no idea they were not level coverage.

 

[noah]

I replaced a couple of AIL’s a month or so ago.

Wife said she had $10K. Husband said he had $5K. Policies just a few months old.

Both 78 years old. Paying $215/mo total.

I wrote them both $10K. $190/mo total.

We called AIL and stopped drafts.

Then the lady found their policies. Wife’s was $7K. Husband had $3K.

Both were 2 year ROP. They had no idea they were not level coverage.

Don says he’s not fighting anyone else’s battles.

Would you get their signatures on a DOI complaint form and help them report this dirtbag?

 

[goillini52]

I replaced a couple of AIL’s a month or so ago.

Wife said she had $10K. Husband said he had $5K. Policies just a few months old.

Both 78 years old. Paying $215/mo total.

I wrote them both $10K. $190/mo total.

We called AIL and stopped drafts.

Then the lady found their policies. Wife’s was $7K. Husband had $3K.

Both were 2 year ROP. They had no idea they were not level coverage.

Yep, this guy said he had a 3 year ROP, which the agent didn't happen to mention.

Even after 5 years his Lifeshield price per thousand is less than AIL