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Old 04-14-2007, 06:16 PM   #21
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New zero premium life insurance policy/life settlements
Originally Posted by maryjd123 View Post
being on the groundfloor of this opportunity is what it is all about
Sounds like an MLM (network marekting) deal to me. When I hear 'ground floor' I usually run for higher ground!

noone in the management knows what insurance company it is, nor the financial institution that is backing it -- if we knew beforehand then it would be insider trading
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.

This is completely legal
How could you possibliy know that, given what you've posted earlier?

i have worked with these people for several years and do not doubt their word at all.
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."


all i am saying is if you want in --- let me know
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.

-- because i have worked with these people in the past - i was called and emailed with this opportunity
And why you... and not me... or anyone else on this board? Perhaps because you are in someone's MLM downline?

i will be able to post the website where you can get more information hopefully by tomorrow or monday morning
What exactly prohibits you from posting it right now? Did you sign an NDA?

and on the talk about millionaires -- thats what was emailed to me...
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?


but think about it...
when ma's came out -- no cost to the enrollee --
same concept different situation
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.)

depending on their age -- they have the continental care plan
A what care plan?

at 24 dollars a month and it comes packaged with a 15k life policy -- who would turn that down???????????
Lots of people who might not want someone else to profit off of their death as is done in (e.)COLI plans.


i know its not available in wyoming but -- by the end of the year it will be in all 50 states -
And you know this how?


- if it were in wyoming --- i would be on the phone from 8 am till 8 pm calling all of my clients and telling them about it.
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?

think of how many people this will help -- and if you are a new agent selling life insurance -- or wants to start out in NAA
So are you saying (without really saying) that this is from National Agents Aliance? And their reputation is what?


yes just like an ma there will be things to explain
I have this feeling that the operative word here is not 'explain' but 'hide.'


but --- 15k goes to whoever as the beneficiary they want
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.


as long as they can answer the 5 health questions...
What questions are those?

its good
Compared to what? NASE?

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

Al
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Old 04-14-2007, 06:19 PM   #22
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johnrocks on New zero premium life insurance policy/life settlements
 
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New zero premium life insurance policy/life settlements
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 bebut 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!
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Old 04-14-2007, 06:36 PM   #23
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policy doctor on New zero premium life insurance policy/life settlements
 
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New zero premium life insurance policy/life settlements RE:
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.


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Old 04-14-2007, 06:53 PM   #24
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johnrocks on New zero premium life insurance policy/life settlements
 
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New zero premium life insurance policy/life settlements
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?
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Old 04-14-2007, 06:55 PM   #26
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STIBROKER on New zero premium life insurance policy/life settlements
 
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New zero premium life insurance policy/life settlements
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 by STIBROKER; 03-01-2011 at 07:19 PM.
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Old 04-14-2007, 06:57 PM   #27
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somarco on New zero premium life insurance policy/life settlements
 
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New zero premium life insurance policy/life settlements
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.

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Old 04-14-2007, 06:58 PM   #28
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somarco on New zero premium life insurance policy/life settlements
 
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New zero premium life insurance policy/life settlements
Fess up Scott. You placed that ad in the TX Craigslist, didn't you?
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Old 04-14-2007, 07:01 PM   #29
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johnrocks on New zero premium life insurance policy/life settlements
 
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New zero premium life insurance policy/life settlements
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?
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Old 04-14-2007, 07:20 PM   #30
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New zero premium life insurance policy/life settlements
Originally Posted by johnrocks View Post
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.
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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