Heck, it's bad enough that my wife gets a mill if I die. Talk about incentive to be a good husband! That's all we need is "investors" to profit when someone older dies:
Live at news 11:
Tradegedy today as an elderly man apparantly slipped and fell off a cliff to his death. An investigation is ongoing as to why at 78 year old man was hiking so close to the edge of a 5,000 foot drop. His wife said "I have no idea. He went out to walk the dog and the next thing I know they're telling me they found him at the bottom of a cliff 25 miles from here. My husband doesn't hike."
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Sti from what I read on this board, the insured's family gets 15k out of the deal.
I was going to say....if the family gets a cut.....and does not knock them out on getting another policy with full benefits....might not be a bad deal....but I do suspect that the DOI's will be all in this....I remember when you could dump unlimited funds into WL and UL's before the mec........
Why shouldn't agents know how hard they're getting stroked? It's certainly relavent. My agents are at 20% and I'm at 25%. I wonder how they'd feel if they found out I was at 50%?
We will most certainly be publishing what's in the deal and we'll also be finding out which entities are giving the most in commissions and bonuses.
I'm not signing up with any product unless I know how much the override is. I'm fine at 100% for life if my broker is at 120%. I'm not fine if I'm getting 60% and he's at 120%.
This is like when Google went public ... some people got in and some didn't. I foresee a lot of people here kicking themselves here.
Google. Yes. But don't forget about Pets.com, Kozmo.com, Boo.com. MVP.com, Go.com, Govworks.com AND THE THOUSANDS of IPOS that people lost MILLIONS of dollars on.
This is like when Google went public ... some people got in and some didn't. I foresee a lot of people here kicking themselves here.
When Google went public everyone could look over the entire finacial filing and do some research.
We have no information yet - don't know the product details or the investors. Let's see all the details first.
Who would have jumped into to Google with this:
"We'd like people to buy our stock. We really don't have anything set up yet - that's coming shortly. We like to disclose our financials but haven't gotten around to it yet. But please purchase stock through our Yahoo or Hotmail email address and we'll get back to you."
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Lol. I answered a few Craiglist posts and had two people call me back. I swear to God it's like talking to the CIA: "Sir, we can't give you any information or we'd have to kill you." I'm not kidding. One told me he cannot disclose the insurance company. What? Can't disclose the company?
After talking to both people the entire tone of the conversation was like something very dirty and covert was going on. I think I need shower to wash this weird feeling off me.
The first guy who called was extremely stand-offish. He was very curt: "just what kind of information do you want!!!"
Two different people (non insurance people) I have talked to about this suggested that this may only be a front for some other activity.
One asked if the investors were in this country, if they aren't that this could be a money laundering scam.
At this point with all the "I'm gonna have to shoot you" crap that is going on I guess this could be as valid as anything else we are hearing right now.
Just thought I'd add something else to the mix that I heard.
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This product is reportedly approved in certain states. I don't know the entire process but they had to submit something for approval.
Does anyone have the ability to investigate from that angle?
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Keith Kessler
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