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 Posted: Sat Feb 28, 2009 10:12 pm Post subject: |
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I be;ieve that if you can set up a fund with a company like IDA then any person with half a brain can go down to their local bank and set up a fund there...its called a savings account. If you have the means to invest in a fund then you have the means to set aside your own deductible.
One should never agree to a deductuble they will not be able to pay if something would happen. If you do so that you can save on car insurance then putting aside the difference is a saving account just makes way more sense to me and it seems it would eb a whole lot less of a hassle.
Lori, I know what you mean about income tax. See it around here all the time. People will go blow it and then when disaster hits they split up and go knocking on relatives doors for help. If this was the case and it was my door being knocked on I would ask them to sell off one of their purchases or let me hold it for collateral. |
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fireyone
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| Posted: Sun Mar 01, 2009 5:44 am Post subject: |
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| If anyone has ever experienced before, when a troubles start, they prfer to attck us in bunch!! You have no credit card co. giving you maney on time as you have already used elsewhere for development, your colleagues would alrady be in the trouble as you are in these days and so on. But it is a fact that a car would never be left broken if you are industrious. And in case of savings, it seems painful for everyone. I try a thing when I get payments from somewhere I just give a handful of money without any count to my mother( she is a good at savings). Then I beg at her only when there is no otion left! How's an idea? |
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VIJAYRAJ
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| Posted: Sun Mar 01, 2009 7:22 am Post subject: |
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Here is a mind blowing fact.... If everyone in the USA that has a Collision Deductible of $500 or less raised their deductible to $1000 it would produce around $60,000,000,000 a year in savings! Yes 60 Billion dollars in savings, that is what I call a Stimulus package. 
| Quote: | | I be;ieve that if you can set up a fund with a company like IDA then any person with half a brain can go down to their local bank and set up a fund there...its called a savings account. If you have the means to invest in a fund then you have the means to set aside your own deductible. |
Fireyone, I agree that anyone can set aside money each month for a rainy day in a savings account. The problem with 95% of Americans in our day and age is that they do not know how to save money! Thus the current economic problems our country is in. Take a look at past generations and they would save on average 5% - 20% of their income every year. In today's society of instant gratification and overly accessible credit people no longer know how to save. In fact since 2006, the census reports that the USA has Negative Savings as a whole! A Large portion of people in the USA are only one paycheck away from bankruptcy.
| Quote: | | If you have the means to invest in a fund then you have the means to set aside your own deductible. |
That is true but, but you are looking at a small minority of the populous, and what of the people that want to set aside money each month but don't have the financial resources? How would they fund a side account?
What IDA offers is a structured savings program that redirects money they already spend on insurance to fund their own reserve account. That money comes from savings realized from raising their collision deductible. Plus the person will never have to come out of pocket with a lump sum of money to pay for their deductible and the program is funded with their savings!
The CDRP is not for everyone, and I tell that to everyone but it can help a lot of people start a method of saving money that they would not have otherwise done. Just take me for example I have had deductibles of $250-$500 for the last 16 years and would not raise them for the fear of having to come up with $1000 out of pocket, with the CDRP the fear is eliminated because the full $1000 is available when and if I need it. Also since the inception of IDA's Collision Deductible Reserve Plan over 98% of the customers that have a CDRP have kept it. Tell me an insurance company or any other product that has that high of a retention rate. The CDRP offers real value and helps people save real money. Plus you can set up a $1000 reserve account for as little as $650.
If anything I hope that people start looking at new ways to free up money each month to save. For a long time the world has been of the mentality of "Oh it's only a dollar" now we are starting to see what Bejamin Franklin said "A Penny Saved Is a Penny Earned" That is true no matter how you save it.
Have a great one and lets try to get America back on financial track.
Ryan |
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greeryan
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| Posted: Sun Mar 01, 2009 1:19 pm Post subject: |
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I think , Insurance is nothing but a Sinking fund.Like this You also need to have A saving account. You need to save some money by cutting down some of you unwanted expenditure. This would be used only in the case of non-anticipated or unforeseen situations.Everybody should learn the act of economizing.
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| Posted: Sun Mar 01, 2009 2:05 pm Post subject: |
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| Quote: | | but I did not post any links. |
Ryan you are correct you did not...and certainly feel free to add your site to your signature...your OP (original post) however is verbatim your home page... HowWouldYouPay.com
I still have no problem with that, or even OPENLY discussing your product...the problem I DO have are the 'follow ups' by someone (anna) who just 'happened' to hear about this and follow you to the board!  come on dude, I'm old but not totally stupid...I haven't requested the URL's be run to see if the same computer generated both, because frankly at this point I don't care...if this thread was not a 'set up/fishing thread' it damn sure looks like one, and I'd think you'd even have to agree with that! | Quote: | | Lori I'm not sure which site you looked at for your information but this is how the Collision Deductible Reserve Plan works in a nutshell. |
I looked at yours as well as about three or four sites from IDA on this product, including the one that boasts this.. | Quote: | | I HELP OTHERS SAVE MONEY + I HELP OTHERS MAKE MONEY = I GET FILTHY RICH |
about this product.. | Quote: | | I am a Marketing Director for IDA Marketing Services as Lori implies, |
so you are now at the level three of honestly what appears to be some shirt tail cousin of a pyramid. | Quote: | | I don't know why you would have an objection to people saving money that they already spend on insurance and set up their own reserve account to pay for their deductible. Any financial adviser will tell you that raising your deductibles will save you money that you can use for better things. |
I don't have any objections to people raising their deductibles to save premium dollars, and have posted so probably more than 100 times...I'm totally on board with that...
| Quote: | | First off.. The Collision Deductible Reserve Plan or CDRP has been in the open market for over 5 1/2 years |
well that's opposed to your head honcho's website that says it went live sept 2008.. | Quote: | | IDA built a bulletproof infrastructure until 2008 when they launched publicly on September 8th. . |
| Quote: | | and has been approved by the insurance and securities regulators and all legal authorities in all 50 states. |
I didn't say the product was illegal, but some of the information on the site is incorrect...ie..from my prior post..the site states | Quote: | | For example, if you have a $1,000 collision insurance deductible, and you are involved in a collision that requires $5,000 worth of repairs to your vehicle, you would be required to pay $1,000 (your collision insurance deductible) before the insurance company will pay the remaining $4,000 to the repair shop. |
and i said
| Quote: | | Can't even tell you how wrong and illegal that statement is in ALL states....no carrier can make an insured pay the deductible upfront...(might want to check the fair claims practice laws of each state)...the company will issue the 4k payment period... |
additional incorrect information from the site | Quote: | | collision insurance pays for the repairs to the vehicle after the consumer pays their collision insurance deductible |
You did not address these issues or what about comp? the insured can only raise their collision deductible not their comp deductible...this is drastically reducing the amount of savings the insured can obtain..why does your product not cover the comp AND collision deductibles? Depending on the areas, I can tell you in my area that comp claims are minimally 50% of what I handle...so what gives with that?
Ok, now I'm really ticked after doing a little more digging, (I KNEW my gut was right!  ) and mostly irritated at how 'not' smart you guys are being..''ANNA'' has her blog in her profile on this site... you are STILL maintaining you have nothing to do with this company? oh my gosh! 'anna' is really ryan's wife 'caranna'...ok i'm done....sending request for you both to be banned from this site....you know it's truly a shame...there is no harm or foul in openly discussing your product, we do have an 'agents' forum...and getting feedback, even help in generating business and leads...but to slim your way in with spam, is well just slimmy...i realize you are both young, but seriously mom and dad surely taught you both all that honesty is the best policy... well maybe not.... | Quote: | | Again I was not intending that this thread was about IDA |
well clearly your wife did...
fyi,warning..please do your research before buying into this.....
bottom line, anna is ryans wife, these are spam posts...
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Lori
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| Posted: Sun Mar 01, 2009 2:09 pm Post subject: |
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Hi Ryan,
Nice Press Release, but... both you and it failed to address Lori's comments on the Miss-information on the IDA web-site.
| Quote: | Quote:
For example, if you have a $1,000 collision insurance deductible, and you are involved in a collision that requires $5,000 worth of repairs to your vehicle, you would be required to pay $1,000 (your collision insurance deductible) before the insurance company will pay the remaining $4,000 to the repair shop.
Can't even tell you how wrong and illegal that statement is in ALL states....no carrier can make an insured pay the deductible upfront...(might want to check the fair claims practice laws of each state)...the company will issue the 4k payment period...
and again same incorrect information Quote:
collision insurance pays for the repairs to the vehicle after the consumer pays their collision insurance deductible. |
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I'd also like to mention that a Higher Deductible does not always save money. True it lowers one's Premiums. But... how much if any money is saved in the long run is dependant on one's Accident Frequency. How can that be one may wonder¿¿
[ I did not call a dozen insurance agents to get actual numbers]
If one increased their deductible from $500 to $1000 and it resulted in an annual saving of .... say.... $80. At $80 it would take 6.25 years to accumulate the $500 additional Deductible amount. Which would be the "Break even" point. After this accident Free length of time one would begin to actually save Money. On the other hand... if one had the misfortune of 2 (Two) accidents in a 6.25 year span.... Ought-Oh.... now its costing more because of that higher deductible.
So now one would need to be accident Free for 12.5 years in order to reach that "Break even" point. With a bit of bad luck that Savings could prove to be very very expensive for an "insurance consumer" and at the same time be a Profit center for an insurer. Wow... with that in mind I can see why... " Richard Hawkins Vice President of AAA Insurance of Washington and Idaho" and "Gerald McElroy is a member of the board of governors of Farmers Group Insurance and sits on the board of directors for Zurich Insurance as well" ...would be interested in making it easier for a few unlucky insured's to Pay more for less insurance.
The skinny of this whole idea of Higher Deductibles to save money works best for people like me, that get into a fender bender every 25 to 30 years.
Bottom Line:
Before one Up's that deductible... Call you Agent and get the Real Numbers..! Then divide the amount of the deductible increase by the annual savings amount to get your "Break even" point. [ number of accident free years required to recover the deductible increase ]
Just My Thoughts... and I'm sure that if I've misstated anything... someone will tear me a new one... 
FK |
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FK
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| Posted: Sun Mar 01, 2009 2:26 pm Post subject: |
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| Quote: | | The skinny of this whole idea of Higher Deductibles to save money works best for people like me, that get into a fender bender every 25 to 30 years |
Really good points Fred...also raising deductible is good for those that are paying a lot higher premiums than we are to begin with! But even in my case, and my (adult 30 &27 yr olds) kids cases the savings for them was really pretty big, like 50 bucks or so a month...for us, maybe 10...as long as they bank that savings until they have that deductible set back. | Quote: | | Before one Up's that deductible... Call you Agent and get the Real Numbers..! Then divide the amount of the deductible increase by the annual savings amount to get your "Break even" point. [ number of accident free years required to recover the deductible increase ] |
Absolutely! I couldn't agree more...old farts like us don't save near as much fred. Tell you something...(and it's almost embarrassing)....i just toll, la la'd for years not even 'thinking' about my HO deductible which had been the same for 20 yrs or more...when HO policys were cheap...anyway, it was either 100 or 200 i changed it to 500 and saved OVER 250 a year! man i was so pissed off at myself! of all people i should've known better...
| Quote: | | Just My Thoughts... and I'm sure that if I've misstated anything... someone will tear me a new one... |
far as i'm concerned you stated everything perfectly Fred, don't think i've seen you 'torn up' before...  frankly I'm too wore out anyway by the 'dynamic spamming couple' to tear anyone else up today
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Lori
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| Posted: Sun Mar 01, 2009 3:02 pm Post subject: |
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HI Lori,
WOW I Feel like I'm being attacked. I did not want be a pissing match at all, And I truly wanted this thread to be about the reason about the first post.
That fact is "Anna" is my wife. The truth of it is I made my post just before I left for work, and left the site up. My wife thought she would help by making a few posts of her own after I left. This was her first time posting on a forum and she did not read the rules and she tried to go back and remove the links but the system would not let her. She does have a blog as well about IDA because it has truly changed my life and financial situation. And I am sorry that this turned into a "setup" thread" that was not my intention, I wanted it to stay on topic.
As far as the "wrong" information on the site I agree that information is wrong you don't have to pay your portion before the insurance company does. You're making a big deal about a small error in verbage on the FAQ page, I did sent it to the I.T. team to have them fix it after you brought it up though, the site was put up by our web designers and sometimes they use their own words, so thank you for pointing that out.
You said "the Head honcho" says we launched on September of 08 which is correct as far as the marketing side of the company. By the way I am one of the "Honchos" as you put it And The company of IDA has been selling the CDRP for over 5 1/2 years, and has been doing legal work and product development for over 9 years. We spent the last 5 1/2 years going to every state and getting the OK for the CDRP.
Also We do not cover Comprehensive and don not ask you to raise it, Collision is one of the most expensive portions of a policy and by raising just collision will save you 10% - 40%.
About the "Filthy Rich" thing Come on, for me filthy rich is doubling my income in the last 5 months. The truth is we help people save money in a way that they would not have thought otherwise.
We are not a "shirt tale cousin of a pyramid scheme" All insurance companies fall into this category.
And as far as honesty issue, Like I said before this posting was to be just about the original post and anna got a little excited about posting, so who cares everyone makes a mistake, so lay off please.
And I agree with FK, LIke I said the CDRP is not for every one, it is there to help people to start saving money.
and as a additional fact the IDA is not and insurance company and the CDRP is not an insurance product it is a Service Contract and Savings Program. You do not need to switch companies or agents to use the CDRP.
Oh and Lori, I did try to openly discuss the CDRP once but my posts were deleted without even a response from the board. I am interested in helping people save money, and just like you, an insurance agent, I get paid to help others. The fact is we both have the same goal. You are on this forum to help others and to build a reputation for yourself to drive business as an agent.
| Quote: | | Just My Thoughts... and I'm sure that if I've misstated anything... someone will tear me a new one... Smile |
Thanks FK I feel like the one I have has been sufficiently enlarged for no reason at all...
Lori like I said before if you would like to know more feel free to pm me and i will intro you and give you more info, I am one of the "honchos" in the company and am now friends with all the founders and principles of the company.
like I said lets just try to save as much money as possible in these times
And I suggest that you do what Lori suggested, do your homework and look for yourself. And what you will find is a great company and service.
have a great one,
Ryan |
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greeryan
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| Posted: Mon Mar 02, 2009 8:52 am Post subject: |
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Let me see. Give this company my saved $1000 or save it myself and put it in an account that I can gain interest from until I have an accident? I only went to one of them higher education skrools for 4 years so I’m going to have to think on this one. I’ll have to get back to you.  |
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Dasfuk
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| Posted: Mon Mar 02, 2009 3:08 pm Post subject: |
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Hi Dasfuk you bring up a good point why not put the money in a savings account. Lets say that you raised your collision deductible today and you were saving $25 dollars a month on your insurance It will take 40 months to set aside your $1000. Now put that money aside in a savings account where you earn interest, with that type of money you will get around 1-2% annual return.
What happens if you have a wreck before your 40 months have gone by? Where are you going to come up with the difference? You now have increased your financial risk during your funding period.
This is were the CDRP comes into play if you have an accident before you have set aside your full $1000 IDA will advance you the difference interest free and you just pay back the advance at a minimum of $25 a month. Your savings account cant do that.
You can also set up a $1000 CDRP for as little as $650. Lets see if I do that I could compare that to return of 53.8% just on the initial funding, Plus lets say that you still save $25 a month that is $300 a year that would compare to a 46% annual rate of return, a penny saved is a penny earned. The CDRP is not an investment but I don't know of a bank account that give those types of returns.
Plus what happens if you have 2 cars? and you wreck both cars in a short amount of time? By just setting aside $25 dollars a month in a bank account your risk is even greater with the more cars you have.
This is another place where IDA's CDRP is a better option because one CDRP covers all cars and all drivers in the household. So lets say you have set aside your money in a cdrp and you wreck your car, the cdrp funds the deductible for your accident. Now 2 months go by and or what ever length of time you want and you have another accident in your household the CDRP will advance you an additional $1000 interest free to cover the additional accident. A bank account would not do that. And your funds are FDIC insured with a CDRP so they are safe.
Like I said before the CDRP is not for all people, BUT it is a great savings tools that can help millions of people.
Have a great one,
Ryan |
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greeryan
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| Posted: Mon Mar 02, 2009 3:18 pm Post subject: |
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Subhedar, WHY DID YOU REPOST ONE OF MY POSTS AS YOUR OWN?
| Quote: | | WOW I Feel like I'm being attacked. |
I'm sure you do and for good reason...put yourself in my (or anyone who cares about this sites) position....you post your home page as a question/new thread..then another new poster flags the company you work for...hmmmm the same day, but that poster continues to say things like.. | Quote: | | I don't work for the company, I just heard about it and thought it was cool. |
| Quote: | | Has anyone heard of the new company IDA? I've heard a little bit about it and it sound like they'll help you set up an account that is meant specifically to cover your deductible. |
| Quote: | | So Ryan - it might be a little late, if you've already been in an accident, but it would be a good idea for next time. |
Now you come on Ryan...
| Quote: | | And as far as honesty issue, Like I said before this posting was to be just about the original post and anna got a little excited about posting, so who cares everyone makes a mistake, so lay off please. |
Why don't you ask your bride to let you read the pm I sent her where I all but begged her to be honest...here's a portion of that (my) pm response.. | Quote: | | I'm sorry honey but this all still looks fishy to me...appears the OP that you are 'responding' to is also a rep for this company (ryan)..so....are you SURE you have no affliation with this company? it's fine if you do, you just need to follow the rules of the forum...but there will be only one shot at being truthful ok? |
I clearly gave her the opportunity to 'come clean' and set this straight...she responded to this with 'no just 'heard' about it'....so see she was given more than ample opportunity to right her wrong..not only did she lie about that, but turns out to be your wife... All she would've had to do was tell the truth that's all. you say you didn't have anything to do with it..ok, well i'll just have to take your word for it....still it's wrong, dishonest and in direct opposition to this sites TOU... | Quote: | | Oh and Lori, I did try to openly discuss the CDRP once but my posts were deleted without even a response from the board |
I would have to see the post, and of course can't if it's gone...what you should've done, is openly go to the agents forum, post that you are selling a new product ask for people/professionals to review it, and see what they think, and if they can come up with ways to help you sell it, find leds whatever...but 'masking' it...not an honest way of doing business...
Now to set you straight on something else.. | Quote: | | just like you, an insurance agent, I get paid to help others. The fact is we both have the same goal. You are on this forum to help others and to build a reputation for yourself to drive business as an agent. |
If you'd have read a few other of my posts you would have known I am NOT an agent nor have I ever been one..I'm an insurance claims adjuster and no I do not get paid a commission or by the claim, i work for a company and handle primarily property damage claims, have been in this biz well over 20 years...so bing bang bomb, there went that theory....I work on this site to help folks yes, but certainly not to help 'my' business since I don't have one! | Quote: | | Thanks FK I feel like the one I have has been sufficiently enlarged for no reason at all... |
There was plenty of reason and you know that... | Quote: | | I only went to one of them higher education skrools for 4 years so I’m going to have to think on this one. I’ll have to get back to you. |
Das...don't forget about the 25.00 admin fee you have to pay too...now honey you don't hurt your perdie little noggin' thinkin' too hard on this, and be sure to let ole mama lori know when you get this here thing figured out... 
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Lori
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| Posted: Tue Mar 03, 2009 12:59 am Post subject: |
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After some serious deliberations with my toaster oven and lamp (yes they talk to me but only when I ask them questions, but that’s another story), we have concluded that this walks and quacks like a duck.
Now I don’t pay for my car or my insurance so this plan really isn’t for me, but I can’t understand why people wouldn’t keep their deductible at $500 and curb expenses that aren’t necessary. If people were true to themselves, there are a lot of expenses that are not necessary but are made every day. |
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Dasfuk
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| Posted: Tue Mar 03, 2009 1:21 am Post subject: |
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| I think the whole thing is a big old crock of you know what. Ckming onto the site underf alse pretenses and trying to make a buck is just wrong. Honesty would have been the best way to approach this forum and that was not done. Anyone who reads through this entire post will see Lori calls these people on there bluff several times. Lies, lies, and more lies. All I have left is one question...Who wants to do business with an untrustworthy company? |
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fireyone
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| Posted: Fri Mar 06, 2009 2:41 pm Post subject: |
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| I wonder if this is something Mark the pilot would be interested in. There is an online tutorial that gives a breakdown of the IDA mlm system. I think it is called building wealth. |
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CascadeDave
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| Posted: Fri Mar 06, 2009 2:57 pm Post subject: |
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| Quote: | | I wonder if this is something Mark the pilot would be interested in. |
wouldn't that be just awesome! | Quote: | | There is an online tutorial that gives a breakdown of the IDA mlm system. I think it is called building wealth. |
I saw that, thus my 'cousin to a paramid" remark..(that might've been on his other thread).
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"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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