by FGBC » Tue May 22, 2012 11:54 pm
Does anybody know anything about this life insurance company who also allegedly helps you save for retirement? I was recently approached by a "sales agent" and they were really persistent in trying to have me sign a GIUL insurance. Are they legit?
Posted: Fri May 25, 2012 11:51 am Post Subject: World Financial Group
Search the web for the company's website. Check their accreditation with BBB. Affirm about the reputation of the company in the market. Seek their client responses. The Internet can be your true ally here, to some extent at least.
Posted: Fri Jun 15, 2012 04:12 am Post Subject:
Check their accreditation with BBB
Utterly worthless. The only persons who have any control over the actions of an insurance agent or agency are the Dept of Insurance and the courts. The BBB has absolutely no ability to assist a person who has a problem with an insurance agent, agency, or company.
World Financial Group (WFG) has a clouded history, reaching back to its days as the World Marketing Alliance (WMA), started by a gentleman by the name of Hubert Humphrey (not that Hubert Humphrey who was Lyndon Johnson's VP and lost to Nixon in the race for President in 1968) and a few friends who departed from the AL Williams company (now Primerica) in search of bigger commissions from selling UL instead of term life.
WFG continues to market various forms of UL policies today, their agents claim to represent as many as 30 of the largest insurance companies in the world, and write almost all of their business through just two -- Transamerica and Western Reserve Life (both "members" of their common alien corporate parent, Aegon). They have been known to use high pressure tactics to get people to become agents, only to obtain their "warm market" list to sell more insurance to those folks.
Their policies are legitimate insurance contracts, but they probably won't perform as illustrated at the sales appointment.
And if anyone has been encouraged to stop contributing to a qualified retirement plan in favor of any life insurance policy, you and I need to talk. If anyone has been abused by a WFG agent or an agent of any insurance company or agency, I may be able to assist you to obtain a recovery of all you have paid into their policy on the basis of misrepresentation or fraud.
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