Good question..do credit card/banks really pay you

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PostPosted: Sun Jul 12, 2009 6:24 pm   Post subject:   

The conclusion that I am being forced to draw is that you don't want to answer questions here because it won't make your company look very good.



It's quite amazing that I'm the only one in the world who finds paying for your service to be a waste of money. You must be making serious bucks.



As I've previously stated, I have nothing to gain by deciding that your service isn't worthwhile. In fact, I'm trying to give you the opportunity to prove how great your service really is. After all, I sell several hundred policies a year and if you can prove to me that your service is worthwhile, I'd be happy to refer lots of business to you. There are some other agents on this board who also sell lots of policies. It could be great for your business.

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PostPosted: Mon Jul 13, 2009 6:04 am   Post subject:   

Hi FindYourPolicy,



The part I'm concerned about is data security. I think I'd be sharing very personal information in your site like- my contact details, name of the beneficiary and policy info. How is this information protected?



Thanks,

Rupert

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PostPosted: Mon Jul 13, 2009 11:21 am   Post subject:   

Hello Rupert,



That question is a concern of everyone these days. The information that we ask you to enter is very minimul. You would enter your first and last name, your address and phone number which is optional, the last four digits of your Social Security number along with your date of birth. (This is information that some banks use for security and no one can do anything with it) You would then enter the email addresses of the beneficiaries who you would like notified with our quarterly e newsletter. No names are mentioned only email addresses given. These could be your beneficiaries, an attorney or financial rep etc. Then you would mention the company name that holds your life insurance. You never enter your policy number, your social security number or any amounts what so ever. This is not needed. All FindYourPolicy.ocm is here for is to give your loved ones a direction on where to start looking. As you can see, if someone were to penetrate our website they get no information that they can use to steal your identity. If you were to fake my death certificate and find out who I have life insurance with, the only person that will get paid is my wife. The beneficiary of a life insurance policy is the only irrevocable judgement a court cannot reverse. Sure there are certain curcumstances however, they would have to show up in court and argue with my wife, so simply stealing it will not be possible. Unlike other internet data storage companies we do not ask you to scan any documents. We just ask that you enter the company name that holds your life insurance policy and or the bank where you have a safe deposit box at. We are further protected by the entities that we deal with. Banks and Insurance companies. When it is time to claim your benefits your loved ones must go throught their protocal to receive a check. We simply gave them a direction on where to start looking so that they will never be at a loss of where to start. It is free for your beneficiaries to search our database. They simply go to the research tab and enter your last four digits of your social security number and your date of birth (which is found on a death certificate) and the only thing they will see is the company name that you entered. There is an example of what they will see on the website if you are interested.

Thank you for the question.

Michael



Thank you Michael

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PostPosted: Mon Jul 13, 2009 11:54 am   Post subject:   

Rupert, help me to understand something from the consumer's standpoint. (Let's assume for a second that Michael's company is well known reputable corporation.)



You can pay Michael a fee every year. In exchange for this fee, he will have a listing of your policies and the beneficiaries. He will also occasionally contact your beneficiaries to let them know that they are beneficiaries of certain policies



As an alternative, you can not pay Michael a fee. Instead of sending the information to Michael, you can cut out the middleman and send the information to your beneficiaries and your attorney and CPA. Use the fee to increase your term life insurance by $25,000.



What is the advantage to you and your beneficiaries to use the service?



By the way, my biggest problem isn't paying a fee to do something in which paying a fee isn't necessary. My biggest problem is that the odds favor the fact that one will outlive the company. This service only has value if you die while the company is in business. For one, since most businesses fail that means that it doesn't make sense to use this business until after it has proven to be financially successful. Secondly, it only makes sense to use if it is a publicly traded company. Otherwise, the odds of it surviving Michael are very slim.

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PostPosted: Mon Jul 13, 2009 2:35 pm   Post subject: credit card/banks really pay you...  

I really do not know who this 'Insurance Expert' claims to be, however, I can assure you, I do feel sorry for his clients...if he really does have any! I would be running in the opposite direction real fast!

You seem to be speaking of subjects you have absolutely no clue on. Please stay with the subject, or get off this forum and let the professionals deal with the questions.

Please remember, this is a professional site where people try to give honest answers to, sometimes, some very sensitive circumstances. Members come to this site for professional advice, not to hear someone complain about everyone and everything. (It seems you have a complaint about every subject on the planet!)

FindYourPolicy.com is here to assist those in need and who have no where else to turn. It is a GREAT idea! They are insurance for the insurance!

Like Michael said...(and please pay attention...as it seems you do not want to hear this!)... he is here to assist those who do not have the time to do what you are saying everyone should.

There are many Life Insurance companies who have gone out of business or have been bought out by another firm. (It seems you are not aware of this...) As a result, your concern of 'going out of business', there should be more concern for some of the Life Insurance companies than FindYourPolicy.com. (I am sure you also will not be around for 100yrs, where will your clients go then....or will you just 'close up shop' and leave your poor clients hanging after they have paid their premiums each month for years??)

Like I said, this is a GREAT service. If you do not like it ... then do not use it. It is as simple as that!

Now please, let the professionals deal with the questions and you go about your business in a different forum.

I will not be back, but this needed to be said as 'Insurance Expert' is extremely misinformed.


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PostPosted: Mon Jul 13, 2009 3:31 pm   Post subject:   

Michael, it is this kind of post that causes you to lose credibility. It appears as if you are posting as someone else to try to defend your service.



Conceptually, I love the idea of find your policy. It would be great if the insurance industry did this. It needs to be done from the inside and not the outside to work.



What I'm suggesting that people do doesn't take any more time than contacting and paying for find your policy.



Life insurance companies have been around for over 100 years and death claims never not get paid due to a company going out of business. As best as I can tell, find your policy isn't even an incorporated business. I will be out of business before most of my clients die. That doesn't matter. They don't need me to be working to collect on their claims.



I may be misinformed. If I am, please set me straight. Let's start with the answer to this question.



"Is the company incorporated?" I see nothing on the website that gives any indication that it is.

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PostPosted: Mon Jul 13, 2009 3:43 pm   Post subject:   

I don't hide behind anyone. That post is definitely not me.



Michael

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PostPosted: Mon Jul 13, 2009 3:56 pm   Post subject:   

"Is the company incorporated?" I see nothing on the website that gives any indication that it is.

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PostPosted: Mon Jul 13, 2009 4:00 pm   Post subject:   

Hello Insurance Expert,



There are many times when a insurance company goes out of business that the insurance is lost. For example. If you have a term policy with company A and lets just say it is a 10 year policy at age 40. If you were to pass away at age 46 and no one claims it then the insurance company will just assume that the policy holder no longer wants the policy. So the term policy has done it's job. If a few years later company A gets bought out by company B, company B only will honor policies that are active. So if you now are looking to get paid from that specific term policy, there will be no record of it. They do not have to honour term policies that have elapsed. I got this information straight from the Government. This is the reason that it is so important to claim your life insurance as soon as possible. With companies going out of business eventhough they are very very large and have been around for many years it is crucial to find and claim benefits as soon as possible.

With FindYourPolicy.com we charge an annual fee that will be charged every year for the member to be part of our service. They will be covered for the year that they paid. Just like life insurance, if you pay the monthly or yearly fee you will be covered for that time. The reason we do not charge a fee or discount for multiple years is due to the fact that many people also feel it is not safe to invest in a new company for a very long time. If you want to be a member you will have to update your membership yearly. We will not change from this.



If you go to our "Terms of Use" on the website it will answer your question about us being incorporated.



Michael

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PostPosted: Mon Jul 13, 2009 4:19 pm   Post subject:   

Michael, let me give you a gigantic BOO!





I asked a very simple straight forward question, "Is your company incorporated?"



You could have given an honest answer, but since you know that the answer isn't a good one, you chose to not answer and instead said, "see our terms of use."



The answer to the question is "No, we are not incorporated."



This is of huge importance because it means that the company most likely dies when you die or when you don't feel like doing it any more.

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PostPosted: Mon Jul 13, 2009 4:23 pm   Post subject:   

When did find your policy start?

How many paying members do you have?

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PostPosted: Tue Jul 14, 2009 3:51 am   Post subject:   

Hello Micheal,



I have got another question for you.



Would your company update the information autometically when an insurance company changes its name or gets merged with another?



Expert,



Quote:
What is the advantage to you and your beneficiaries to use the service?




Well, I'm sure that advantages and disadvantages would vary with the person but in my lifetime in this board I've come across many threads where the posters inquired about the life insurance policies of their parents or spouses.



I guess none of these people have informed their beneficairies on time about what they are due of or may be the beneficiary have forgotten all even if they were told. That time we certainly feel that a centralised database containing all these information would have been useful.



Anyway, I agree with your idea too, nothing would be better if we pass the information to the right person on time and without failing. I think more awareness in this regard is required, hmm.... what do you say?



Thanks,

Rupert
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PostPosted: Tue Jul 14, 2009 10:10 am   Post subject:   

I find it very interesting that Michael disappeared last time when direct questions started coming his way and I think that the result will be the same this time. I hope that I'm wrong.



I love the concept of Michael's company. One problem is that the type of person who would do business with Michael's company is the exact same person who does not need Michael's company.



What I mean is that the person who will take the time to organize everything and give the information to Michael's Company is the same person who will let his beneficiaries/attorney/cpa know what he has and where to find it.



A centralized database would be great. The MIB has a centralized database, but it isn't complete. A central database has to be kept by a corporation and not a sole proprietorship or partnership like Michael. (I don't know if he has a partner.)



I'll start a new thread because I am in complete agreement that more awareness is needed.

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PostPosted: Tue Jul 14, 2009 10:36 am   Post subject: life insurance  

I've come across alot of 'do it yourself' Wills/POA's on the Web, that you can (supposely?) add your Life Insurance policies on to. Are these sites legit? Will they stand up in a court of Law? Can anyone give me advice on these, if they have any?

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PostPosted: Tue Jul 14, 2009 11:02 am   Post subject:   

Quote:
We will not change from this.


Won't you do it even when you've operated for over a period of time? I don't see any harm in offering it to people for multiple years if they trust you over time.



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