which company do you think is best in field of life insurance
Total Comments: 27
Posted: Thu Oct 30, 2008 06:41 pm Post Subject: insurance
I sure will!! When I get a chance' I'll PM ya'll. I have Auto Insurance through Nationwide. I'm just not too crazy about their Life Insurance policies.
Posted: Thu Oct 30, 2008 07:16 pm Post Subject:
A big law firm I work with in Fresno is currently suing Nationwide on a big life insurance fraud case. I've studied thier life insurance division and do not like them at all.
Cast-away,
I just offered my opinion regarding State Farm and that doesn't necessarily mean anything - unless we're in a court of law.
Posted: Sat Nov 01, 2008 12:39 pm Post Subject: insurance
I realize this post is a few days old, but,...it 'caught my eye.' Can you explain, a bit more, INS, what's happening that you have to sue? Thanks.
Posted: Sat Nov 01, 2008 04:21 pm Post Subject:
Nationwide Life Insurance Company
P.O. Box 182150
Columbus, OH 43218-2150
800-547-7548
Nationwide agent:
John W Pena
CA Insurance License #OC46829 (inactive)
When these policies were written, Pena worked for:
Joseph Charles and Associates
2500 North Military Trail Suite 300
Boca Raton, FL 33431
(800) 284-9995
In March 2001, Pena left this firm and went to work for
Schochet (pronounced “shocket”) Securities Inc.
433 Plaza Real
Boca Raton, FL 33432
(561) 362-9300
In or about March of 2002, Pena left the Schochet firm and went to work for
Concord Equity Group
Wealth Management
Metro Park South
100 Matawan Road
Matawan, NJ 07747
Pena, who was in the top 2% of Nationwide's salesforce, misrepresented the terms and conditions of (2) life insurance policies with annual premiums of around $2.5 mil each. There were some suitability, vanishing premium fraud, premium misdirection, and wrongful replacement issues. And the fact that he (may have) created his own policy illustrations to suit his needs.
We've suspended his license in CA and Nationwide is vehemently defending him and others in his agency.
Posted: Sat Nov 01, 2008 11:48 pm Post Subject: insurance
Hey..INS,......you had proof of all of this? You say "we've suspended his license." Who is we? The company you work for? John Pena...that name sounds VERY familiar to me..NO KIDDING!! Nationwide is backing him up?! Mmmm.........apparently Nationwide doesn't think he did anything wrong.
Posted: Sun Nov 02, 2008 03:00 pm Post Subject:
I think Northwestern Mutual is one of the best life insurance companies.
I have had life insurance through Northwestern Mutual for 10 years and they pay good dividends on their policies.
Among other top life insurance companies are New York Life and Prudential.
Posted: Sun Nov 02, 2008 04:46 pm Post Subject:
Hey Lori, I'm sorry, I mis-spoke on that last post. The CA State Insurance Commissioner (disclaimer: I am no longer contracted or employed by the CA DOI and have no part in any of their investigations) suspended his license based partly on information I uncovered. The company " I work for" is Mark J Colbert Enterprises. I subcontract out to law firms, some regulatory-type agencies, and individuals for a fee.
In my opinion, Pena is a bumbling fool and a con man. Although I have gathered boxes of evidence against them in this case, Nationwide is defending him. I suspect, however, that as the trial date nears and the threat of media attention increases, they'll settle.
Posted: Thu Oct 30, 2008 06:41 pm Post Subject: insurance
I sure will!! When I get a chance' I'll PM ya'll. I have Auto Insurance through Nationwide. I'm just not too crazy about their Life Insurance policies.
Posted: Thu Oct 30, 2008 07:16 pm Post Subject:
A big law firm I work with in Fresno is currently suing Nationwide on a big life insurance fraud case. I've studied thier life insurance division and do not like them at all.
Cast-away,
I just offered my opinion regarding State Farm and that doesn't necessarily mean anything - unless we're in a court of law.
Posted: Sat Nov 01, 2008 12:39 pm Post Subject: insurance
I realize this post is a few days old, but,...it 'caught my eye.' Can you explain, a bit more, INS, what's happening that you have to sue? Thanks.
Posted: Sat Nov 01, 2008 04:21 pm Post Subject:
Nationwide Life Insurance Company
P.O. Box 182150
Columbus, OH 43218-2150
800-547-7548
Nationwide agent:
John W Pena
CA Insurance License #OC46829 (inactive)
When these policies were written, Pena worked for:
Joseph Charles and Associates
2500 North Military Trail Suite 300
Boca Raton, FL 33431
(800) 284-9995
In March 2001, Pena left this firm and went to work for
Schochet (pronounced “shocket”) Securities Inc.
433 Plaza Real
Boca Raton, FL 33432
(561) 362-9300
In or about March of 2002, Pena left the Schochet firm and went to work for
Concord Equity Group
Wealth Management
Metro Park South
100 Matawan Road
Matawan, NJ 07747
Pena, who was in the top 2% of Nationwide's salesforce, misrepresented the terms and conditions of (2) life insurance policies with annual premiums of around $2.5 mil each. There were some suitability, vanishing premium fraud, premium misdirection, and wrongful replacement issues. And the fact that he (may have) created his own policy illustrations to suit his needs.
We've suspended his license in CA and Nationwide is vehemently defending him and others in his agency.
Posted: Sat Nov 01, 2008 11:48 pm Post Subject: insurance
Hey..INS,......you had proof of all of this? You say "we've suspended his license." Who is we? The company you work for? John Pena...that name sounds VERY familiar to me..NO KIDDING!! Nationwide is backing him up?! Mmmm.........apparently Nationwide doesn't think he did anything wrong.
Posted: Sun Nov 02, 2008 03:00 pm Post Subject:
I think Northwestern Mutual is one of the best life insurance companies.
I have had life insurance through Northwestern Mutual for 10 years and they pay good dividends on their policies.
Among other top life insurance companies are New York Life and Prudential.
Posted: Sun Nov 02, 2008 04:46 pm Post Subject:
Hey Lori, I'm sorry, I mis-spoke on that last post. The CA State Insurance Commissioner (disclaimer: I am no longer contracted or employed by the CA DOI and have no part in any of their investigations) suspended his license based partly on information I uncovered. The company " I work for" is Mark J Colbert Enterprises. I subcontract out to law firms, some regulatory-type agencies, and individuals for a fee.
In my opinion, Pena is a bumbling fool and a con man. Although I have gathered boxes of evidence against them in this case, Nationwide is defending him. I suspect, however, that as the trial date nears and the threat of media attention increases, they'll settle.
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