World Financial Group Reviews

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I agreed to meet 2 recruiters (husband and wife duo) in Encino CA for Trans America just before NYE and am really ticked!! Not only do they call to recruit you stating that you can make all kinds of money but the course fee they charge you for is non refundable after...
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7 comments
#1273469

Congrats...even thow you were 1 day to late at least you learned WFG is a scxx and you didn't waste 3-4 years making a measly 2272$/year..average commission that a recruits-agent at wfg makes.Most that start with this business are cought in the rah rah meetings and everybody makes millions because they say they do..but nobody shows you proof of income!!

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ID
#994098 Review #994098 is a subjective opinion of poster.
Location
Los Angeles, California
Cons
  • Agents often have little to no credentials
  • Refund policy
  • Vague in the beginning
Reason of review
Return, Exchange or Cancellation Policy
Loss
$120
Preferred solution
Full refund
I’ve been watching the A&E documentary on Scientology. It’s interesting how there are so many similarities. 1. They have conventions several times a year where members are strongly encouraged to attend. 2. The conventions are big rah-rah meetings about their...
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3 comments
#1278230

This describes the cult quite well;

http://handleyourmoneywisely.blogspot.ca/2012/07/world-financial-group-join-cult.html

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#993254 Review #993254 is a subjective opinion of poster.
The truth about world financial group. I have decided to check into this myself and go to their offices around Alberta. Now what I've seen is all major banks in North America would not attach their names to a pyramid scheme. TD or Bmo would not risk their reputation....
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8 comments
#1272483

Alberta WFG salesman fined;

wwwdottheprovincedotcom/Edmonton+mutual+fund+dealers+fined+misconduct/1239****/storydothtml

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#990689 Review #990689 is a subjective opinion of poster.
Reason of review
Good quality
New Reviewer
World Financial Group - WFG is a Great Way to Go BROKE and LOSE FAMILY and FRIENDS
World Financial Group - WFG is a Great Way to Go BROKE and LOSE FAMILY and FRIENDS
Mr/Ms WFG No-name from Nowhere. Please spare us your big fat lie about "many big earners" at WFG. It's total bull cr*p and you know it. Here I give you the straight-up MATH to prove your claim is bullcr*p. Dear Reader. Fact is, in 2015 North Americans were *72 times*...
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58 comments
#1961464

WFG is a big fraud. Agent working are useless.

Don’t have enough knowledge regarding product. We got cheated by our own friend. He was either not knowing about policy or he want to make big commission thats why he did wrong policy. After paying 300$ for 3yrs we now came to know from someone about the policy.

After knowing its of no use for us. He for his own benefit did wrong policy. We cancelled policy.

Lost more than $7200. Please don’t put your hardly earned money in the cheaters pocket.

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ID
#969359 Review #969359 is a subjective opinion of poster.
Cons
  • Awful training
  • Too much recruiting
Reason of review
Bad quality
Loss
$10000
New Reviewer
Great Experience equal opportunity for every body
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1 comment
#1249657

Yes Jaswinder Dhillon. WFG offers a Greatly discouraging Experience.

And this MLM gives equal opportunity to every warm body to waste his time, squander his savings, and ruin his friendships and family relations in the pursuit of a dream he can attain only by selling his soul to massively rip off people who trust and even love him. The numbers show you are much more likely to rise to the top at your J.O.B. that slaving away as an agent at WFG. And going up through the ranks of your J.O.B., you're less likely to detest yourself for the rest of your pathetic, craven, utterly corrupt life.

Thank you for bringing this up.

ID
#966041 Review #966041 is a subjective opinion of poster.
The agent took my mother's investment paperwork to her while she was dying in the hospital and had the beneficiary changed to the agents mothet
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1 comment
#1249224

Did you contact an attorney about this? When did this happen?

In which state/province did this occur? Did you directly confront the agent about this? Did your mother and this agent know each other for a long time?

If so, how long? If you can supply non-identifying details, I may be able to point you in the right direction to seek redress for this.

ID
#963047 Review #963047 is a subjective opinion of poster.
The woman I delt with was a bully. She would make me feel bad anytime I would want to take money out. There was not one time I left her office not crying. It's MY money, I can take it out whenever I want!!! Plus she would lie to me about my investment options in order...
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7 comments
#1244903

Here in Canada they call themselves World System Builder...so as you can see just the name tells you it's more about recruiting agents then actually selling financial products...all about feeding the pyramid!

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#940959 Review #940959 is a subjective opinion of poster.
Location
Calgary, Alberta
Reason of review
Problems with payment

Short Review on October 08, 2016

Yes, some of their agents and leaders are very unprofessional. They steal orher agents customers. Misleading and misrepresentation.
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ID
#933309 Review #933309 is a subjective opinion of poster.
Location
Brea, California
Reason of review
Poor customer service
One of the men who trains my wife and has done personal paperwork for her and on her behalf tried to cash a check from my bank account. I was alerted by fraud alert and told this persons name. The police will be in touch, you soon, you *** maggot.!
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1 comment
#1224151

Sorry to hear about that. Yes you are right,that's what I don't like on them, collecting money right away without client knowledge.

I DON'T LIKE THAT! They have fo respect their clients.Commission is their priority instead of helping the clients.I went to other campanies who has a trial apps.Meaning,you start paying after you get approved.

ID
#931806 Review #931806 is a subjective opinion of poster.
Location
Van Nuys, California

World Financial Group - Review in Financial Services category from Los Angeles, California

Dislike the fact that you have to pay over $130 for a position that they fail to inform you about from the start and that that is money you are not getting back unless you finish a probation period in a unrealistic amount of time and get people to buy "product" from wfg
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2 comments
#1224316

I just went thru the same ***. Im out the exact same amount. I never heard anything aboug the hustle til i was asked for my cc.

#1222049

Consider yourself lucky that $130 is ALL the WFGers ripped off from you.

You could be throwing away many $1000s on one of the truly terrible Universal Life insurance products that this dishonest and deceptive MLM outfit flogs to unsuspecting client-recruit-victims. Especially Transamerica's FFIUL that WFGers sell in the States.

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ID
#930233 Review #930233 is a subjective opinion of poster.
Location
Los Angeles, California
After over 5 years of paying $300 a month the amount paid is almost $20,000. The cash surrender value is less than $6,000. Where did all the money go? In the pockets of the sales agent. If you go into the office the office crew will gang up on you and tell you...
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10 comments
#1221505

Fort Lauderdale Anon. Thank you for inviting us to “ask question and be inform.”

Anon let’s take a look at each of your statements.

First Anon you say “...your policy covered you every day you have it..."

Uh, no D-UH Anon! You realize that's how ALL insurance policies work, don't you? Even a Term Life policy, which costs a fraction of what you have to pay for the pricey fee-bloated low-guarantee FFIUL. And guess what Anon?

You're as likely to let lapse the FFIUL before you die as a Term Policy! Even the SOA (Society of Actuaries) who heavily supply to the insurance industry, suggest the vast majority of IULs will lapse. They project a *90+% lapse rate* in the 50th policy year. Anon, please check it for yourself if you don't believe me.

Google this file: research-2007-****-us-ind-life-pers-report.pdf and you'll right to the SOA site. You can expect FFIUL failure to be much worse than other IULs--near TOTAL failure that occurs sooner. Anon, you and your partners in crime vastly overillustrate the FFIUL at 7--8+%--I've seen this and did it myself when I worked for WFG--when 3--5% is much closer to the truth. This will lead the policyholders to underpay their premiums month after month.

Years and decades down the line, when their COI charges start to skyrocket, TA will suddenly issue these poor policyholders massive carrier cash-calls and spark waves of FFIUL *FAILUREs* as your client-victims can't afford to keep them going. Thus Anon what you say here...

"...in the case of life insurance after years of paying they put something aside for you in case you decide to cancel the policy you can get the cash value of the policy..."

...is also WRONG, for the same reason as above. Due to your criminal overillustrating, the hapless policyholder will LOSE his IUL years and decades later.

He LOSES his cash, death benefit, EVERYTHING, after he dumped $100,000s into it. Why will these terrible events happen Anon? Because insurance companies like TA pay the IUL index credits out of a boring mix of corporate stocks and bonds that, over the long term, yield only 3--5%. Anon, don't believe me?

FACT: You can see it in Fig 1 in the Chicago Fed’s study titled, “What do U.S. life insurers invest in?”: www dot chicagofed dot org/~/media/publications/chicago-fed-letter/2013/cflapril201*-***-pdf dot pdf So Anon, please inform and enlighten us. How do YOU think Transamerica will conjure an extra 3--4% return year after year? Do you have any FACTS that will explain how this carrier will do that?

Anon, we'd all love for you to "inform" us on that. Next Anon you say: “...In the case of terminal illness or disability you can access up to 80% of the face value amount…” Sure Anon. Good luck with that, eh? TA's promises of Long-Term Care (LTC) and Accelerated Death Benefit (ADB) are far from assured.

Unlike the death benefit which depends on a binary condition (alive/dead), you find lots of gray areas in LTC/ADB. Which --sooprize!--the carriers exploit to the max to their advantage, denying everywhere they possibly can get away with it. Don't believe me Anon? Check out this piece from Forbes, "How Long-Term Care Insurers Deny Benefits." www dot forbes dot com/sites/nextavenue/2014/03/21/how-long-term-care-insurers-deny-benefits/#5ccbe79e7ac7.

Please read it and inform yourself. Oh and Anon, can you tell us where in the FFIUL it says anything about providing for you for “...disability…”? Maybe you'd like to "inform" us about that? You know Anon.

Maybe you will give us actual contract language to that effect? Finally Anon you plop out this steaming pile of nonsense: "...you have car insurance where you pay every month right and you never get a penny back after years of paying..." Anon, guess you haven't heard the news. All but one state (NH) *require* you to buy auto insurance. You have NO CHOICE in that matter--you HAVE to buy that insurance.

Anon, you compare apples and oranges. Anon, why don't you go here and inform yourself?: www dot 360financialliteracy dot org/Topics/Insurance/Cars-and-Auto-Insurance/State-by-State-Minimum-Coverage-Requirements Bottom line Fort Lauderdale Anon.

You should consider to "ask question and be inform" from actual knowledgeable people, not from your total greedy dumb-*ss WFG uplines, before you come here and excrete your ignorant sanctimonious nutrient-free word-stools--merely waste matter that totally lacks FACTs. Thank you.

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ID
#919400 Review #919400 is a subjective opinion of poster.
Location
Bethlehem, Georgia
Reason of review
Problems with payment
New Reviewer
HB Anon, for all your righteous high-flown talk about "...Loss of cash value ...never has been deceptive..." isn't it funny how so few people--including most of the WFG agents I’ve worked with--even know that? Funny that eh? Virtually NONE of the client-victims who...
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2 comments
#1324823

The FFIUL has an option of increasing or level benefit and you can change this whenever you want even later years of the policy life to suite your needs. Who told you that TransAmerica gets the cash value?

That's absolutely not true. It's a great investment tool in it's early stages and a great cash value asset you can make withdrawals upon once's it's accumulated a nice amount of interest over 20-30 years.

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ID
#913181 Review #913181 is a subjective opinion of poster.
Location
New York, New York
Reason of review
Harmful products sold through deception
Loss of cash value upon death when option 1 has been selected, has always been the case, and is not deceptive. The insured has the option of selecting option 2, which insures the cash value, and includes it in the death benefit. This really boils down to cost control....
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10 comments
#1297034

So, I just wanted to checkout what people had to say about the company a friend is working for. They are getting people free financial help and getting people the advise most financial advisors charge outrageous fees for.

I was very shocked by a lot of the information posted on here and questioned its reliability. Come to find out a friend of my dads small business was ruined from false complaints on this website and they wanted to charge him 1,200$ to remove the comments. You may or may not be correct, but this site is an extortion tool for competitors to bad mouth their rivals. Literally type any company name in and get the most outrageous complaints that are obviously just posted for the sole reason of getting that extortion tip.

Let's see if this comment even remains on here.

Lol what a joke website. I'll go to yahoo answers.

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ID
#913156 Review #913156 is a subjective opinion of poster.
Product
World Financial Group Seminar
Reason of review
Not as described/ advertised
New Reviewer
World Financial Group - Transamerica *KEEPS* Your FFIUL Money When You Die
World Financial Group - Transamerica *KEEPS* Your FFIUL Money When You Die
A shocking dirty little secret of Universal Life policies: you LOSE all your policy's cash value when you croak. This is true of Transamerica’s Financial Foundation Indexed Universal Life (FFIUL) policy and all other xUL policies. Check out the two pages here. These...
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22 comments
#1604528

Every cash value policy has different choices and uses,... in other words you and your agent must work hand in hand to custom design a policy.

All cash value policies can be designed to be either 'level', 'increasing' or even 'optimal switch' pogram. So, with all due respect be aware a 'level' option is not exclusive to WFG or Transamerica.

However, I absolutely agree with you, that to have a level death option without the client understanding what this will mean for their cash value, is completely misleading and unconscionable. I am on a cruade to help educate families, so if you or anyone reading this desires to have a second set of eye to evaluate and review their current policy I would be more than happy to be of service.

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ID
#912936 Review #912936 is a subjective opinion of poster.
Location
San Jose, California
Service
Transamerica Life Insurance
Cons
  • Harmful products
  • Deceptive sales practices
Reason of review
Ripoff products
Junior Reviewer
World Financial Group - FFIUL: Transamerica *Keeps* All Your Money When You Die
World Financial Group - FFIUL: Transamerica *Keeps* All Your Money When You Die
World Financial Group - FFIUL: Transamerica *Keeps* All Your Money When You Die
A shocking little-known fact of Universal Life (xUL) policies: you LOSE your policy's entire cash value when you die. This is true of Transamerica’s Financial Foundation Indexed Universal Life (FFIUL) policy and all other xUL policies. I attached two pages from an...
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4 comments
#1579069

I agree on what you said there, what you're talking about is a Level death benefit how do you get that type of insurance is depends on the AGENT that designed it for you. That agent that told you the info does not know other different types of insurance his talking about.

So before you post something like this know your facts first. Why, because you don't know what you don't know.

If the wrong person tell you a wrong info that is what you believe in. I hope you have a great day.

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ID
#912699 Review #912699 is a subjective opinion of poster.
Location
San Jose, California
Cons
  • Harmful products
Reason of review
Bad quality