Berkeley, California
7.5K views 45 comments
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Transamerica’s Financial Foundation Indexed Universal Life (FFIUL) policy is WFG’s top life insurance product. It’s the fat-commission policy my upline always pushed me to sell.

I worked for WFG and sold many of these FFIUL policies before I learned how little we knew about their dangers. Many of us agents bought them when we first signed up with WFG. We didn’t know then how few guarantees they gave us, the great risks we assumed, and how incredibly expensive these policies could become in our later lives. We passed our ignorance on to our customers and downline recruits.

The good news is that, if you bought the FFIUL, you may be able to take part in a class-action suit against Transamerica and/or AEGON USA and other issuers of Universal Life insurance products. Please go here to learn how you can participate:

Www dot lieffcabraser dot com/consumer/universal-life-insurance/

Lieff Cabraser Heimann & Bernstein (LCHB) is one of the leading plaintiffs’ firms in the country. It’s likely prepping a class-action suit against the carriers of Universal Life insurance products, which includes that FFIUL. You’ll see that LCHB put Transamerica and AEGON USA on its target list.

Your participation matters! Good luck!

Review about: Transamerica Ffiul.

I didn't like: Deceptive, Expensive, Few guarantees, Many risks.

Review #892272 is a subjective opinion of a user.

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Product or Service Quality
Reliability
Discounts and Special Offers
Diversity of Products or Services
Customer service
Additional Fees
Value for money
Price Affordability
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PRODUCT OR SERVICE Not specified
Reason of Review / Monetary Loss Bad quality / $5000
Preferred solution Not specified

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Keysha
#1315151

I love my FFIUL!!!

William3
to Keysha Berkeley, California, United States #1315154

Um, Keysha, WHY do you "love" your FFIUL?Care to enlighten us?

Maybe spell out for us the reasons why you "love" your policy? What features of it make your FFIUL so "lovable" in your view?

The FFIUL is a complex life insurance policy, not a teddy bear or a favorite pair of shoes.How long have you owned your FFIUL?

john43
to Keysha #1318653

Loving a FFIUL is like loving your car payment and when you die is when you benefit from a life insurance....sooooo what exactly do you like about life insurance and a monthly payment exactly???? It's astonishing how WFG agents try to sell bogus positive reviews on terrible insurance policies!!

Loving a monthly payment or loving to die to benefit from a FFIUL is quite a surprising announcement...haha..what a joke!!

Bob
#1302673

Its not just Transamerica!Its a witch hunt to line the pockets of attorneys.

Obviously this guy had a bad experience and wants to complain.

Which is his right. But I have had bad experiences and service from one place and received excellent service from another location of the same company. All agents are independent and run their own office. So you are going to get different experiences.

You can have a great experience at one Outback steak house and a lousy one at another. Its the people not the product.

Its not all agents it's some that give the rest a bad name.

Here's what the website says, nothing specifically about the FFIUL

Consumer Protection

Life Insurance Surrender & Hidden Fees Investigation Lieff Cabraser is investigating allegations of fraud and other deceptive practices in connection with the sale of universal life insurance policies by the following companies: Accordia (previously called Aviva and briefly called Athene) Aegon USA Allianz Allstate Life Midland National Life Minnesota Life NACOLAH Life National Life Group (which includes LSW) Nationwide Old Mutual Financial Pacific Life Penn Mutual Transamerica Voya Customers report that they have suffered unexpectedly low returns, and in some cases have lost their entire investments and been forced to surrender their policies, as a result of this alleged deceptive conduct.

We are investigating reports that these companies provide customers with...

If you have purchased an universal life insurance policy and were unexpectedly required to surrender your policy, have lost your investment, or have experienced lower than expected returns that you believe may be the result of undisclosed risks or fees or other deceptive practices, we invite you to complete our contact form below.

The information you provide will assist us in learning the full extent of the alleged practices, obtaining relief for affected customers, and stopping improper conduct by the companies going forward.We will review your complaint for free and without any obligation on your part.

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john43
to Bob #1303087

The problem is you are recruiting 200,000 agents a year and they ALL have a lousy 1 WEEK COURSE..so odds are they are almost all unqualified to sell anything and certainly not qualified to gamble your futur family insurance and financial needs.WFG agents and recruits should have at least a 2 year financial course..but I guess yelling at the ola las vegas brainwashing rah rah meeting makes them certified!?

GuillermoHorror
#1283680

Dear "Happy FFIUL customer." The FFIUL is a total bomb because late-life Cost of Insurance charges skyrocket virtually guarantee you LOSE EVERYTHING in your senior years, your Death Benefit and the $100,000s you dumped into this money-sucking black hole.Please see the 22 Jul 2016 review here on Pissed Consumer titled "Why the FFIUL--WFG’s Flagship Policy--is a *Disaster*" to lean the hard and fast FACTS and NUMBERS on that.

HFC, bottom line, that review has hard and fast numbers that clearly show the FFIUL is an absolute *disaster.* And then we have YOU, a totally faceless, nameless, unknown, anonymous person who totally FAILs to give us any evidence to support this horrible policy.

I'm sure the reader will figure out who gives the truth here.Thanks.

Happy FFIUL customer
San Diego, California, United States #1280899

Do you know what an FFIUL is & what it does?

How long have you owned it before imagining it was bad for you?

What are you comparing it to?

Which part of the FFIUL is bad?

Anonymous
to Happy FFIUL customer #1281008

How can you be a HAPPY FFIUL CUSTOMER..the only thing that you're doing right now is paying monthly premiums unless you are speaking to us from your grave and you enjoyed a short life?

William3

Dear Readers."DH" or "ThankYouMrHarper." Or whoever this anonymous person is from L*rd-Knows-Where.

Please let's us together thank this anonymous commenter. He/she highlights an excellent point:

**If you're shopping for financial products, please NEVER rely on a sales agent to give you the straight ***--especially from sleazy, unethical, unscrupulous, predatory WFG agents! Please ALWAYS engage a fee-only financial advisor--one who DOESN'T sell financial products--so you minimize you chances to get ripped off! If your sales agent is ethical and up-front, he'll be happy you engage the fee-only FA to check it all out.

You will soon find out you will NEVER get the straight story from an WFGer.**

"DH" you're welcome to call this a "debate" if it makes you feel any better. And yes you're right, the disclosures are in the FFIUL and other IULs for all to read--IF the client can understand it. Huge IF! DH, I've been there and sold those dreadful pigs in pokes.

As you suggest "DH" it's "Caveat Emptor." I knew the very high-trust low-knowledge clientele, friends and family who trust you way more than they understand what they are buying. Typically they have little or no true idea the enormous risk they take on when they buy an IUL. Thus WFG agents, many of whom very low-info themselves, take advantage of their clients. Knowingly or not.

That's why I'm here "DH"--to try to help people save themselves a whole lot of money and grief and...

Again the smart reader will know to very heavily question what YOU--whoever the h**l you are--claim here.

"DH" please feel free to claim I "...rushed into something [I] did not understand..." Any reader who's checked out my numerous other comments and posts here will know better. "DH" perhaps you should educate yourself? Just a thought, eh?

So "DH" please feel free to respond--or don't.

It's no loss to the world if we don't hear from you again. Dear Reader, the bottom line. If "DH" or any other WFG agent were on the up-and-up, if they were being totally straight with us, this person would have no fear whatsoever to give us his/her **real name.** Instead he/she chooses to remain anonymous on these boards and spread the Big Lie to *steal your money and time.* Don't let WFGers exploit you!

Thank you for reading.

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Anonymous
to William3 Los Angeles, California, United States #1288408

Hahahahahah!And who are you?

Who do you work for ? WFG competitors? Nice try!!

A well strategized policy will never lapse on the client earlier that he chooses and but the way, clients have the choice to make an IUL as powerful as they can afford it...The best product there is now for sure.

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