World Financial Group - Big Class-Action Lawsuit against Transamerica’s FFIUL? Can You Join?

18 of 251 World Financial Group reviews

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!

This review is a subjective opinion of a user.
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Value for money
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  • What I liked
      No items
  • What I disliked
    • Deceptive
    • Expensive
    • Few guarantees
    • Many risks

Reason of review:
Bad quality
Monetary loss:
Product or service
Transamerica Ffiul
Review category
Financial Services
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7 hours ago #1251185

"49SNS." Let's say you had the 'nads to give us your real name. Instead of some Inspector's tag code for a pair of $10 Chinese imitation junk Jordache jeans. "49SNS" if we knew your actual name and how to get in touch with you, a few of us might be willing to look past your WFG Playbook bulls*hit-and-run drivel.
Or maybe not. "49SNS" it's hard to believe a word you say when you don't even know what a "pyramid scheme" is. This FTC link:
www dot ftc dot gov/public-statements/1998/05/pyramid-schemes
makes it clear: "...Pyramid schemes ... promise consumers or investors large profits based primarily on recruiting others to join their program..."
So "49SNS" you're telling us then that "all businesses promise...large profits based primarily on recruiting others to join their program?" What parallel universe do you live in?
"49SNS" by the above FTC def, not even WFG *Corp* back in Johns Creek Jawja is a pyramid scheme. WFG *Corp* makes sure it stays a hairs-breath within the law, promoting 3/3/30, in which you sell at least as many products as you do recruit people. But WFG *agents* pushed us nonstop to recruit our *sses off. That's WFG's worst-kept secret. Even your EVC John Shin makes it crystal clear it's the duty for each and every WFG agent to recruit so much as to personally violate pyramid scheme laws, exposing themselves to Fed prosecution. Go to this vid...: www dot youtube dot com/watch?v=l2KsV61qn8s , John Shin MGM Grand Arena Convention 2015 ...and
... Show more

1 0 Reply

13 hours ago #1250960 Los Angeles, California, United States

So, let's say you work at a corporation. The owner of the business started at the bottom struggling to find the right people to help business grow. A person or slew of people see the good in this business and invests in it. The throng grows and grows until the guy at the top is making eight figures and those at the bottom five figures.
All businesses are then pyramid schemes.
WFG does not pay the Agents that get licensed to sell products. They get trained to help us find was of saving for our future. Many trusted businesses have joined with WFG to offer everyone IUL's, Annuities, other types of insurance, tax help, and debt relief.
I've seen nothing but happy clients and associates and if you don't understand and want to know about why they are who they are, find and office near you, find out when the next Presentation meeting is a check it out for yourself?
Tell them 49SNS invited you.

0 1 Reply

Oct 17 #1228140 Dallas, Texas, United States

I recently had some personal experience with this WFG. They are bunch of crooks cheating on those people who don't know how investment and insurance work.

4 3 Reply

Aug 26 #1203997

I think we have a game of WFG agents posting on 6 year posts so the most important complaints can go down the list..Facts are something they do not want shown...

15 5 Reply

Aug 06 #1195417 Mountain View, California, United States

This is bogus. I am a happy client with WFG/ Transamerica. I have retirement off of this iul because I worked with someone who knew how to structure them.
I am not a WFG agent. Never have been. I am a client.
Please stop referencing Transameric/ WFG as being a "pyramid scheme" or scamming people. Actually pyramid schemes are illegal in the United States. If there is a reference like this on the Internet, the state can press charges as it is a felony offense to make that claim. Please make sure you are referencing legitimate financial or government websites when doing research regarding WFG (World Financial Group), Transamerica, or Aegon as these will provide an accurate picture of the companies, their reputations, and their financials. Leave your contact information and I'll happily report you to the state.
- Happy Client.

6 28 Reply

Aug 06 #1195498

Well that's exactly what we want to if you please share your policy and it's structure(numbers) and how much you pay and your age.This FFIUL is a disaster that will cost you 50-60k a year if you live to see 80.What number did your agent work with to structure the way they can't structure your policy on a ffiul with different #'s with each client..they have a chart with parametres that are specific to a certain type of individual..based on age,sex,health,risks like(smoker..ect)..if it's different that's illegal as it would make the client succeptible to bias and profit by the if you tell me he charges you 2000$ a month and you will pay 1,000,000 to have a 500,000 insurance then I believe you but who's enough to do that??Another bogus post of an anonymous with absolutely no proof..
I've noticed since we are pushing hard to see the real #'s or contracts that the wfg agent are becoming silent and now it's the friends and clients coming in here.
IRONICALLY you the client should be the one that is glad we have your back...don't worry if it's great you will keep your ffiul.You seem to be very upset with something that you are happy with and common sense makes us think that normally this would be posted by an wfg agent that is scared about chargebacks...If not you the client look double check the math when you're 85.

20 4 Reply

Aug 06 #1195504

If WFG is such a wonderful company as you claim, then why do the uplines always tell new recruits to not mention WFG's name when they invite their potential new recruits? They don't want people to research WFG before hearing their recruiting spiel. Why if it is so great as you claim, are there so many negative posts on WFG?

20 3 Reply

Sep 13 #1212187 Berkeley, California, United States

S7, this review is all about how terrible xULs are, including Transamerica's FFIUL, WFG's flagship product. This involves xUL salespeople including WFG agents like YOU who routinely mislead people, costing them untold thousands of dollars and misery. S7, this is all you can think of to say? Absolutely pathetic.

8 1

Aug 06 #1195507

You have retirement off IUL? This is exactly what the agent wants you to think. Boy, are you in for a big surprise. Do the math...

17 2 Reply

Aug 06 #1195551 Berkeley, California, United States

Hello Mr/Ms No-Name:
You are from Who-Knows-Where--PissedConsumer lets you tell us any location you want us to think you are. You may or may not be a WFG agent. You make wild claims. You offer ZERO proof for all you say.
Let’s look at the d*mb things you say:
“...I have retirement off of this iul…” Your words are simply st*pid. The FFIUL is a life insurance policy. And a remarkably bad one at that. It is not a retirement plan. What in the world are you even talking about?
“...Please stop referencing Transameric/ WFG as being a "pyramid scheme" or scamming people…”
Mr/Ms No-Name from Who-Knows-Where. Please go to the 18 May review titled “10 Lies and Misreps That WFGers Tell You--And Themselves.” Then please go to Lie/misreps #3 and #4: "We focus on sales, not recruiting. We are not a ‘pyramid scheme’. " "If WFG’s such as scam, why hasn’t it been shut down?" These very clearly explain why what you tell us is wrong and/or totally irrelevant. The No-Name you tell us this whopper: “...If there is a reference like this on the Internet [that Transamerica/WFG is a pyramid scheme] , the state can press charges as it is a felony offense to make that claim…” Again your words are st*pid. N-Name where’d you get your law advice? Out of a bubble-gum machine? A fortune cookie? No I forgot. You got it from no-info fantasy-spinning agent/upline. Finally Mr/Ms No-Name from Who-Knows-Where, you ask us to “...Leave your contact information…” Uh, NO, No-Name. YOU leave US
... Show more

18 2 Reply

Aug 06 #1195580

Your first sentence is correct. This is bogus what you wrote.

11 1 Reply

Aug 07 #1195737

Anon, you should realize that you're fooling no one here. You posted on multiple reviews under a client identity and an agent identity, all around the same time, day and location. Which are you? You are clearly so irked that you have to play two personas to prove nothing. I'm going to reiterate what the other comments say. You provide absolutely no proof as to why anything from WFG and the FFIUL is good. We provide very legitimate arguments with numbers, facts, and reasons. We are not dumb; we know that pyramid schemes are illegal. Do you know why we say WFG is similar to a pyramid scheme? Because if you look at the FTC guidelines for a MLM/Pyramid scheme, WFG gets so many checks on the list if not all. It's the GOVERNMENT saying that WFG is a possible MLM/pyramid scheme and it's essentially true. Please read the detailed reviews by pulling off your blindfold first. "Oh but WFG isn't a pyramid scheme". In short, WFG only functions because it is barely legal. Emphasis on BARELY. It is clearly explained on reviews William3 referenced. And WHY would the state waste its resources to press charges on this claim as it really is just a concerning COMPLAINT/REVIEW and merely highlights that you can take action if you feel like you've been taken advantage of? So are you suggesting the state should press charges on every person that makes a complaint/review about a company and its practices even though it has validity? I guess the state might as well press charges on every former and... Show more

14 3 Reply

Oct 16 #1227760

You say it's a felony to claim a company is running a pyramid scheme. Please tell me any state where this is the case.

3 0 Reply

Aug 02 #1193525 Houston, Texas, United States

@William3. Had to post another comment this way since I couldn't simply reply directly to your previous statement.
I do agree it's very strange how both your review and liquid's got taken down but as long both of you stay active in posting useful informative reviews, then the message would at least stay alive for whatever duration before it gets taken down. Maybe you're right in that PC possibly thought it wasn't an actual complaint. I suppose the best approach is to highlight problems while providing solutions at the same time since your other reviews are still up as well as Liquid's. Simply a thought but I wouldn't know for sure since my review hasn't been taken down yet.
As for Jr Ewing, whether it was intentionally written in such a way or just to troll on a gimmick, just going on face value the review probably seemed like a troll review to PC. Like you said, it's improbable that a notorized letter or court order was sent to have it taken down. However, I do agree on substance that it highlighted very dark problems within WFG and affiliate companies in a very colorful fashion to say the least. If you still have the jr ewing review, maybe you can add/edit some things like your analysis then re-post so people can see it once again and it would look like and have real [legible] substance upon reading. Unfortunately we don't know why posts get taken down, but it might be a good measure to take.

10 1 Reply

Aug 02 #1193521 Hayes, Hillingdon, United Kingdom

William, there is another consumer site in the works..this site is ridiculous! There are 3 owners in New York with a staff of youngsters and I hope they fold soon...I can post something, alerting people to beware and that gets deleted and meantime, some tw@t posts insults and that stays.,.....Go figure!

10 0 Reply

Aug 01 #1193418 San Francisco, California, United States

Hi. This is Carol. I just posted this same comment under “World Financial Group – Lies, Money isn’t everything.“ But I wasn’t sure how often people go back to the older reviews to look for comments. Coincidentally, I received another call regarding the commission just now. I guess I’m the “go-to” person in trying to rescue a former friend from this MLM. So here goes….
I had a number of people ask me about how the commission is distributed among the upline over the last few weeks. I read the compensation and promotion guidelines and I have to say…I’m still a little stumped. I hope someone could simplify it for me. Here’s a scenario #1:
“A” (MD) brought in “B”. “B” did the 3-3-30 and made it to SA. “A” eventually got promoted to SMD. As a requirement for becoming an SMD…”A” had to give up either an MD or 2 SAs to “C”…I think it’s a EMD. “B” is now “mapped” (whatever that means) under to EMD. So if “B” (SA) makes a sale…does “C” get 65% or is it split between “A” and “C”…since “A” brought “B” in?
Here is scenario #2:
If “B” brought someone in and asks “A” to help finish selling the new recruit a policy…does “A” get 65% or does “A” get half of “B”’s commission? What does “C” get out of this scenario?
Any and all help would be so greatly appreciated.

1 2 Reply

Aug 01 #1193196 San Francisco, California, United States

There was a crazy review from a Jr. Ewing yesterday and todays its gone. By any chance did Liquid post a review this week that I might have missed? I know Liquid posted 2 reviews last weekend and 1 was removed. I’m hoping not to miss Liquid.

11 1 Reply

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