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

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.
Report Comment Private message author

More Review Details

Product or Service Quality
Additional Fees
Interest Rate
Privacy and Data Security
Customer service
Diversity of Products or Services
Advertised vs Delivered
Price Affordability
Discounts and Special Offers
Billing Practices
Value for money

  • 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
review #892272 by
Had an experience with World Financial Group? Submit review ›
Helpful? 48 Yes 48 2 No 2
Had the same issue 0 Yes 0
Comment as anonymous As anonymous or Log in
OR Is it your business? Respond to your
customers as verified company representative.
Apply for a Free Plan

Oct 17 #1228140 Dallas, Texas

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.

3 1 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...

12 3 Reply

Aug 26 #1204146 San Jose, California

Or maybe one WFGer posing as many?
Or maybe just a Russian professional troll that an EVC or EMD pays to do his dirty work.

11 2 Reply

Aug 06 #1195417 Mountain View, California

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.

5 24 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.

15 3 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?

15 2 Reply

Sep 12 #1211727 Phoenix, Arizona

Our uplines don't tell us that twit

0 7 Reply

Sep 13 #1212187 Berkeley, California

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.

4 0

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...

12 1 Reply

Aug 06 #1195551 Berkeley, California

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

14 0 Reply

Aug 06 #1195580

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

10 0 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

12 2 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.

2 0 Reply

Aug 02 #1193525 Houston, Texas

@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.

9 0 Reply

Aug 02 #1193521 Hayes, Hillingdon

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!

9 0 Reply

Aug 01 #1193418 San Francisco, California

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 1 Reply

Aug 01 #1193196 San Francisco, California

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

Aug 01 #1193344 Houston, Texas

I saw that same review, but it probably got taken down. I have not seen any reviews from Liquid as of late other than the last 2. Hopefully he continues to provide more materials.

10 0 Reply

Aug 01 #1193414 Berkeley, California

Anon, @Kaien, I noticed that too. In fact I'd just posted a comment to JR Ewing last night at midnight. Then a few minutes later--*POOF.* Evidently PissedConsumer blew it away. Review and comments.
Indeed it’s the latest in a string of disturbing actions on this board by the site managers. Which triggers my long comment here.
As some will remember, months ago I started saving all comments on this board when I started to see how they go *POOF!* on a whim. There was a pro-WFGer who actually claimed that complaints boards like Pissed Consumer blow away certain comments if the offended company paid to have them removed. I couldn't believe it at the time, it seemed so outrageous. But when PC started blowing away dozens of anti-WFG comments *en masse* that's when I had to admit it could be true after all. I got the message. I started saving all comments. Mine and others.
At that time, I still believed PCs FAQ about the near sanctity of reviews. These FAQ imply our reviews will stand **no matter what** except for Court orders and authors notarized request to remove them. Nonetheless, my FFIUL review disappeared back in May for no proffered reason. Maybe it was a court order. I don’t know. No-one told me anything. I got the message again--I started to save all reviews as well. Fortunately I saved JR Ewing’s review to moment I saw it. It was that unusual. I also had a feeling it might not be around long.
JR was one of the more colorful people to post here. And
... Show more

11 0 Reply

Aug 01 #1193472 Houston, Texas

Perhaps it's not the 'abusive' language or the opinion itself within Jr Ewing's review. While I personally agree that he has a terrible stance and has a right to it, maybe it got reported quite a bit for it's troll-like nature and was taken down for it. Considering the way Jr Ewing portrayed his stance with nonsense English grammar and spelling while imitating some redneck-type speech pattern about taking advantage of people, it might be possible it was taken down for that reason. I can't say much about the other missing reviews and comments since I'm still relatively new to PissedConsumer, but it would be my best guess why it was taken down.

9 0 Reply

1-20 of 25 comments

Great comment! Would you like to convert it into review?

You will be able to edit the text before publishing.

× You are about to contact

Review submitted through "Contact Us" will not get published on the site or forwarded to World Financial Group. However, many companies do monitor reviews on our site.

You were reading a complaint about World Financial Group.
Filing a new complaint about