Carrie B Tuf

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer
| map-marker Fullerton, California

STATUS OF SUBPOENA SERVED ON 7/26/22

Please provide status of subpoena served 7/26/22 requesting personnel records on: Reggie Whitely aka Reginald whitely.
View full review

Preferred solution: subpoena records

Melanie E Lus

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer

Full access suspension on my account

World Financial Group - Full access suspension on my account
Its says please allow 24 hrs for my WFG to be restored following the completion of WFGIA renewals and all outstanding education requirements.
View full review
Pros:
  • Consistent motivation from team
  • American financial recovery and protection
  • Follow the system desire to help others

Preferred solution: Unrestricted access to my account

voice Dqd
map-marker Irvine, California

World Financial Group / Transamerica Financial Advisers, Learn the TRUTH

Do you want the truth about World Financial Group, now rebranding themselves as Transamerica Financial Advisers????? I was in the trenches with this company for many years and I know firsthand the truth behind this company. What do they really do? They sell you a dream. They are in the business of selling you a dream of financial independence. They sell the dream of having the income to support a better lifestyle for you and your family, to be able to spend more time with your family. To set yourself free of debt and never having to work again. To earn travel bonuses, Rolex watches, Super Bowl style rings, cars......etc. The Reality. You will become a professional meeting attender. You will spend even less time with your family. Be prepared to sit in meeting after meeting after meeting after meeting. Why??? Because you need to be trained. They will tell you to come to the office to get training on financial concepts and how money works. They will tell you enough to get you excited and that's the point. To keep you excited so you keep coming back and bringing more and more people to meetings and "big events". To keep you excited so that when you tell people about the "business opportunity" your true enthusiasm shows and they get excited and want to know more and agree to come to a "open house", "career night", "grand opening", "interview", "corporate overview", "business presentation meeting", "one on one", "group hiring interview". You will be instructed and encouraged to bring and solicit your "warm market". What's that??? Your friends and family, co-workers, people off the street.....whoever you know or meet, they don't care. Just bring a body to fill a chair in the "corporate overview, BPM" to hopefully get them interested enough to join or buy a product so that they too get excited and the whole "churning" machine keeps running. The problem with using your warm market is you will soon find that your friends and family will start to avoid you and may not even take or return your calls. Good luck with that. The WFG/TFA leadership will assure you that those who avoid you are the ones missing out and that you represent a "noble cause" and not to be discouraged. The Reality. Be prepared to spend all your time and money on meetings, seminars, self-improvement, getting licensed, rent, "plug in fees" and attending "Big Events". Big events are motivational seminars that parade a lot of people across a stage to receive recognition. That is awards, prizes, plaques, swords and sometimes even an actual check. As an observer to all this, you would think that these people are winning big time and making big money. Don't believe it for a second. This is a psychological manipulation and powerful marketing tool to keep on existing agents and recruit new ones. Most of these award winners are broke and pretending to be something they are not, making money they are not. Expect to be pushed beyond your "comfort zone". When you could be at home with your kids, you will be in meetings. When your spouse is home at night, you will be "in the field" doing sales presentations; most likely for skeptical people who can't afford the products you sell anyway. When you have no money, you will be pushed to attend the next "big event", you will be encouraged to "find a way", "go all in", "risk all to win all", "if you can't afford to be there, then you really need to be there", "if you miss this, it will be the biggest mistake of your life", "if you don't attend you will be setting your business back by at least a year" they are masters of manipulation. They will make you feel like a loser if you do not comply. Their psychological power of manipulation is very compelling. They instill an environment of brutal competition, pitting associates against one another for greater production in the "base shop" and the loser is often publicly humiliated and stands to lose money as a consequence. The reality is these "big events" cost a lot of money, offer little substance and are comprised of very little product training. There are several product providers that basically pitch you to sell their product. You will be expected to compete for seating that sometimes turns into pushing and shoving and battling for the first come first served seating. Some people try to reserve seats often winding up in heated arguments. Ridiculous. If you attend a big event be prepared for little sleep, hurried breaks, long winded testimonials from people that are misrepresenting the truth and a whole lot of pie in the sky dream selling. These people are masters of manipulation and intertwine their own religious beliefs to add to the perception of their conviction and belief in the business. Do not be fooled. Make them prove what they say. The Business Format System. This is the "Bible" of the business. The ideas are sound; in fact the whole business model of WFG is great. The compensation is fantastic. So here are some encouraging words and what had initially given me hope. Again, the business model is AWESOME. But unfortunately, it is only a model. Here is how it works. "The Law of Big Numbers". They will tell you that if you want to win big, then you will need to build a huge team, a "big base shop". They will tell you things like "get 10 and it's all over". They will show you presentations showing 10 agents with 10 sales at an average of $500.00 per sale will earn you $10,000 a month. Don't believe it. The numbers look good and it seems easy enough. Don't believe it. "Charge backs" What is this???? Basically, when you sell an insurance product the buyer has a "look over period" to decide if they want to keep the product. If the client cancels....and they often do; your commission is reversed. If your following month's sales are low; you will actually end up owing the company money. So, you spend all your time in meetings, study for days on end and pay to get licensed (you have to be licensed to sell insurance products ((with some exceptions)), then you take time away from your family to go on a "field training appointment", you pay for gas, wear and tear on your vehicle, sit in front of a skeptical couple, try to fit them into a product, overcome objections, fill out the application, if you succeed in convincing them in a product, submit the application.....hopefully it's all filled out correctly or it will be rejected, order and schedule a medical exam, submit to underwriting and hopefully your client does not get rejected. Are you still with me????? So hopefully your client is approved and gets a good rating so that they can actually afford the policy. You may need to show that the client has sufficient "discretionary income" to buy the policy. Congratulations!!!!.....the app was approved and the client is issued the policy. It's not over yet folks.....this is the simplified version....complex cases can require mountains of paperwork......Now you must deliver the policy to the client and you do. The client realizes the extra $400 a month is really cramping their lifestyle and is a burden. They cancel, you get a "charge back" and now all your time, effort and expense is down the drain. So you say, what happened??? Understand this...It's your fault. You wrote "bad business", "you're in the wrong market", "you oversold the client".....whatever it is, it's YOUR FAULT, even though you did EVERYTHING right. I'm telling you the psychological impact is overwhelming. When you get frustrated and want to quit you will hear things like, "mental toughness", "would you quit on your hopes and dreams", "quitters never win".....they will mess you up in the head so bad that you stay on, plugging away, going deeper and deeper into a very dark place. This is also part of the psychology surrounding building a team, a "base shop". Now you are directly responsible for those you have brought in under you and to the clients you have sold products to. Most people find it impossible to quit under these circumstances that they continue, regardless of their personal dilemmas. The Reality. Don't believe the hype....This is MLM. This may be your reality. Here are my suggestions. If you are approached as a client, take a look and compare companies, products, costs and services. The products WFG/TFA offer are legit and may be good for you. The problem is the sales person, in most cases, is not an expert and has just enough knowledge to pass the licensing exams. So don't think for a minute that you're in competent hands and dealing with an experienced industry professional. Understand that WFG/TFA will take ANYONE on as an agent as long as they do not have a felony or financial related criminal CONVICTION. Yes, a conviction. A person could have been arrested multiple times for anything and had the case dismissed or any circumstance not resulting in a conviction and they are eligible to become a WFG/TFA agent. WFG/TFA agents come from all walks of life. One WFG agent is currently (2011) awaiting trial for rape and assault while impersonating a police officer......so BEWARE!! This business attracts all types of people. Some are not so good. Truth, there are also A LOT of very good people. I have to give them credit. But in my opinion WFG/TFA need to raise their standards of who they accept BIG TIME!!!! If you plan to join the company as an agent; my words of advice are: ask A LOT of questions and be prepared to go around in circles in getting a straight answer. Ask to see tax returns of the people trying to portray themselves as millionaires.....they will sell themselves with such conviction and confidence that you should be equally assertive in having them prove it. You will be astonished at how many broke millionaires and outright liars you will find. Go in with your eyes wide open. WARNING: DO NOT GO FULL TIME NO MATTER WHAT UNTIL YOU ARE TRULY MAKING A LEVEL OF INCOME FROM WFG/TFA THAT WILL SUSTAIN YOU WITH A MINIMUM OF 6 MONTHS RESERVE. Understand that your life will be consumed by this business. Understand that the claims they make ARE TRUE......what???? Yes, the claims are true. There are people making big money......the truth is, VERY FEW......let me say again, VERY FEW. But maybe you are a "stud", and you are different and think you can rise against all odds and make it....some do. Good luck. I can only say that if I had been given the truth up front....I would have stayed with my $175K a year job and never, ever gotten involved with this company. There are some positives to WFG/TFA, there are things to be learned, but there is a cost. They tell you it's FREE education. Don't believe it. I have seen very little positive effect over the masses of people that filter through the company. The only positive effect, financially speaking, is for the top dogs. The people at the top of the organization. Their success is fed by the small people at the bottom. Consider this. The law of big numbers, tons of people "filtered" through the system. One product here, one there, a ticket here and there……multiplied by thousands and thousands all the while, small parts of those profits "rolling up" to the "up-line". Get the picture. The big fish are fed by the efforts of the small fish who dream of becoming a big fish. Good luck. I have seen a very few profit in riches beyond what most people can ever hope to earn. But this is only a very, very, very few. Not like 1 in 10. More like 1 in 100,000 and that is a conservative estimate. And it is maybe 1 in 1,000,000 that really hit it big. I have seen savings lost, families destroyed, foreclosures, bankruptcies, divorces, suicides, criminal activity, assaults, deceit, sexual harassment, credit cards maxed out, cars and other property repossessed, depression, despair, hopelessness, addiction, stress, stress related illness and all kinds of very bad things happen to good people all trying to fulfill this so called dream. It is a dream and for most will only be just a dream and nothing more. Unrealistic, unobtainable and understand the little fish only feed the bigger fish. No matter what success you have in the company, someone upstream (up-line) reaps the benefit of your hard work. Yet you alone will suffer the losses when they occur. Don't believe the hype. For all of those who have posted such positive comments about the company all I can say is......keep drinking the Kool-Aid. If my words help just one family stay together, prevent one divorce, separation, foreclosure, bankruptcy, suicide or other ill fated consequence.....well then my time was well spent here. I challenge anyone to refute and disprove my words....trust me; I know what I am talking about. I could name names, but in fairness, it is everyone's right and responsibility to make their own decisions. My biggest complaint / concern is that the WFG/TFA leadership is NOT telling the truth about what really happens. They are way too busy dream selling and not reality telling. I was successful with this company, but ultimately lost far more than I ever gained and it nearly cost me everything. My marriage, my home, all my money, my health, my sanity, my possessions, nearly all lost. I woke up just in time and I hope this helps anyone considering getting involved with this company. Bottom line, BEWARE. Forewarned is fair warned. Participate at your own risk and if you proceed remember you read this. I told you so.
View full review
347 comments
Guest

I can confirm from all the lingo that he's spent quite some time with WFG. I am still forming my own opinion but I agree that WFG is great and broadcasting their "exciting journey of becoming financially independent/a business owner"

Guest
reply icon Replying to comment of Guest-2229346

The original message is from 2011. WFG recently held a Convention both in Las Vegas and virtually.

One of the first days involved the Awards session, which is largely a parade of agents across a stage. One of the top earners made ten million dollars (1099) income, an Indian fellow who was a taxi driver when he first joined WFT about nine years ago. From there down came the parade of folks who had newly hit highs in their businesses. There wasn't time or space to congratulate the new $100,000 earners (and remember, there are a large number of earners who are making over $100K but under $250K, the next plateau, who won't be recognized until they actually hit that $250K figure).

There's absolutely no question that a huge number of people are doing well. That said, this is not an opportunity for everyone, and I'd venture to say that's true of 80% of the people who join WFG. The truth is that most bail; the process isn't easy or quick. But WFG is honest about how you build a business within the company.

The MLM aspect is more like that of real estate agents, and particularly brokers who house desks for a large number of agents and charge a percentage of each agent's commission. It's being adopted by more insurance and financial companies to supplant the "poaching" aspect of the old-school hiring practice, where competing firms offer incremental percentage increases in commission to agents with other companies who have a large current book of business. In WFG, promotions are merit-based. As a result, it's perhaps the best financial company for female agents, who are just as likely to be million-dollar (and above) earners as men.

The products are legitimate, the financial companies working with WFG are among the most prestigious on the planet (and there are a ton of them, some of whom have actually adjusted their programs to the WFG model) and the most well known. Most of the folks in WFG are honest and transparent about the time and effort required to ascend to the various Marketing Director and above positions, and the folks who are already there are available for consult and help.

Haniyah Gez

Ohh goodness! you really took time and wrote such a long list of why WFG was not a successful opportunity for you!

All I can say is not about the firm itself but how you perform and apply what you learn during all those trainings!!!!

of course you need training, in any other business you'll see the same, but what you have done with that knowledge???? if nothing then yes, you gonna be frustrated like this!

Guest
reply icon Replying to comment of Haniyah Gez

Ohh goodness! you really took time and wrote a bunch of drivel. Shame on you!

Guest

Thank you.

Guest

I earning more than your thinking and that what matter. If you want earn good money as well, please contact me.

Thank you for negative views, it shows we matter. :)

Guest

thx

Guest

Very helpful! Thanks for the warning you shared.

Guest

great advice. Thank you!

Guest

I totally agree. I was lured into it, but luckily i researched and took a step back.

Not everyone can be as honest as you. It was too good to be true to me.

View more comments (346)
ALIREZA M Rli

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer
| map-marker Omaha, Nebraska

World Financial Group Card

Hello, I was issued a credit/refund of $100 to my prepaid card, and the Merchant ID is wfg174**** I know the last 4 digits (7931), but I need the entire card number Who can help me obtain this information?? PLEASE REPLY. Thanks Ali Mirmiran
View full review
Loss:
$100

Preferred solution: Full refund

Anita N Ctt

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer

Commission

Hi: I would like to know how my commissions were calculated, since I feel I didn't receive the full amount that my upline had calculated for me. I called the customer service before, but did not receive any help from them. My Wfg id is: 17wwtc
View full review
Loss:
$200

Preferred solution: Commission explanation for WFG agent

Resolved
Sonja McRoy

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer
| map-marker Reynoldsburg, Ohio

Resolved: My id #

Updated by user Apr 11, 2022

I sent the review by mistake.

Original review Apr 11, 2022
Would you please send me my id #. I have forgotten it.I am an agent as of January 17 2022. Sonja McRoy
View full review

Preferred solution: Just reply wit id #

Harjeet S Rkx

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer
| map-marker Surrey, British Columbia

10ZBAC

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
10ZBAC my account is closed without reason. Fgknnbhjjnnvfdsruiijjgccnkkkyyfvbnkijhggvbnjhfsryijjbxddu gguiib gt7uih
View full review
Loss:
$150

Preferred solution: Full refund

User's recommendation: Dyuikbvh

Anonymous
map-marker Kissimmee, Florida

E&O fees

Hello, My name is Jorvanie Teo Donfack Dongmo, l' m currently an Agent. l receives a message from my mentor saying that l may be terminated if l don't pay my E&O. This time around things are a little bit difficult on me between school and some other stuff that l have to take care of, but l would like to know if l got terminated, when soon can l get back in the system?
View full review
Jazylet C

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer

I WANT A REFUND

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
My mom had recruited me and I was not aware that this had cost money at all. She led me on by saying would you like to help me start a business This is obviously not what i had in mind. There was never a clear explanation to what exactly she got me into. I thought initially this was a job interview. HA. After two meetings the agent had pressured me to pay the starting fee of $100 and when I asked for more details of what exactly im starting there was never transparency. Or a clear answer. He said Id have to pay to be educated. All the meetings were inconvenient and I wasnt at all interested but the aggression for sales sent alarms off in my head. My mom said its embarrassing to say no and to give him my card number. BIG MISTAKE. I want nothing more but my $100 back considering they cant refund my wasted time. I wasnt taught anything let alone receive a license.
View full review
Loss:
$100
Cons:
  • I feel having misled
  • Nightmare

Preferred solution: Full refund

2 comments
Guest

It's a MLM! Google them and run far away!

Guest

Ask your mom why she did it. Its not the company's fault. This is a very good company if someone is willing to work & is hard working.

View more comments (1)
Thanh L Gkr

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer

WFG = SCAM

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
To Whom It Might Concern and Anyone Who is Interested in Joining WFG: I joined WFG and followed the steps to create a profile and had access to WFG's platform. Had no idea with zillions of hidden fees until wanted to terminate my agent access and wanted to get out. I have never used the website to transact a single transaction on WFG's platform. When requested for the platform associated with my agent code to be terminated and closed down, hidden fees fell out from the dark and got updated/racked up overnight. THIS IS NOT ONLY UNETHICAL BUT ALSO SUSPECTED AS A SCAM AND ILLEGAL BUSINESS. When
View full review
Loss:
$176
Pros:
  • Degrading
Cons:
  • Waste of time money and energy

Preferred solution: Full refund

User's recommendation: IF YOU JOIN WFG- MOST LIKELY YOU WILL REGRET IT JUST LIKE ME

Thanh L Gkr

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer
| map-marker Dublin, California

POSSIBLE SCAM

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
Hello, To anyone of you have read this comment. I highly suggest you save your time and resources for something else. It could be *** of a SCAM in here with this WFG. You will be dealing with so much hidden fees and you will run for the hill.
View full review
Pros:
  • Degrading
Cons:
  • Worst customer service

Preferred solution: Apology

User's recommendation: DO NOT DO BUSINESS WITH WFG OR ITS ASSOCIATE - BE CAREFUL. COULD BE SCAM.

Anonymous
map-marker Haverhill, Massachusetts

A good opportunity to teach Financial Literacy to my Community

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
HappyWFG has availed me an opportunity to learn various personal financial concepts and pass on the knowledge to low income and immigrant communities. I feel that I finally found my purpose. To those that want to join sales thou, nothing good in life comes on a silver plate. Freedom of any type (include financial), has a price. either ha
View full review

User's recommendation: They have some of the best performing financial companies in the world.

Azel Gth
map-marker San Jose, California

Why the FFIUL--WFG’s Flagship Policy--is a *Disaster*

World Financial Group - Why the FFIUL--WFG’s Flagship Policy--is a *Disaster*
Please see attached the chart page from a Transamerica Financial Foundation Indexed Universal Life (FFIUL) policy. A California WFG agent sold this policy to a client earlier this year. Transamerica buries this very important chart deep down in its policy paperwork. This chart's numbers are Cost of Insurance (COI) charges. Carriers also call them Mortality Charges. For Universal Life (UL) policies--like the FFIUL--COI charges are a constant--and constantly growing--part of your monthly premium. At first these COIs look small and harmless. But when you add in their multipliers, they swell to enormous charges that threaten to destroy your policy. **If you live to your 80s and older, you can pay much more than your Death Benefit. How can that possibly make any sense for a policyholder to pay?! Let’s do an example together. You are a healthy non-smoking 35 year old male who buys this policy. You choose a $500,000 death benefit. Look in the second column on the left, titled “MALE MONTHLY COST OF INSURANCE PER $1,000.” Trace down that column to age 35. You see “0.09333.” This means that, at age 35, you pay $0.09333--a little over 9 pennies--per $1,000 of Death Benefit per month. “Gee, only 9 cents. Sounds low right?” Not so fast! First you need to multiply $0.09333 by 500. Why? Because you pay 9 cents just for each $1,000 of death benefit. Remember, you bought $500,000 of total Death Benefit. Thus you have to multiply $0.09333 by 500. That gives you a COI charge of $0.09333 by 500 = $46.67 per month. Then you have to multiply that by 12 to get your yearly COI charge. In this case $46.67 x 12 = $559.98 per year. See how it works? To calculate how much COI you have to pay each year, you have to multiply that year’s monthly COI charge by *6,000.* That’s 500 (for your total Death Benefit) x 12 (months in a year). 500 x 12 equals 6,000. Now all you have to do is go down the column and multiplying each year’s COI by 6,000. That’s Age 35: $0.09333 x 6000 = $559.98 Age 36: $0.09750 x 6000 = $585.00 Age 37: $0.10333 x 6000 = $619.98 …. Age 85: $9.98583 x 6000 = **$59,914.98** WHOA! What just happened there?! At age 85, you pay almost $60,000/year? Almost *$5,000 per month?* Indeed that's -over- $5,000/month when you add in all premium fees. I’m afraid it’s true! In your twilight years, your FFIUL becomes enormously expensive. So expensive, you are most likely forced to drop it and lose everything you put into it. Let’s make the math super easy. Let’s say you’ll die at age 85. All you need do is add up the COI charges from ages 35 to 85. Then multiply that by 6,000. It comes to $1.023815 x 6,000 = $614,289. Over $100k more than your Death Benefit. If you live to 90, it’s worse--MUCH worse. You pay $1,018,374. That’s over a -million dollars-. Twice as much as your Death Benefit. Wait. You pay over a million dollars for a $500k policy?? Again, how can that possibly make any sense for a policyholder to pay? Using this simple math I showed you here, please ask your WFG agent how the FFIUL can possibly make sense for anyone who expects to live even a reasonably long life. Please don’t let your WFG agent pass off your question with a vague claim that “your money will grow to cover this.” Please make your agent -prove- to you that your money's growth will cover these enormous late-life charges. Insist he use a hand-held calculator --NOT Transamerica’s Illustration software that can hide numbers and other data from you. Also very important: Ask your agent to do the math at 5% average annual Rate of Return which is close to the long-term stock index rates of Return. That’s very important. You don’t want your WFG agent to use the fantasy 8% and higher Rates of Return that less scrupulous agencies typically use. It’s almost certain your WFG agent will be at a total loss to defend the FFIUL by the numbers. In his May 25th 2016 review, author William3 lays out a compelling argument for why you'll wish to avoid this policy. It’s titled “World Financial Group - Plan to live a long life? Will your FFIUL--WFG’s “top” product--FAIL and leave you with NOTHING? I show you the MATH." If you bought the FFIUL, I urge you to follow the procedure that William3 spells out for you there. Do this before you meet with your WFG agent so you are fully prepared. Knowledge is power. WFG agents, if you see any problems with the reasoning and math I present here, please let us hear from you. Thank you.
View full review
Cons:
  • Concerns about transamerica ffiul policy
Reason of review:
Concerns about Transamerica FFIUL
179 comments
Guest

Do you know much about WFG? I am most interested in their training and sales practices. please contact me at smroth1010@***.com

Guest

This is an old post but continues to mislead many people regarding the Transamerica FFIUL. The Cost of Insurance (COI) chart that is in this post is related to the COI at the time of issue.

It does not reflect the COI as the policy owner ages; this COI is built into the illustration (i.e. a table that shows the premiums paid, cash accumulation, and death benefit for the life of the policy), that is provided by the insurance agent. For example: When an 85 year old is provided an illustration for a $500K IUL policy, the annual COI is (using the above math) = $9.98583 x 6000 = **$59,914.98** . This is correct, and when I illustrated this scenario, the annual required premium is actually close to $85K with the remainder going into the Cash Accumulation.

This makes sense because insuring an 85 year old is a very high risk proposition. The post misleads the audience into thinking that if a 33 year old purchases an FFIUL product, that the COI at age 85 is $59,914.98 - this is simply not true. The COI is built into the illustration and does not reflect any such dramatic increase. The illustration is part of the printed policy that is delivered to the client and has a required signature from both the agent and the client.

The Department of Insurance heavily regulates this industry, and does not allow any hidden fees or charges. Everything is transparent, and is included in the Policy Document.

The FFIUL has one of the best growth engines (it's Global Index account) with Principal Protection, Living Benefits (Long Term Care, Terminal and Critical Illness coverage), and a A+ rated insurance company backing it up. You cannot really go wrong with this product.

Guest
reply icon Replying to comment of Guest-1780403

@@@

Guest

The COI is just 1 problem on an FFIUL The fees IMO is outrageous. For Example 500 dollar premium for 750k coverage will cost you 1.

Policy Monthly Expense Charge per Thousand covered for the first 10 years= 16 cents per thousand insured. 750 x .16= $120 Dollars( I cannot find any info of how this is charged after 10 years) 2. 6% Premium Expense charge on a 500 dollar premium = $30 3. $12 monthy policy fee.

Summary: So Before your money ever gets invested into an Index you just lost 162 of your 500 dollar premium to fees and Commissions. That amount is equivalent to losing -32.4% a year. Then you have to pay Your COI.

The rest of the money gets invested in a index fund that charges .72% a year for fees(usually this same index can be bought for 0.01%). please clarify if i am wrong

Guest

Your math is incorrect. $1.023815 x 6,000 is $6,142 not $614,200

Guest
reply icon Replying to comment of Guest-1752753

That’s a typo you can easily find, the sum from 35 to 85 years old is $102.3815 so $6,142 is correct!

Guest

Your math is incorrect and padded

Guest

One thing they'll also tell you is that the chart shows "Maximum" monthly charges and that the insurance company NEVER charges the maximum. I wouldn't be willing to bet the farm on that.

Guest

We've been talking to a WFG (under the Managed Wealth Financial group name) agent in the last few weeks. This is very helpful and I will be (nicely) bringing this information in to talk to them this week.

Guest

Doesn't all insurance company Cost Of Insurance (COI) go up every year anyway? Regardless if it TransAmerica, Nationwide, Allstate, Farmers, State Farm, etc...... Also, can't I just take out my cash value on the policy and move it to somewhere else?

View more comments (178)
Alisi M
map-marker Santa Clara, California

Non refundable 100

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
Be aware no refund of 100 dollars I ask wat 100 dollars for he said background check and they They ask for your personal information so youre providing them $100 if youre not interested and theyre taking your personal information and God knows what theyre doing with it I request anybody reading this do not do it unless you wanna be on commission only no really have a great daythey ask for your personal information so youre providing them $100 if youre not interested and theyre taking your personal information and God knows what theyre doing with it I request anybody reading this do not do it unless you wanna be on commission only no hourly have a great day and if you day did you like me contact the labor department
View full review
Loss:
$100

Preferred solution: Full refund

victor a Abb

To get the money back

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
I paid in some money that I was supposed to pay and so was calling to request a refund. Unfortunately, they were able to link me to a live agent and i had to drop the call
View full review
Loss:
$25
Pros:
  • Nay
Cons:
  • Nay

Preferred solution: Full refund

User's recommendation: they are never going to link you with a live agent so don't waste your time listening to options.