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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 what a good investment it is because they ALL get a piece of the pie.

Just remember this is not an investment. Expect that 50% of your premium goes to the company/agent...........not in your so-called investment account. Don't Walk...........RUN from this company.

The company could care less if you cancel as they get most of their profit in the first few years.

Reason of review: Problems with payment.

Location: Bethlehem, Georgia

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Prudencio Zlt

Fort Lauderdale Anon. Thank you for inviting us to โ€œask question and be inform.โ€

Anon letโ€™s take a look at each of your statements.

First Anon you say โ€œ...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 Fedโ€™s study titled, โ€œWhat do U.S. life insurers invest in?โ€: 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: โ€œ...In the case of terminal illness or disability you can access up to 80% of the face value amountโ€ฆโ€ 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 โ€œ...disabilityโ€ฆโ€? 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.

Guest

I would argue differently. In your case, your policy covered you every day you have it.

in life policies you cover yourself in case you have a terminal illness, permanent disability or death. In the case of terminal illness or disability you can access up to 80% of the face value amount. If you die your family left behind get the full face amount or the rest of amount left of your death benefit. But guest what you have car insurance where you pay every month right and you never get a penny back after years of paying.

I don't see you complain about that. However 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. I would advise you to inform yourself more about life insurance. It is not an investment like putting money in the stock market.

It is an investment to protect yourself and your family in the cases I mentioned earlier. Again ask question and be inform.

Thank you.

Guest
reply icon Replying to comment of Guest-1219728

Okay Ft. Lauderdae Anonโ€ฆI would agree with you if this is just life insuranceโ€ฆpure and simple.

But we all know all-to-well that WFGers push these policies on as an investment vehicle and retirement plan. Their glorified 7702 plan is just life insurance. So same scenarioโ€ฆ 5 years of paying $300 a month paying almost $20,000 with only a cash surrender value is less than $6,000.

What is your argument and defense to that?

Prudencio Zlt
reply icon Replying to comment of Guest-1219728

Ft Lauderdale Anon. Thank you for inviting us to "ask question and be inform." Will you please tell us names of the policies you refer to?

And which carrier(s) issues these policies? Thank you.

Guest
reply icon Replying to comment of Guest-1219728

To Ft. Lauderdale Anon: Just an an FYI ...

a car loan payment is not the same as a life insurance. It's a car loan!

And you spelled guess wrong! You spelled it as guest.

Prudencio Zlt
reply icon Replying to comment of Guest-1219728

Ft Lauderdale Anon. You told us to "ask question and be inform." Well, we're asking you questions.

Starting two days ago. Will you answer them Anon? Or will you prove to be just another one of the many WFG trolls out there who stages bull*hit-and-runs here on this forum and elsewhere? A WFG ***-artist who doesn't mean a single thing he says?

Anon, if we don't hear from you, we'll know the answer. Thank you.

Guest

I don't trust anybody from WFG to handle my finances since they all think they're great financial advisors based on no real education. They think by passing some *** insurance exam that needs a minimum pass score of 60 percent, they know better about your future than you do.

Guest
reply icon Replying to comment of Guest-1216973

I lost my marriage over this cult

Never never join wfg cause before brainwashing ends u will be a broken family and at a point of no return

Prudencio Zlt

AND WFG agents cluelessly sell this super-costly radioactive *** to their *friends and family.* Just unreal.

WFGers don't "help families." WFGers *cannibalize* their own families.

WFG is a terrible destructive *cancer* that eats families alive.

Guest

True story. Only a good investment if you consider it your "cost of doing business" so you can justify selling it to others. That's how this business works.

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