New Reviewer
World Financial Group - Half-Truths and Outright Lies
Yesterday's anonymous "review" ( #109**** - * Sept 2017) is just another sad example of the endless WFG lies and deceptions. Gimme a break. Of course WFG plugs Transamerica products over all the others. The same company owns WFG and Transamerica! WFG built its...
View full review
View full review
10 comments
#1384010

"Anonymos" #138****. You tell us such vague things, your comment is worthless.

You don't even contradict me. Of course an WFG agent will write you a Nationwide, Voya, etc policy. That's better than not making any sale at all, right? But the WFG sales rep-licants sell these other vendors' products only AFTER they heavily flog on you Transamerica's disastrous wealth-destroying FFIUL and they fail at that.

Plus, IULs from the other publicly-traded carriers like Nationwide and Voya are similarly awful and nearly guaranteed to FAIL on you in a few decades, STEALING your death bennie and the $100,000s you dumped into those diabolical black holes.

"Anonymos," these bland airy meaningless things you say: "they will place you with a company that fits your financial need."--"all were completely satisfied"--"properly structured"-- this empty blah-blah of yours tells us absolutely nothing at all of value. To buy an IUL is not like eating at a restaurant where you very quickly realize your satisfaction or lack of it. By contrast, insurance policy clients won't know any better for decades as the slow-fuse time bombs they acquired tick away. They will usually feel a false sense of security that they bought something their clueless and/or unscrupulous WFG agents told them would provide for them in their old age.

Quite the opposite! These poor folks will only learn the terrible truth decades later when they age into their 70s and 80s and their IULs' skyrocketing Cost of Insurance (COI) charges chomp through their cash value, busting flat their IULs and leaving them with absolutely NOTHING.

"Anonymos" we're already seeing class-action lawsuits about this very problem with original Universal Life policies from the 80s. IULs are not substantially different from those original ULs.

Transamerica introduced the first IUL in 1997, 20 years ago. Try to find even *one* IUL that's still alive after only 10 years. I guarantee you won't find this policy!

It is YOU "Anonymos" who must research the facts (not just "your" facts like you say) and educate yourself!

I would, every time, take my chances with 401(k)s and other retirement plans that face a near certain loss of all my money with disastrous Universal Life policies.

Thank you for reading this.

View more comments
ID
#1098165 Review #1098165 is a subjective opinion of poster.
Cons
  • Legal scam
  • Fraudulent
Reason of review
Bad quality
Loss
$5000
Preferred solution
Full refund
New Reviewer
If a WFG rep pitches this "biz opp" to you and tries to sell you an FFIUL life insurance policy--this MLM's flagship product--please ask him a simple question: "What annual return rate do you illustrate the FFIUL?" That's the rate the FFIUL your agent *estimates* it...
View full review
View full review
5 comments
#1687164

I was just amazed how ignorant and stupid some people might be while still trying to pretend they know what they actually have absolutely no idea about. S&P 500 index return is public data and you can find it anywhere online easily.

The average annualized total return for the S&P 500 index was 10.2% over the past 50 years 11.4% over the past 40 years 9.3% over the past 30 years 4.9% over the past 20 years 11.7% over the past 10 years Above return rate is based on S&P 500 index data by December 2018. Yes, the return over the past 20 years was low, 4.9%, mainly because it suffered from 2 major market drops (2000-****, and 2008).

Nowadays even a dog can type and *** online. I'd also like to offer you a preferred solution: get a life and talk about something you actually know.

View more comments
ID
#1072269 Review #1072269 is a subjective opinion of poster.
Location
Pleasanton, California
Cons
  • Hugely deceptive
  • Outright scam
Reason of review
Bad quality
Loss
$10000
Preferred solution
Full refund