Interview With Alan Town - $22,752,532 In 2017 Final Expense Production

nfl72 said:
'Predominately black, highly uneducated people living in squalor.'

So what is your criticism? Presumably these policies paid out death benefits and helped the community that was being served, no? Isn't some insurance better than no insurance? Unless you can show that death benefits were systematically not paid out on these policies, I do not see the problem. If anything, companies like Mutual of Detroit served a community that otherwise was being ignored by the more "blue chip" type carriers.

DayTimer, 34 minutes ago Report Bookmark
#118


Serviced might be a better word. Why do you think they got shut down? It wasn't for good behavior. Cash values were missing left and right. I will give you just one example of what I saw with my own eyes, on a routines basis.

I ran a TM lead and when I got to her house she stated she already had a life insurance policy. When she said that I kind of figured it was a mutual MoD policy. I asked her how long she had had it, to which she replied 14 years. That number surprised me so I asked her how she could be so sure and accurate. She replied she bought the policy when her son was 6 months old and he is now 14 and a half. To me, That served as ample proof she knew what she was talking about.

According to her cash value chart she should have had around $4,400. When we called in her actual cash value was less than $600. This lady was organized. She had every single receipt in order going back to day one. Of course they were hand written receipts.

According to MoD's records she was rarely paying full payments. According to the receipts from the agent, she had never missed or made a partial payment. The agent was stealing the money. That type of policy is a license to steal, which is exactly what was going on.
Click to expand...

Was she receiving annual statements? The cash values would be shown there.
 
she was a black lady with no checking account, no job, living on welfare who could barely read or write. You know, the typical Mutual of Detroit client. She had no idea what cash value even was, until I explained it to her.
 
nfl72 said:
she was a black lady with no checking account, no job, living on welfare who could barely read or write. You know, the typical Mutual of Detroit client. She had no idea what cash value even was, until I explained it to her.
Click to expand...
Had nothing to do with the fact she was black but the other items explain a lot...She was probably on home service where the agent came by to collect which is a much higher premium due to commission paid to the agent for collecting and the poor persistence on the product. Doesn't surprise me that she didn't know about the cash value..Many FE presentations never mention the cash value.. They focus only on death benefit and premium.
 
rousemark said:
Most non par WL plans do not provide annual statements.. There is no need for iy as the table in the policy is guaranteed.
Click to expand...

What if the company decides it wants some of the Cash Values?




Sorry woke up at the as crack of dawn, 6am, for a 8AM service meeting. Well,,, I am only a week early. I almost even shaved.
 
WinoBlues said:
What if the company decides it wants some of the Cash Values?




Sorry woke up at the as crack of dawn, 6am, for a 8AM service meeting. Well,,, I am only a week early. I almost even shaved.
Click to expand...
They aren't available to them unless they are an assessment company..
 
You must log in or register to reply here.

Similar threads

J
Final Expense Direct
5 6 7
Replies
64
Views
2K
JTS1
J
M
Final Expense Leads
5 6 7
Replies
60
Views
6K
HomeService
H
A
Final Expense available for 84 year old New Yorker?
Replies
1
Views
223
SoCalAdvisor
S
T
Final expense and Term
2 3
Replies
27
Views
3K
Todd King
Todd King
Dale M Krause
A Funeral Expense Trusts Offer Many Advantages
2
Replies
13
Views
550
jdeasy
J

Latest posts

Back
Top