New zero premium life insurance policy/life settlements

[standingtall]

Who Is The Carrier?

Sorry if it is somewhere in here, but the thread got too long for me to read EVERY post. Did we ever find out who the carrier is?

 

[Guest]

InsuranceChick knows, ask her. See her post #321:

Got the name!
Quote:
Originally Posted by insurance0707
Any word yet on who the insurance company is going to be????

I just got the name of the insurance company about 20 minutes ago. I know you'll hate this, but I can't release it yet until next week. I have 3,000 agents already signed up and they told me they will cancel my contract it I release it before they do.

But you all will recognize the name. The mood at the office has changed from a sign-up mode to a "production" mode, so it is coming....


Good luck everyone!

 

[midwestbroker]

Heads Up -

In efforts to keep information flowing, I would like to propose a new thread that only deals with the facts of this program.

We are looking for information about:
Who the carrier is
Who is funding the program
What the underwriting consists of
And any other specific information you might have regarding this program

"Double secret probation" posts, like I know who the carrier is but I cannot tell you will be deleted, along with any other recruiting posts. There are enough people here offering to recruit you in this one.

Basically, keeping this post open to comments and a new one for facts only.

What are your thoughts on this? This way people who want the facts do not have to scroll through 500+ posts.

 

[Guest]

Maybe put a locked "sticky" post with just the facts (that have already been gathered in a recent post) and add to it from this thread as new info becomes available? My $.02

 

[STIBROKER]

then the new thread will evolve into one like this....besides it would be a one post thread.....no info yet......

 

[midwestbroker]

A sticky would would, as long as we have the info. Like STI said, there is nothing to report, and I am sure it would evolve, but it would be easier then looking though the 500+ here.

 

[sman]

i am in GA and maybe can help with information - The group that i signed up with is The Financial Marketplace - the website is www.zeropremiumfinalexpense.com - you can go to this site to sign up and get contracted - there are two parts - part 1 = Contract info to Financial Marketplace for commission payment - must printout and fax in

part 2 = sign up for contract with Miracle Insurance Group (exclusive agent for this product )

So Dallas, since you're "signed" up, tell us what carrier you contracted with. Oh wait a minute, no one knows the carrier. Then how in the world can you be "signed" up? You will still have to complete the contract with the carrier and wait on that to go through before you can "sell" the product.

 

[Crabcake Johnny]

$10 per agent to "enroll" and you get 1,000 agents = $10,000 in your pocket. If it's a go then great. If it's not a go I doubt refunds will be given and someone will walk away from with thousands.

It could be the world's most perfect scam.

 

[pat77]

I was on the call today and found a lot of info. It is a 5 question ap. It can be done over the phone. It uses a loophole in the insurability requirement. The insurance company has 83 billion dollars in place for just the first 3 months alone. They are a fortune 500 A+ rated company. The investor has trillions to put into this. They will be in all 50 states. It is a simplified issue UL. Derrold Nash the moderator has been a broker for over 30 years and has helped developed products for other companies. He has known Ali for quite some time and said he is not what some are making him out to be. There are a lot of false reports out there. There is no truth to Ali not rolling this out until they have 100,000 agents etc. All I know, is I liked what I heard from Derrold. He sounds sharp and took a long time to just answer questions. In fact, he is still answering them and the conference call only lasted about 10-15 minutes. I personally asked about 5 questions and my wife asked one as well.

 

[insurancechick]

Answers

I've been wondering how they can justify this. And if they claim that its West Coast Life, a lot of agent here are already appointed with WCL and should be able to offer the product if they really will carry it. Why should these agents still sign sign up with Miracle?

The answer to this question is very revealing and will hopefully open a lot of eyes.

These agents would still have to sign up with Miracle, because Miracle is the one who spent three years developing this deal with the carrier and the financial institution. So if it were WCL for example, and you were appointed with WCL, you very well could go ahead and write the exact same product if you had the investor and all the necessary work done ahead of time to get that program cleared.

Miracle took time and expense to develop these relationships and this program, which is why they are (and deserve to be) paid for doing so. Any one of you could use some ingenuity and work a creative deal to drive more business to a carrier. That is exactly what Miracle did, exactly why the insurance company doesn't mind (they should be thrilled - they are generating MUCH more business and getting MUCH more money to hold now (Time value of money people) than they would have). They are paying the commission to Miracle (which is who you contract with, not the carrier itself), just the same as if it were a straight premium case, and Miracle is paying you (very well) for simply finding the business for them.

Now do you start to see what is going on? If you had spent 3 years developing this, would you want to tell everyone your company secrets and risk losing all the work you had spent to develop the program? OF COURSE NOT.

Miracle got creative, found a program that would work and that nobody was doing, that would be a win/win/win/win, took the time and effort to do all the research and due diligence, is signing up agents, and will soon release the program.

If any of you want to come up with your own program, you are free to do so - this is the United States. Let's not fault Ali or Miracle for trying to find ways to make them money, you money, and make a tremendous amount of numbers of seniors VERY happy who otherwise might not have had a DIME to pay for a funeral/burial.