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A Win for the "Little Guy" regarding annuities.......
06-17-2008, 09:30 AM
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#1
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Give me a museum and I'll fill it. (Picasso)
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A Win for the "Little Guy" regarding annuities.......
JS Online: Annuity sales lead to penalty, restitution
Honestly, would you EVER buy a policy from "PYRAMID LIFE"?? 
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Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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06-17-2008, 09:59 AM
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#2
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Full time employment: Posting here.
Join Date: May 2008
Posts: 546
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Funny article for me, don't expect too many people on this board to be too surprised however...
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06-17-2008, 10:05 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 2,020
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06-17-2008, 12:29 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,698
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 Quote:
Originally Posted by FinanceDude
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I make it simple, I just wouldn't buy one....
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06-17-2008, 01:53 PM
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#5
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Give me a museum and I'll fill it. (Picasso)
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Quote:
Originally Posted by 73ss454
I make it simple, I just wouldn't buy one....
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No life insurance, ever? Wow, you like living on the edge.........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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06-17-2008, 02:11 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,698
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Nothing from ins companies unless I have to have it like car or home ins.
No annuities, life ins I still have but don't need.
I was sold 3 whole life policies in my life. The first 2 ended up in a class action suit and I later cancelled the policies and received money under the settlements.
A few weeks ago I received a check for $31500 from Mass Mutual for the class action suit against the last policy I still hold. Do you think that since I had 3 policies and they all ended in class action suits that the ins companies and the salespeople did the right thing.
Ya think maybe I should go out and get an annuity now so I can be part of another class action?
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06-17-2008, 02:42 PM
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#7
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Give me a museum and I'll fill it. (Picasso)
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Quote:
Originally Posted by 73ss454
Nothing from ins companies unless I have to have it like car or home ins.
No annuities, life ins I still have but don't need.
I was sold 3 whole life policies in my life. The first 2 ended up in a class action suit and I later cancelled the policies and received money under the settlements.
A few weeks ago I received a check for $31500 from Mass Mutual for the class action suit against the last policy I still hold. Do you think that since I had 3 policies and they all ended in class action suits that the ins companies and the salespeople did the right thing.
Ya think maybe I should go out and get an annuity now so I can be part of another class action?
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Didn't you sell credit term and disability on your car loans while in F&I?? As far as no life insurance at all, I'm happy you beat the odds, but I doubt DW or my kids would like me running with no life insurance.........albeit I do have large amounts of term..........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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06-17-2008, 04:05 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,698
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FD, are you at a bar?
I said I have life ins. reread. Also that I don't need it at this point.
We did not sell disability or life ins at the dealership. In NY state it's frowned upon and my dealer didn't offer it. I think maybe because of the low profit allowed in NY state the dealer could not mark it up as in other states.
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06-17-2008, 04:20 PM
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#9
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Give me a museum and I'll fill it. (Picasso)
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Location: North Oregon Coast
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Quote:
Originally Posted by FinanceDude
As far as no life insurance at all, I'm happy you beat the odds, but I doubt DW or my kids would like me running with no life insurance.........albeit I do have large amounts of term..........
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If you are single and have no dependents, OR if you have a large enough nest egg that your death will not cause financial hardship due to loss of income, you don't *need* life insurance.
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"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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06-17-2008, 08:39 PM
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#10
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Give me a museum and I'll fill it. (Picasso)
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Quote:
Originally Posted by ziggy29
If you are single and have no dependents, OR if you have a large enough nest egg that your death will not cause financial hardship due to loss of income, you don't *need* life insurance.
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Um, I used to work at NML, but thanks for the reminder.......... 
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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06-17-2008, 08:40 PM
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#11
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Give me a museum and I'll fill it. (Picasso)
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__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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06-17-2008, 08:41 PM
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#12
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Give me a museum and I'll fill it. (Picasso)
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Location: Lawn chair in Texas
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Quote:
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A Win for the "Little Guy"
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What would "the little guy" need with an annuity? 
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Have Funds, Will Retire
...not doing anything of true substance...
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06-18-2008, 08:12 AM
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#13
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Give me a museum and I'll fill it. (Picasso)
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I was referring to the fact that most investors find little or no recourse when an insurance company uses questionable sales practices to whitewash investors...........
MANY retirement plans are annuities, so a LOT of little guys own them...........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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06-18-2008, 10:58 AM
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#14
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Give me a museum and I'll fill it. (Picasso)
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Join Date: May 2005
Location: Lawn chair in Texas
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"The little guy" has another meaning... 
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Have Funds, Will Retire
...not doing anything of true substance...
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06-18-2008, 11:03 AM
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#15
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Give me a museum and I'll fill it. (Picasso)
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Well, if we discuss that, we need the thread moved........ 
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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06-18-2008, 12:02 PM
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#16
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06-18-2008, 12:14 PM
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#17
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Give me a museum and I'll fill it. (Picasso)
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Quote:
Originally Posted by Nords
... to a bar.
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Viva Viagra...........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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06-18-2008, 12:31 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 2,020
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From annuities to life insurance is bad to insuring your member to the bar and back again. This is a weird thread.
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06-18-2008, 01:48 PM
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#19
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Give me a museum and I'll fill it. (Picasso)
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Quote:
Originally Posted by Marquette
From annuities to life insurance is bad to insuring your member to the bar and back again. This is a weird thread.
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Sounds like a typical male thread to me..........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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