A Win for the "Little Guy" regarding annuities.......

[FinanceDude]

JS Online: Annuity sales lead to penalty, restitution

Honestly, would you EVER buy a policy from "PYRAMID LIFE"??

 

[CitricAcid]

Funny article for me, don't expect too many people on this board to be too surprised however...

 

[Marquette]

I hear another annuity company was being sued by the Minnesota AG: Office of Minnesota Attorney General Lori Swanson

And a private party: Allianz close to settling class-action annuity suit

 

[73ss454]

JS Online: Annuity sales lead to penalty, restitution

Honestly, would you EVER buy a policy from "PYRAMID LIFE"??

I make it simple, I just wouldn't buy one....

 

[FinanceDude]

I make it simple, I just wouldn't buy one....

No life insurance, ever? Wow, you like living on the edge.........

 

[73ss454]

No life insurance, ever? Wow, you like living on the edge.........

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?

 

[FinanceDude]

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?

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..........

 

[73ss454]

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.

 

[ziggy29]

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..........

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.

 

[FinanceDude]

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.

Um, I used to work at NML, but thanks for the reminder..........

 

[FinanceDude]

FD, are you at a bar?

Darn, I wish I was..............must sound like I've been drinking........

I think maybe because of the low profit allowed in NY state the dealer could not mark it up as in other states.

I have NO IDEA why anyone would want to be a LI agent in New York...........

 

[HFWR]

A Win for the "Little Guy"

What would "the little guy" need with an annuity?

 

[FinanceDude]

What would "the little guy" need with an annuity?

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...........

 

[HFWR]

"The little guy" has another meaning...

 

[FinanceDude]

"The little guy" has another meaning...

Well, if we discuss that, we need the thread moved........

 

[Nords]

Well, if we discuss that, we need the thread moved........

... to a bar.

 

[FinanceDude]

... to a bar.

Viva Viagra...........

 

[Marquette]

From annuities to life insurance is bad to insuring your member to the bar and back again. This is a weird thread.

 

[FinanceDude]

From annuities to life insurance is bad to insuring your member to the bar and back again. This is a weird thread.

Sounds like a typical male thread to me..........