Monday, November 10, 2014

Ethical issue of buying life insurance your agent may not tell you..

Are you thinking about buying life insurance?   

Most Life insurance agents and companies will:
- Gladly take your money each month or years as you pay your premium
- Will try to sell you the best product they have for the best rate
- Be there for you when you are filling out all the paper work for your application
- Walk you hand and hand through the process

However, when it comes time to buy a larger policy or cancel the one you have because you may not need it, most life insurance agents run into an ethical issue.  They will not even think about telling you about life settlements; where you could get some of the money now for your policy vs when you were to pass. Although some agents don't even know the life settlement market exists, someone in their firm most likely does.

Please be aware of this terrible ethical issue.  

I recently learned of a woman that has been paying on her life insurance policy for years and she just bought a larger policy.  She still has her old policy and is thinking of just letting it lapse.  The life agent that sold her the larger policy cannot tell her that she could sell her policy in the Life Settlement market because he said : " I am unable to even mention that option to my clients per my company's compliance. We can have nothing to do with the buying of life insurance."  

You deserve to know all the details behind the Life Settlement market that they don't want you to know because it cost them money when they have to pay out life insurance polices. It cost them when they have to do what you are paying them to do. Most life insurance agents cannot tell you about Life settlements due to compliance of the company they represent as stated above.

Please give me a call if you have any questions. 

Michael Fillers, CPIA 
C - 251-753-8011
How I met JESUS in the flesh and HE saved me:
Matt 24:46-47
"Blessed is he whom his master will find at work when he arrives. Truly I tell you, he will put that one in charge of all his possessions."