http://howtostayafloat.com/2009/12/mortgage-life-insurance-is-a-ripoff.html/#utm_source=feed&utm_medium=feed&utm_campaign=feed Your money, your life Thu, 05 Jan 2012 07:16:29 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://howtostayafloat.com/2009/12/mortgage-life-insurance-is-a-ripoff.html/#comment-75 Emmy Fri, 15 Apr 2011 02:45:41 +0000 http://www.howtostayafloat.com/?p=150#comment-75 I'm not easily ipmrseesd. . . but that's impressing me! :) I’m not easily ipmrseesd. . . but that’s impressing me!

]]> http://howtostayafloat.com/2009/12/mortgage-life-insurance-is-a-ripoff.html/#comment-74 Hand Winch  Tue, 19 Oct 2010 07:49:56 +0000 http://www.howtostayafloat.com/?p=150#comment-74 i really do not like to mortgage any of my property, mortage sucks anyways:,: i really do not like to mortgage any of my property, mortage sucks anyways:,:

]]> http://howtostayafloat.com/2009/12/mortgage-life-insurance-is-a-ripoff.html/#comment-73 Kyle Sat, 06 Mar 2010 19:07:35 +0000 http://www.howtostayafloat.com/?p=150#comment-73 I totally agree. These policies are a rip off. When I got into the insurance business I was roped into selling these things. About 4 months in I quit selling them, becasue I actually analyzed the COI per unit and realized you do pay 4 times as much. All of the other bells n whistles just aren't that great. The limited disability is a joke, the terminal illness riders are a joke, etc. I would advise clients to go fully underwritten. The plus side is that if you dont want to take a paramed, then I guess it's a deal. Some coverage is better than no coverage. Since then I have dedicated my life to actually helping people solve their retirement problem. I enjoy that much more and the message and strategy is incredible. I couldnt sleep at night knowing I was selling that crap. Besides, typical mortgage life insurance agents are only concerned with turning a lead into commission. Trust me, I know--I was part of an outfit that sold this crap and all they talked about is how much premium did you write, how many calls did you make, How many people did you sell--not help-sell. They always coached you up on at least selling the customer something whether it was "critical period" life insurance which meant just multiplying their mortgage payment by 48 months and selling them on , "At least you can leave your loved ones with 4 years of mortgage payments" etc. Seriously, Mortgage protection life insurance guys are no different than used car salesmen. They suck and they dont even understand the true power behind properly structured life insurance--they just want to make a sale--they make me sick--they give life insurance agents a bad name. I am glad and I am ashamed that at one brief point in my career I was part of that low-life group. Hey we live and we learn. I wish the NAIC would reccommend to state comissioners to band mortgage life insurance. I totally agree. These policies are a rip off. When I got into the insurance business I was roped into selling these things. About 4 months in I quit selling them, becasue I actually analyzed the COI per unit and realized you do pay 4 times as much. All of the other bells n whistles just aren’t that great. The limited disability is a joke, the terminal illness riders are a joke, etc. I would advise clients to go fully underwritten. The plus side is that if you dont want to take a paramed, then I guess it’s a deal. Some coverage is better than no coverage. Since then I have dedicated my life to actually helping people solve their retirement problem. I enjoy that much more and the message and strategy is incredible. I couldnt sleep at night knowing I was selling that crap. Besides, typical mortgage life insurance agents are only concerned with turning a lead into commission. Trust me, I know–I was part of an outfit that sold this crap and all they talked about is how much premium did you write, how many calls did you make, How many people did you sell–not help-sell. They always coached you up on at least selling the customer something whether it was “critical period” life insurance which meant just multiplying their mortgage payment by 48 months and selling them on , “At least you can leave your loved ones with 4 years of mortgage payments” etc. Seriously, Mortgage protection life insurance guys are no different than used car salesmen. They suck and they dont even understand the true power behind properly structured life insurance–they just want to make a sale–they make me sick–they give life insurance agents a bad name. I am glad and I am ashamed that at one brief point in my career I was part of that low-life group. Hey we live and we learn. I wish the NAIC would reccommend to state comissioners to band mortgage life insurance.

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