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11 Responses to How come these companies like metlife, prudential, and new york life, are allowed to ripp people off?
Weatherman
March 8th, 2010 at 1:30 pm
They don’t.
Take your personal problems somewhere else
dale
March 8th, 2010 at 2:13 pm
Rip off is your opinion. These companies provide a service that many people want and need, otherwise they’d be out of business.
aeth3rs
March 8th, 2010 at 2:37 pm
Because they can.
Munya Carr
March 8th, 2010 at 3:30 pm
although you are entitled to your personal opinion, by making a broad sweeping statement such as the above, you could possibly find yourself on the wrong end of a summons, brotha!
DickJoy
March 8th, 2010 at 3:40 pm
Insurance is a highly regulated business and insurance companies are always under scrutiny. In most states companies are only allowed a certain percentage of profit per year, and if they exceed that profit, they must refund money to their policyholders in one way or another.
Insurance coverages are often misunderstood. There is no way an insurance company can reverse a situation and make it “like it never even happened” without cooperation from the policyholder.
Each state has a Department of Insurance in place. If you feel you have been cheated, ripped off, or treated unfairly, I would suggest you submit a formal complaint to your state’s insurance department. Go to your state’s offical website (.gov) and there should be a link to the insurance department. They will investigate your complaint and respond, usually with results in 30-60 days.
jooker
March 8th, 2010 at 4:05 pm
They don’t. If you don’t want to buy insurance, don’t. Your call. If you do buy it, you must see some value in it. Therefore, it must not be a rip off.
derek
March 8th, 2010 at 4:56 pm
Sounds like somebody goofed up and bought something they didn’t understand and now they want to blame somebody.
fryeguy93
March 8th, 2010 at 4:57 pm
Derek has a great answer….
Why don’t you tell us what happened…we’ll make fun of your lack of understanding of insurance, and then we’ll all be happy without throwing out generalaties against 100 year old companies….and those with 5th grade educations.
Bright Future Penguin
March 8th, 2010 at 5:18 pm
Hi, your friendly insurance guy here again.
It sounds like you had a bad experience. You did not elaborate on what it was, so we really can’t respond specifically to it. I hope the negative posts will not discourage you from re-posting and providing more detail, in a clear and well written form, so we can understand your situation and respond more helpfully.
seeitmiway32
March 8th, 2010 at 6:06 pm
They’re not the only ones. How do you think they get so rich, and pay agents so well?
Joe the Expert
March 8th, 2010 at 7:03 pm
They don’t Rip anybody off!
They provide valuable products that provide real solutions for people.
It’s up to you to shop around for the best policy at the best price from Quality companies for your own situation.
That is why you should Only use an Independent Agent!
A Good Independent Agent has access to the majority of the companies that offer insurance products and can help you shop for those policies that best fit your situation.
Career agents are pressured to sell the one company they represent. They must produce annual minimums each year and can lose their job if they don’t. How can that be good for you?
A Good Independent Agent does not have any pressures to sell any one company. All of the companies he deals with does NOT subject him to minimum production.
Now due to the Internet, Email, 800 Phone #’s and Federal Express you can Deal with a Highly Professional, Very Experienced Independent Agent right from your home with No face to face meetings from most States in the USA. The best way to shop for and Buy Life Insurance of $1 Million+, Fixed Annuities, etc., etc..
Go to http://www.joesalvemini.com snd see for yourself.