Author Topic: Newborn baby girl in New York life insurance deal!  (Read 81702 times)

Offline yos9694

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2012
  • Posts: 1903
  • Total likes: 899
  • DansDeals.com Hat Tips 6
  • Gender: Male
    • View Profile
Re: Newborn baby girl in New York life insurance deal!
« Reply #20 on: December 01, 2015, 09:53:45 PM »
9% and guaranteed...i call Bravo Sierra. Back up a trailer and load me full.

It would also violate NY State regulations.

Offline Aaaron

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jan 2012
  • Posts: 1360
  • Total likes: 39
  • DansDeals.com Hat Tips 3
    • View Profile
  • Location: Baltimore
Re: Newborn baby girl in New York life insurance deal!
« Reply #21 on: December 01, 2015, 09:53:51 PM »
I literally just had a meeting tonight with my financial planner about my DI policy and they had worked up a LI policy for my 4.5 year old.  The cash value amount broke even after 20 years.  I have a hard time believing the figures here.

Offline unavailable

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Dec 2013
  • Posts: 545
  • Total likes: 20
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: bp
Re: Newborn baby girl in New York life insurance deal!
« Reply #22 on: December 01, 2015, 09:55:24 PM »
Are you using sock puppets? I'll PM you my email address.
No idea what sock puppets are.
Still waiting for pm

Offline yos9694

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2012
  • Posts: 1903
  • Total likes: 899
  • DansDeals.com Hat Tips 6
  • Gender: Male
    • View Profile
Re: Newborn baby girl in New York life insurance deal!
« Reply #23 on: December 01, 2015, 09:58:25 PM »
No idea what sock puppets are.
Still waiting for pm

3 minutes after my post and you say you're still waiting....  ::)

Offline yos9694

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2012
  • Posts: 1903
  • Total likes: 899
  • DansDeals.com Hat Tips 6
  • Gender: Male
    • View Profile
Re: Newborn baby girl in New York life insurance deal!
« Reply #24 on: December 01, 2015, 10:02:17 PM »
Got an email from somebody. Going through it now.

Offline unavailable

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Dec 2013
  • Posts: 545
  • Total likes: 20
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: bp
Re: Newborn baby girl in New York life insurance deal!
« Reply #25 on: December 01, 2015, 10:03:13 PM »
So now that you have my papers I'm just a somebody  >:(

Offline DMYD

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jul 2013
  • Posts: 2909
  • Total likes: 4
  • DansDeals.com Hat Tips 1
  • Gender: Male
    • View Profile
  • Location: Brooklyn
Re: Newborn baby girl in New York life insurance deal!
« Reply #26 on: December 01, 2015, 10:08:12 PM »
Here you go

Offline EJB

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Sep 2012
  • Posts: 5409
  • Total likes: 254
  • DansDeals.com Hat Tips 15
    • View Profile
Re: Newborn baby girl in New York life insurance deal!
« Reply #27 on: December 01, 2015, 10:09:45 PM »
If you give me your email address or phone number I can have his office contact you.  He is a very nice and honest broker!

I like how you don't even give us his contact information. We need to get on their marketing spam list to get in on this deal.

Offline yos9694

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2012
  • Posts: 1903
  • Total likes: 899
  • DansDeals.com Hat Tips 6
  • Gender: Male
    • View Profile
Re: Newborn baby girl in New York life insurance deal!
« Reply #28 on: December 01, 2015, 10:11:54 PM »
So now that you have my papers I'm just a somebody  >:(

Haha, didn't know if it was you or DMYD

Offline henche

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: May 2011
  • Posts: 4183
  • Total likes: 447
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Newborn baby girl in New York life insurance deal!
« Reply #29 on: December 01, 2015, 10:13:52 PM »
Impossible.

Offline googwallet

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: May 2013
  • Posts: 1232
  • Total likes: 68
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: PA
Re: Newborn baby girl in New York life insurance deal!
« Reply #30 on: December 01, 2015, 10:18:14 PM »
So this is only for girls and boy boys?

Offline yos9694

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2012
  • Posts: 1903
  • Total likes: 899
  • DansDeals.com Hat Tips 6
  • Gender: Male
    • View Profile
Re: Newborn baby girl in New York life insurance deal!
« Reply #31 on: December 01, 2015, 10:18:54 PM »
Impossible.

Not impossible. Allstate could have made a pricing mistake. Still, I think we might be making an interpretation mistake.

Offline unavailable

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Dec 2013
  • Posts: 545
  • Total likes: 20
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: bp
Re: Newborn baby girl in New York life insurance deal!
« Reply #32 on: December 01, 2015, 10:20:13 PM »
So this is only for girls and boy boys?
Only girls

Offline unavailable

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Dec 2013
  • Posts: 545
  • Total likes: 20
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: bp
Re: Newborn baby girl in New York life insurance deal!
« Reply #33 on: December 01, 2015, 10:21:57 PM »
In the beginning they allowed double dipping (for each parent)

Offline EJB

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Sep 2012
  • Posts: 5409
  • Total likes: 254
  • DansDeals.com Hat Tips 15
    • View Profile
Re: Newborn baby girl in New York life insurance deal!
« Reply #34 on: December 01, 2015, 10:23:11 PM »
What are the surrender charges? Looks like 8% interest on loans.

Offline yos9694

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2012
  • Posts: 1903
  • Total likes: 899
  • DansDeals.com Hat Tips 6
  • Gender: Male
    • View Profile
Re: Newborn baby girl in New York life insurance deal!
« Reply #35 on: December 01, 2015, 10:24:51 PM »
What are the surrender charges? Looks like 8% interest on loans.

Surrender charges are implicit for WL CV. Loan interest only matters if you take a loan. That's not what we're missing here

Offline yos9694

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2012
  • Posts: 1903
  • Total likes: 899
  • DansDeals.com Hat Tips 6
  • Gender: Male
    • View Profile
Re: Newborn baby girl in New York life insurance deal!
« Reply #36 on: December 01, 2015, 10:26:39 PM »
The illustration doesn't show any dividends. Isn't that a fundamental feature of a WL policy though? Is it possible that the dividends are somehow baked in to the numbers shown in the "guaranteed surrender value" column? Would be crazy if it is. This is where the lawyers should chime in and tell us whether we'd have an airtight claim to the values shown on that piece of paper.

Offline EJB

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Sep 2012
  • Posts: 5409
  • Total likes: 254
  • DansDeals.com Hat Tips 15
    • View Profile
Re: Newborn baby girl in New York life insurance deal!
« Reply #37 on: December 01, 2015, 10:31:46 PM »
Surrender charges are implicit for WL CV.
Are you saying that the figures are supposed to include the surrender charges? Or, something else?

The illustration doesn't show any dividends. Isn't that a fundamental feature of a WL policy though? Is it possible that the dividends are somehow baked in to the numbers shown in the "guaranteed surrender value" column? Would be crazy if it is. This is where the lawyers should chime in and tell us whether we'd have an airtight claim to the values shown on that piece of paper.

The illustration isn't a contract. I'm assuming they'd need to see the contract.

Offline yos9694

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2012
  • Posts: 1903
  • Total likes: 899
  • DansDeals.com Hat Tips 6
  • Gender: Male
    • View Profile
Re: Newborn baby girl in New York life insurance deal!
« Reply #38 on: December 01, 2015, 10:40:30 PM »
Are you saying that the figures are supposed to include the surrender charges? Or, something else?

The illustration isn't a contract. I'm assuming they'd need to see the contract.

The figures do include the surrender charges, i.e. they are baked in.

Good point - the illustration is not a contract. It's possible that the data pages on the actual contract will show different numbers from the illustration. Then this would all make sense :)

However, if the OP can confirm that the data pages in the contract have the same premium & CV, then let's set aside our biases against WL and consider that this could be a price mistake. The numbers on the illustration say "Guaranteed" very clearly, I find it hard to believe that a court would not rule in favor of the customer.

Offline ar

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: May 2014
  • Posts: 518
  • Total likes: 20
  • DansDeals.com Hat Tips 3
    • View Profile
Re: Newborn baby girl in New York life insurance deal!
« Reply #39 on: December 01, 2015, 11:41:18 PM »
This sounds like a mistake. ... but it's guaranteed so why not do it?

Can someone PM me the details if the agent? Thanks