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Life Insurance from PFA / never explain the details

2 Daly City CALIFORNIA, United States Review updated:

I have to say this passed year in the bay area there are a group of people suddenly became financial investment advisor, beware to the following people: Jack Wu, Lan Zhang, Lucy Liu, Bill Hong, Aggie Wu, Matthew, Bosco leading many others..
these people are not Educated well enough to offer people these type of investment Nor Life Insurance Policy, Life Policy is not a one size fits all type of thing!! not everyone will pick the same plan and option but sadly they have been pushing people on these so called life saving plans!! I was sold on one of the wrong plan later on i realized it's not a good fit for me, they also didn't explain everything in details and lots of mislead and hiding stuff going on, few Top guys claim they are making $120K - $3 Mill a year but they will never tell you how much they got charge back for it!! yeah charge back, they know not 100% of the customers will keep their policy, specially the one later on find out it's the wrong plan they have been slammed on. So if you guys hear about these people who are trying to hustle you either buying a life policy or join they to hustle others, BEWARD!!! if you want to get a great life policy go with AIG or other agent who sell National but not these guys!!!

Apr 9, 2015
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  • Ch
      31st of Jul, 2015
    0 Votes

    Please report this to you local insurance commission. If they mislead you, you can sue. Pleaseet others know by putting these liars in front of authority

  • Bi
      20th of Nov, 2015
    0 Votes

    They are doing the same thing here in Virginia/Maryland area.
    Watch out!!!

  • Pf
      19th of Mar, 2016
    +1 Votes

    started a facebook page please share your stories

  • An
      30th of Apr, 2016
    -1 Votes

    Here is the problem with PFA. It is operating on the borderline. It is not illegal but to use a MLM way to sell life insurance has issues. And I think the leaders know those issues but are driven by the money instead of the well being of consumers. If a company is driven by profit but claim to have consumer's best interest in mind, than the company has problem. At least an ethical problem. The underlining insurance company and product, National Life Group's IUL, is actually a good company and a good product. However, as a insurance professional, we understand that IUL is a complicated financial tool and should not be handled by un-trained or poorly trained "agent", many of whom who do not have a license. If the agent later left the business and the account becomes a orphan account and has no one to take care of the client, the client has the risk of loosing life insurance! (of course in traditional company this problem also exist however at a much lower rate and company will re-assign accounts). Most of the agent in PFA earn very little money, the start up cost is high and commission is on 30% of a regular company, if one makes any money at all. However PFA keeps just pushing a handful successful leaders. So, my conclusion: most of ppl do not make money in PFA, and it is not a good way to well life insurance.

  • Mi
      25th of Jul, 2018
    0 Votes

    @Andy197506 Andy I see your point, but despite the vague of the company, is it trust-able to buy the insurance(National Life Group) from PFA?

  • Lu
      25th of Jun, 2016
    0 Votes

    Here is you should target your law suit or personal vendetta:
    PFA aka Premiere Financial of America
    David Carroll (President), aka Lucifer in Flesh, about 56 years old
    Phone Numbers: (770) 271-0443
    Address: 4600 Colony Point, Suwanee, Georgia 30024
    His father: David Carroll, Sr., operate from Premier Securities Of America
    His wife: Susan J Carroll

  • Fi
      26th of Sep, 2016
    0 Votes

    PFA and Jack Wu SEAL team is a complete fraud.

    /link removed/

  • Fi
      26th of Sep, 2016
    0 Votes

    First and foremost, THIS IS NOT an insurance company. They are a multi-level marketing company. To learn more about MLM visit this Wikipedia entry

    PFA preys on the ill-informed young people who are hungry and have very little to lose. Most people you see at the events are in their 20s. Some of them are even under 20! But that is not the problem—no—the problem is that they do not disclose everything until you pay your entrance fee. I’m here to help you make an informed decision. If you still want to join, beware…

    The recruiting process:

    Entrance fee is somewhere around $135. They bring in top “leaders” in their organization to blow smoke up your a**. They tout people like Jack Wu (who is by the way the most pretentious a-hole of the bunch), to preach to you on 12 steps to be a millionaire. If you want to be motivated, hire a life coach. If you want to sell insurance, go to an insurance company. Mr. Wu is nothing but a fraud. His whole MO is about recruiting you to join his team so he can make even more money through his “university”, known as Jack Wu University (yes, I’m serious). He’ll say things that not only lack substance, but outright hilarious: Things like: “you want to be a millionaire? There’s no fat millionaire”. He also carries around a monogrammed chair with his initials. Talk about delusion of grandeur.

    Then you have their East Coast office, they have Serena Nguyen (aka Minh Chau Nguyen NPN #9062802), who touts she makes $700k a year. What she doesn’t tell you is that $700k, is not from the actual insurance commissions, but off her minion’s back and from the $125 dollars you just paid them to “learn” more. In her presentation, she shows pictures of her in a Benz, and all her lavish trips. Again, this is a classic hurrah hurrah presentation to hype up the audience.

    This is no different from Primerica, Amway, etc.

    All of them share the same message: you can make a lot of money, travel anywhere you want, drive any car you want. This company is the best! We care about its people. You can be successful, and build your own team…but before you get started pay this non-refundable fee to get started.

    They are ALL smoke and mirrors. Don’t be duped.

    The compensation:

    I didn’t join because I saw right through them. Several of my friends drank and Kool-Aid and shelled out the $135 only to realize the whole thing was just a scheme—but it was too late (they have a no refund policy). Obviously, they do a great job and selling the dream to you, but will never “show” you the compensation structure until you pay that fee.

    I did some research about their “compensation” structure.

    The product:

    PFA doesn’t underwrite any of their products. It is underwritten by another company. Their most popular vendor is Allianz. If you want to buy Allianz products, just go direct—stay away from the marketing companies like PFA. They also will sell you universal whole life even if you don’t need it. Remember, they are not allowed to dispense advice, because they are sales reps and are not properly licensed. If you run into a rep has given you financial advice, then report him/her to FINRA or your state insurance commissioner!

    Bottom line…I caution you to do your research before even talking to them. If you are serious about selling insurance, go to a real insurance firm, where they won’t charge you money just to learn about the business. If you are planning to buy a policy from them, consult with a qualified financial advisor.

    Hope this helps.

  • Pr
      9th of Dec, 2018
    0 Votes

    @firstscamcatcher Don’t put primerica, which is a publicly traded company with PFA that sells crap to consumers. Thank you!

  • Ma
      28th of Sep, 2016
    0 Votes

    Does anyone know if any government officials such as Departments of Justice know about these people??? Can they do anything about these people?

  • Ma
      22nd of Dec, 2016
    -6 Votes

    It ia legit company and growing fast, my sis in law is a top producer in Houston, Texas. They been around for 20 years she work her ### off and seen a lot if people benefited on it when they got sick and hospitalizzsed they received check to pay for their hispital bill or use the money to buy a new car they dont care where you use it it is your money so they give it back to you anyway thise people only paid the monthly dues for kess than a year and they gotmost if their money. This is not a pyramid scam which a lot of people and i thought in the first place. Very legit company and license all you need is hard work to sell the product and you will earn commission for life as long as your customers are paying their monthly dues. Thre are many benefits and dont listen to negative people who got scam by well known insurance companies. She made $40k less than 3 months on commission by the way it is not a one time commission it is for life. Other insurance you only earn the commisiion one time this on doesnt you are making commission for the rest of the customers policy.

  • Pe
      7th of Mar, 2017
    +1 Votes

    Don't fall for it it. You won't really make a lot of commission unless you trick your friends and family to be your down line and they will then need to trick their friends and family to be their down line and so on. This is a sad business model and eventually your friends and family will hate you for doing this to them

  • Ke
      10th of Mar, 2017
    +3 Votes

    Be your own judge

  • Gs
      15th of May, 2017
    0 Votes

    Crazy crazy stuff ... glad it ain't me

  • Ir
      15th of Jun, 2017
    -1 Votes

    Please do not misguide hard working families and people of a great company that you do not totally understand. You do not have to join if you don't want to. You can ask as many questions and take as long as you want to decide to join or not. The presentation they have is free to come and listen and see what they do and can offer to you and to customers. I, myself almost didn't purchase PFA's highly recommended product because of my ex life agent with another insurance company because he is uneducated about the newer life insurance product that PFA's agent told me about. PFA also represent all other great insurance companies like AIG, which you mentioned. You do not know the small little details about the product, IUL and you only really complaining about joining and wasting a $125 or $135. PFA also sell Term insurance, Whole Life, etc. and compare companies for you and tell you the truth about your current life insurance policy in details. You tried in joining PFA and it wasn't for you, that is fine, learn from it, but don't discourage others and cause them to miss out on a great product that can protect them if a major illness arise, a permanent life insurance until death or 120 year old(whichever comes first), and a saving feature that can grow their money without any risk. Me and my family have owe the product, IUL for over 2 years now and I saw all the little details, like all the charges and the interest earning, which are all true and the peace of mind that my family and I are total protected.

  • Ku
      6th of Nov, 2017
    0 Votes

    @IreneT4kids did you get your license to sell insurances?

  • Ca
      11th of Jul, 2017
    0 Votes

  • On
      18th of Jul, 2018
    0 Votes

    PFA is around 20 years old. They have many experienced agents, directors and leaders that use to work with well known companies like Prudential, New York Life, State Farm, Mutual of Omaha (just to name a few) that now call PFA home. Many of those directors and leaders were executives in their prior company. National Life Group has been around for 170 years and has an A+ rating from insurance monitoring services.

    As you may already know, Insurance companies operate in a very highly regulated industry which is why they are audited every 5 years by their states commissioner. Every agent must be licensed and trained to sale insurance legally. There are no red flags for PFA as it relates to this.

    So what does this all mean for PFA?

    Well... if they have been audited, if NLG has PFA as their top marketing group for their IUL product and if all licensed agents are only selling products...and if PFA are still in business. That means that the governing bodies in the insurance industry either have no issues and/or find their business practice acceptable.

    The Perceived Issue

    It's MLM. Well... it's actually insurance marketing using a business network marketing platform which is very legal. The company finds people who want to be in business for themselves - the new business owner pays their small one time cost of doing business fee which is NOT paid to any PFA associate. The new associate trains to get their license - gets their license - recruits to build their own agency or downline and helps new business owners do the same.

    If the product is legal, if recruiting is legal and if the agents are in business for themselves and license. No issue will be found with PFA.

    If someone lies about their earning...well, that's a different story.

  • Ji
      24th of Jul, 2018
    0 Votes

  • Mi
      31st of Jul, 2018
    0 Votes

    They did good by me. I have been with them for years. My rep is Stacy Ayers.

  • Ho
      27th of Nov, 2018
    0 Votes

    But Jack Wu and Bill Hong give messages of hope on WeChat. They both achieve great success with PFA. You can too!

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