Good question..do credit card/banks really pay you

Posted: Sun Jul 12, 2009 12:55 am Post Subject:

Just this week, I have been approached from a friend that was always interested in our service. They have known about us for 1 1/2 years and procrastinated on using our service. Her father passed away last week and now she is crying to me to assist her to find his 2 million dollar life policy.

Posted: Sun Jul 12, 2009 01:12 am Post Subject:

Hello Insurance Expert,

First of all, I did not choose to quit posting I simply informed anyone that would like to have more information about our service to send me an e-mail. I was asked to do this because we are not here to promote our service just inform. If people would like more information they should e-mail me.
Secondly, We are a service that you pay for yearly. If you are concerned that we will not be around in years to come then don;t use it. You can always go back to the method that you feel works for you. "Write it down" These days you can;t even be sure that the life insurance company will be around, eventhough, if you know what you are doing, that is an easy problem to solve.
And no, our friends have no problem paying for our service but it is called procrastinatioin and that also happens with writing it down and talking about the locations of legacy information with your loved ones. Everyone wants to do it "tomorrow" and then the time comes where "tomorrow" is too late.
This service is for anyone and everyone that recognizes the need to keep this important information available to their loved ones.
Insurance Expert, if you have any other questions, please email me.

Thank you Michael

Posted: Sun Jul 12, 2009 01:33 am Post Subject:

Actually, you said to go to your site and look at the FAQ. The FAQ answered none of the legitimate concerns about your service.

The Catch 22 is that the type of person who will be proactive and use a service like yours is the exact same type of person who will find your service to be completely useless.

Why pay your company money to inform beneficiaries about important documents instead of simply letting the beneficiaries know where to find the important documents?

Posted: Sun Jul 12, 2009 02:45 pm Post Subject:

Yes I did send you to the FAQ and I also said that if you do not find the answers there to email me through the system and i will be more then happy to answer them for you.

There are many data storage companies that store information for individuals so it does not get lost. We are just a specific storage company that not only stores information but reminds the beneficiaries where to find it when the time comes. I am sorry you, and only you, find our service useless. Please feel free to write your information down and give it to your beneficiaries. This wil work if your family is organized. I am not saying that our service is for everyone but it definitely is for the individuals that would like that added security and peace of mind knowing their families are taken care of when the time comes.

Michael

Posted: Sun Jul 12, 2009 06:24 pm Post Subject:

The conclusion that I am being forced to draw is that you don't want to answer questions here because it won't make your company look very good.

It's quite amazing that I'm the only one in the world who finds paying for your service to be a waste of money. You must be making serious bucks.

As I've previously stated, I have nothing to gain by deciding that your service isn't worthwhile. In fact, I'm trying to give you the opportunity to prove how great your service really is. After all, I sell several hundred policies a year and if you can prove to me that your service is worthwhile, I'd be happy to refer lots of business to you. There are some other agents on this board who also sell lots of policies. It could be great for your business.

Posted: Mon Jul 13, 2009 06:04 am Post Subject:

Hi FindYourPolicy,

The part I'm concerned about is data security. I think I'd be sharing very personal information in your site like- my contact details, name of the beneficiary and policy info. How is this information protected?

Thanks,
Rupert

Posted: Mon Jul 13, 2009 11:21 am Post Subject:

Hello Rupert,

That question is a concern of everyone these days. The information that we ask you to enter is very minimul. You would enter your first and last name, your address and phone number which is optional, the last four digits of your Social Security number along with your date of birth. (This is information that some banks use for security and no one can do anything with it) You would then enter the email addresses of the beneficiaries who you would like notified with our quarterly e newsletter. No names are mentioned only email addresses given. These could be your beneficiaries, an attorney or financial rep etc. Then you would mention the company name that holds your life insurance. You never enter your policy number, your social security number or any amounts what so ever. This is not needed. All FindYourPolicy.ocm is here for is to give your loved ones a direction on where to start looking. As you can see, if someone were to penetrate our website they get no information that they can use to steal your identity. If you were to fake my death certificate and find out who I have life insurance with, the only person that will get paid is my wife. The beneficiary of a life insurance policy is the only irrevocable judgement a court cannot reverse. Sure there are certain curcumstances however, they would have to show up in court and argue with my wife, so simply stealing it will not be possible. Unlike other internet data storage companies we do not ask you to scan any documents. We just ask that you enter the company name that holds your life insurance policy and or the bank where you have a safe deposit box at. We are further protected by the entities that we deal with. Banks and Insurance companies. When it is time to claim your benefits your loved ones must go throught their protocal to receive a check. We simply gave them a direction on where to start looking so that they will never be at a loss of where to start. It is free for your beneficiaries to search our database. They simply go to the research tab and enter your last four digits of your social security number and your date of birth (which is found on a death certificate) and the only thing they will see is the company name that you entered. There is an example of what they will see on the website if you are interested.
Thank you for the question.
Michael

Thank you Michael

Posted: Mon Jul 13, 2009 11:54 am Post Subject:

Rupert, help me to understand something from the consumer's standpoint. (Let's assume for a second that Michael's company is well known reputable corporation.)

You can pay Michael a fee every year. In exchange for this fee, he will have a listing of your policies and the beneficiaries. He will also occasionally contact your beneficiaries to let them know that they are beneficiaries of certain policies

As an alternative, you can not pay Michael a fee. Instead of sending the information to Michael, you can cut out the middleman and send the information to your beneficiaries and your attorney and CPA. Use the fee to increase your term life insurance by $25,000.

What is the advantage to you and your beneficiaries to use the service?

By the way, my biggest problem isn't paying a fee to do something in which paying a fee isn't necessary. My biggest problem is that the odds favor the fact that one will outlive the company. This service only has value if you die while the company is in business. For one, since most businesses fail that means that it doesn't make sense to use this business until after it has proven to be financially successful. Secondly, it only makes sense to use if it is a publicly traded company. Otherwise, the odds of it surviving Michael are very slim.

Posted: Mon Jul 13, 2009 02:35 pm Post Subject: credit card/banks really pay you...

I really do not know who this 'Insurance Expert' claims to be, however, I can assure you, I do feel sorry for his clients...if he really does have any! I would be running in the opposite direction real fast!
You seem to be speaking of subjects you have absolutely no clue on. Please stay with the subject, or get off this forum and let the professionals deal with the questions.
Please remember, this is a professional site where people try to give honest answers to, sometimes, some very sensitive circumstances. Members come to this site for professional advice, not to hear someone complain about everyone and everything. (It seems you have a complaint about every subject on the planet!)
FindYourPolicy.com is here to assist those in need and who have no where else to turn. It is a GREAT idea! They are insurance for the insurance!
Like Michael said...(and please pay attention...as it seems you do not want to hear this!)... he is here to assist those who do not have the time to do what you are saying everyone should.
There are many Life Insurance companies who have gone out of business or have been bought out by another firm. (It seems you are not aware of this...) As a result, your concern of 'going out of business', there should be more concern for some of the Life Insurance companies than FindYourPolicy.com. (I am sure you also will not be around for 100yrs, where will your clients go then....or will you just 'close up shop' and leave your poor clients hanging after they have paid their premiums each month for years??)
Like I said, this is a GREAT service. If you do not like it ... then do not use it. It is as simple as that!
Now please, let the professionals deal with the questions and you go about your business in a different forum.
I will not be back, but this needed to be said as 'Insurance Expert' is extremely misinformed.

Posted: Mon Jul 13, 2009 03:31 pm Post Subject:

Michael, it is this kind of post that causes you to lose credibility. It appears as if you are posting as someone else to try to defend your service.

Conceptually, I love the idea of find your policy. It would be great if the insurance industry did this. It needs to be done from the inside and not the outside to work.

What I'm suggesting that people do doesn't take any more time than contacting and paying for find your policy.

Life insurance companies have been around for over 100 years and death claims never not get paid due to a company going out of business. As best as I can tell, find your policy isn't even an incorporated business. I will be out of business before most of my clients die. That doesn't matter. They don't need me to be working to collect on their claims.

I may be misinformed. If I am, please set me straight. Let's start with the answer to this question.

"Is the company incorporated?" I see nothing on the website that gives any indication that it is.