• Report: #795298

Complaint Review: Brentwood Alliance Financial Insurance Services

  • Submitted: Fri, November 04, 2011
  • Updated: Wed, February 22, 2012

  • Reported By: M560 — Beverly Hills California United States of America
Brentwood Alliance Financial Insurance Services
11845 W Olympic #1255 los angeles, California United States of America

Brentwood Alliance Financial Insurance Services Life Asset Management They had me take out a life insurance policy without any money and lied and said it was free for two years then I could sell it but the bank who paid for it owns it! The bank can't sell my policy so los angeles, California

*General Comment: 99.9% sure it's true

*UPDATE Employee: False Report Created by Disgruntled Employee

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This company is taking advantage of seniors to get high commission by promising something to good to be true. They get seniors to take out life insurance policies and tell them it costs nothing. In the beginning it dosn't. They pay the premium for the senior and say it's a done deal and then at the end of 3 years they own the policy. But they don't tell you that you have to take over the premium payment of thousands of dollars. If you don't guess what happens? The bank pays it then they own your life insurance policy! the bank can't sell my policy now so they are trying to make me pay back the premium they invested in it. I have been threatened by the bank and can lose my house now! I have several friends who have this happening! They target retired seniors who are wealthy. Do not do business with this company!

This report was posted on Ripoff Report on 11/04/2011 08:54 PM and is a permanent record located here: http://www.ripoffreport.com/r/Brentwood-Alliance-Financial-Insurance-Services/los-angeles-California-90064/Brentwood-Alliance-Financial-Insurance-Services-Life-Asset-Management-They-had-me-take-out-795298. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 General Comment

99.9% sure it's true

AUTHOR: John Mack - ()

We became suspicious of this company when the older parter asked us to "fudge" my parent's asset information.  

http://www.nasdaq.com/personal-finance/3-popular-life-insurance-scams.aspx
The link above comes from Nasdaq and the similarities to the ripoff claim are to close to be dismissed as a false allegation by a disgruntled employee.   

"Stop me if youve heard this one before. An elderly couple is invited to a fancy dinner by a life insurance agent. After an evening of good food, drink and conversation, the agent tells the elderly couple about an investment opportunity that will net the elderly couple a nice tidy sum of cash. All they have to do is take out a life insurance policy for a large sum of money, say $10 million. The agent promises to loan the couple the money to pay the premiums and will even give the elderly couple a hefty cash reward for doing so, as long as they agree to change the agent to the beneficiary at a later time. What decision should this elderly couple make?"

http://fraudavengers.org/2012/04/elder-abuse-the-story-behind-stranger-owned-life-insurance-stoli/

The original report is more than likely not from a disgruntled employee.  It is their way of trying to save face.  All you gotta do is Google search Senior Life Insurance scams and there's tons of articles.  If you still believe the rebuttal after reading then you are just the kind of client they are looking for. 

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#2 UPDATE Employee

False Report Created by Disgruntled Employee

AUTHOR: Brentwood Alliance - (United States of America)

This report is totally inaccurate and 100% false. This report was created by a disgruntled ex-employee who is only interested in creating a false impression of our company for retaliation. The client in the story is totally fabricated and none of the events has ever happened to any of our clients. EVER. Our company does nothing but help seniors and provide a great product that our clients are absolutely happy with. They are never mislead and all information is clearly stated, written, and explained in detail. Anyone who is interested in doing business with us can always request a steady and growing list of referrals to verify the integrity of our company and its business practices.  Thank you rip-off report for allowing us to rebut this false report and keep up the good work!
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