• Report: #1037792

Complaint Review: EFund Insurance

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  • Submitted: Mon, March 25, 2013
  • Updated: Mon, March 25, 2013

  • Reported By: Anonymous — Southfield Michigan
EFund Insurance
29777 Telegraph Rd. Suite 2355 Southfield, Michigan United States of America

EFund Insurance NO career opportunity!!! Licensed Insurance Professionals STAY AWAY Southfield, Michigan

*UPDATE EX-employee responds: Wasn't that tough....

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    I worked for this bogus company recently.  I was told that I would receive leads as part of a system and could earn as much as 60k first year and position myself for a management opportunity in a growing young company.  David Hannah and Vince Spampinato are the owners and they are extremely good salespeople that will sell you a pack of lies.

    First of all they lie to you about the hours, the hours are horrible; 9-7 Monday-Thurs, 9-2 on Friday, and you are HEAVILY ENCOURAGED to work Saturdays.  Friday they often guilt you in to working longer.  They pay a base of 24k a year and say you can make commissions but you CANNOT!!  The way they structure it is designed to put money in their pockets and leave you busting your you know what for next to nothing.  In the time I was there they changed the commission plan 3 times and those that speak up are ridiculed as being negative.

    You have a sales meeting almost everyday where they do a big pump up session, David Hannah is hilarious, he acts like a preacher but one that is stealing from the basket.  The days are brutal you are on the phone with people that get transferred to you under a total false pretense, they are told they qualify for state regulated benefits but you are there to sell them final expense whole life insurance.  You will be forced to talk to people out of state when you are not licensed to sell there putting your insurance license at risk, if you sell a policy out of state where you are not licensed then the 'manager' gets on the phone to do the voice recording to make it seem legit.

    The people you are selling to are low-income seniors and you are told to sell to them no matter what!!  If they won't buy you are trained to berate them and tell them how they don't care about their families.  They will lie and make things up, even saying they have a 'white noise' system that protects people from giving out their credit card information and social security number.  When they try to cancel their policies you are told to talk them out of it by guilting them that they don't care about their kids.

    David and Vince's whole plan is to get people to come in and sell for awhile until they realize it is all a scam and then quit and they just do it over and over again ... you are just a number and they could care less about you.

    INSURANCE REGULATORS PLEASE INVESTIGATE THEM!!!  The vast majority of their sales reps sell out of state and I believe this may be a violation.  Insurance professionals  STAY AWAY!


This report was posted on Ripoff Report on 03/25/2013 11:03 AM and is a permanent record located here: http://www.ripoffreport.com/r/EFund-Insurance/Southfield-Michigan-48034/EFund-Insurance-NO-career-opportunity-Licensed-Insurance-Professionals-STAY-AWAY-Sout-1037792. 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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Updates & Rebuttals

#1 UPDATE EX-employee responds

Wasn't that tough....

AUTHOR: Anonymous - ()

Sounds like somebody was a really bad salesman......  First, the hours were 9-6 Monday through Thursday, and then 9-3 on Friday.  Saturdays were available for those who wanted to come in, they were completely optional.  I went in maybe one Saturday a month, only because I wanted more sales, which meant more money in my paycheck.  If I didn't have to move away from the Southfield area, I would still be there.

Second, they offer a 24k base pay, but in the year I worked there, I only made 2k a month for the first two months.  They offer the base so that people can learn the process and ramp up their business.  If you know how to sell insurance, you would have no problem getting over that base and making bonuses.  There is also a trip based on sales performance each year, the year I was there it was to Hawaii (7 or 8 agents went.)

Third, when I was there, I was only able to sell insurance in the states that I was licensed in.  So I'm not sure what you are talking about....

Anyways, if you don't show up to work, if you are only looking for the really easy sales, or dont have the patience to talk with seniors, then stay in your customer service job, forever.  But if you show up to work, aren't negative all the time, and have the drive to succeed, then they are there to help you learn the process and successfully sell insurance over the phone.  It's a great opportunity for those who are willing to work.

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