I was an "Associate" with the the New York group and lost over $20,000 of my own hard earned money in the VUL (Variable Life Insurance Policy), and that is not counting the several hundreds I paid in fees to join the group. What a scam. They say that it is a legitimate business, but half of their agents don't know what they are selling. What they fail to tell you is that the so call "investment" portion of the policy does not get vested to you until many years down the road, which means so much of your money goes to the many tiers of the pyramid (Oh!!! so sorry, Multi-Level Management"). And after that many years, you already have too much piled in and feel too stupid to pull out.
But Don't blame the agents. Majority of the people there have been brainwashed and think they are in deed helping the Asian community. I don't care if some young graduates are all gung-h*o in joining the club. I believe everybody should learn their own lessons. It's all part of growing up. I know I have because I had joined my self. But what I really have a problem with is that these agents prey on the timid nature of the asian community, and sell them something that they really do not have a basic level of understanding of. And when time comes for them to request a withdrawal for some emergency reasons, that's when the client realizes the painful truth. They are only entitle to a fraction of what they put in. And most of these clients are either non-English speaking, nor have a method to voice their complaints.
Those of you "Agents" think you are doing "Good". Look around when you run another BPM next time. These are your very own people that you are ripping off.
Also, the leaders all tell you that they make a lot of money to get you all excited to join. But I could never find out exactly how much some of these managers pull in in a year. The company parades them around with the check when it comes time to get paid. But if you add it all up, honestly ask yourself this question: how much am I really making in a year, meanwhile, having to be embarassed and defend your job when it comes up as a topic of discussion at a social gathering.
SIDE NOTE - I was invited by some agent to attend their X-mas party just past. I politely declined since she didn't know I was associated with WMA before. And here's the KICKER, they tell you that the company is doing so well and this and that. Well, with so much money being made, why am I being invited to a party and was asked that I have to PAY my own way of $40 or so to attend. Fropm my experience, during the party, 80 percent of that time is spent listening to somebody doing a dog-and-pony show with stupid awards touting the cult-like company again. Isn't it just another BPM?
And if Hubert Humphry is so honorable and sucessful, why are there so many lawsuits against his ever name changing and chameleon like company. You don't see a legitimate company like Coke or Microsoft having to change their names in order to mislead people do you.
THE LAST WORD - Do you AGENTS feel guilty and ashame when you look yourself in the mirror each morning knowing that you are ripping off your own people?
Manhattan, New York