United American Insurance, Torchmark Coporation An apparent scam St. Louis Missouri

I am a former employee of United American (UA) and a current agency manager of a company that represents UA and several other insurance companies. The company you refer to has been A+ rated for over thirty years, is one of the nation's largest providers of Medicare supplements to seniors, and is endorsed by Paul Harvey - who scrutinizes companies thoroughly before he gives his approval.

This "less-than-upfront" opportunity that you passed up has allowed me and others to earn a 6-figure income by helping people meet their insurance needs with various products offered by UA. Now, aren't you glad you listened to other misinformed people on this site and didn't fall victim to this "well-organized and sophisticated scam"?

United American Insurance

Organizations are defined by their values. In business, the ability to translate principle into practice is the measure of success. For Over 50 years, United American Insurance Company is established as an organization based on four core values: stability, service, quality, and commitment. Today, the company continues to evolve but remains defined by these principles set over a half century past. It is by honoring their foundation that they also forge the future and continue to ensure success. United American operates in 48 states and the District of Columbia and has over 500 people in the Home Office working to ensure that the customers receive outstanding products, service and support every day.

For over a half century, United American has been meeting the individual insurance needs of their customers. A great company goes the extra mile to not just sell a product, but to establish a relationship with the customer. At United American, it is believed that a great company, continuously strive to deliver superior service and customer convenience.

The company offers products like:


Life Insurance
Health Insurance
Long Term Care
Group Retiree Health





Ratings(9 Reviews)
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Coverage

0.7%

Cost

0.7%

Customer Service

0.7%

Claims

0.7%





Reviews

Review Date: 06-19-2006 Review By: David Smith Type of Insurance : Health Insurance Location : ,Florida
Coverage: Cost: Customer service: Claims:
Great Company. They paid my claims when I had a heart attack. and my preium is lower compared to blue cross & blue shield.

Review Date: 03-20-2006 Review By: Danny Type of Insurance : Auto Insurance Location : ,Georgia
Coverage: Cost: Customer service: Claims:
the only reason iam with United American is my agent and as long as he is with me i will never change my insurance company. He and his wife are the best agents and provide excellent service.I have found cheaper rates, but not worth it. Weel worth a little extra. The company is OK, the agents are great.

Review Date: 03-15-2006 Review By: Lili Type of Insurance : Life Insurance Location : Lafayette,Indiana
Coverage: Cost: Customer service: Claims:
Its been five long years that I have been associated with United American. In the first three years of my mutual contract I was very happy with the services of the company. But for last two years I am experiencing great trouble with the company. Its loosing its grip on its customer service. The company officials are taking it easy that they have some responsibility towards the customers and their policies. They had to take care of their customers as the customers had given them their hard earned money for their own help and not for the people working in the company.



Review Date: 03-08-2006 Review By: Eric Type of Insurance : Other Insurance Location : Madison,Georgia
Coverage: Cost: Customer service: Claims:
I am having a group retiree health policy from United American. At this point of time in my life, I am feeling much more secured and free. It was the right decision to get such a policy which not serves at the time need but also takes care of our daily needs. With the intense and very good advice given to me by the company officials three years back to get retiree policy so that with the present, the future also gets secured. Its been almost a year that I have retired and for two years I paid timely premiums and recieved a great response from the company. Now that I am retired I am enjoying the fruits of the seed that I sowed three years back with the best help of United American.



Review Date: 03-02-2006 Review By: Cris Type of Insurance : Medi Care Location : Sacramento,California
Coverage: Cost: Customer service: Claims:
With a true spirit of service and dedication United American has made its mark. The company representatives are very co-operative and very much professional. They also have a very god experience in this field. The claim service which they provided me three months back was a worth applause. They were just fantastic in their job. I appreciate their way of doing business.


Review Date: 02-28-2006 Review By: Type of Insurance : Business Insurance Location : Mount Filler,Idaho
Coverage: Cost: Customer service: Claims:
Two months back I had an accident and I was hopitalized. The insurance company increased my premium with additional 2%. Can anyone believe that. This was the last time that I trusted United American. I am very much dissappointed with their behaviour.


Review Date: 02-21-2006 Review By: Yu Fang Type of Insurance : Medi Care Location : Fishers Park,Maryland
Coverage: Cost: Customer service: Claims:
I have been associated with United American since 1997. It is a very good comapany. It has served me generously in all these years and I hope the same for the future. I am holding a medical policy with the comapany. I feel that it is very affordable. After insuring myself with United American I am saving $100 per month.



Review Date: 02-16-2006 Review By: Alex Type of Insurance : Auto Insurance Location : Orange,Colorado
Coverage: Cost: Customer service: Claims:
I have had a satisfactory two year contract with United American. As it was the first time ever that I was insured with the company. Its customer service is good and so its coverage. But I personally feel that it is quite expensive compared to others and its claim service requires attention. It lacs effort.



Review Date: 02-08-2006 Review By: Type of Insurance : Health Insurance Location : Dallas,Texas
Coverage: Cost: Customer service: Claims:
United American is serving good pace. It has been improved in the last two three years. I can day this because I have been associated with this company from last five years. My whole family is holding policies through United American. It was once happened that my daughter was seriously ill and she had been admitted in the hospital. This was the time that the company officials did respond to the incident fast. This happened 3 years back, but nowa the company is really improving.


TELL ME IF THEY ARE SO BAD HOW DID THEY GET THIS RATING??????? WHY DON"T YOU LOOK AT THIS WEB SITE


CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

I received an e-mail to apply for a job here and saw that there was enough negative issues out there that I won't waste my time.-thanks

I am glad that you did not join United American. I feel awful for all of the people who have been misled by them. I know during my last week working for them, one of my coworkers was on the verge of killing herself because she no longer had any good leads being given to her and therefore was broke. I did not find out about the truth of the company until after I stopped working for them. I tried to get back in touch with the lady to tell her that it wasn't her fault for not getting the good leads. However, I was never able to get in touch with her and so I am scared that she did do something drastic.

Because of that, I want people to know what they are getting into before they go to work for United American. Yes, there are a few people who work for the company that have not been used like the rest of us. So a person joining with United American might become one of the lucky ones. But the chances are that an agent working for United American will end up like the rest of us in being used by the company to make others rich.

Scott says " A+ rated for over thirty years, is one of the nation's largest providers of Medicare supplements to seniors, and is endorsed by Paul Harvey - who scrutinizes companies thoroughly before he gives his approval.
This "less-than-upfront" opportunity that you passed up has allowed me and others to earn a 6-figure income by helping people meet their insurance needs with various products offered by UA. Now, aren't you glad you listened to other misinformed people on this site and didn't fall victim to this "well-organized and sophisticated scam"?
Scott - Charlotte, North Carolina
U.S.A."

1) A+ by AM. Best. You can pay them to raise your rating. Weiss has consistantly Rated them B and C. Therefore any claims about being rated is completely negated!
2)Paul Harvey does not endorse UA. He endorsed the UA medicare supplemental INSURANCE PRODUCT. He did not make that blanket statement about the company.
3)Just because you can make 6 figures it does not mean the company does not practice MLM or Pyramid inspired schemes. Enron Executives made 7 to 8 figures! They still broke laws. Just look up the Definition of Pyramid schemes and compare it to the way UA sells their products and how they go about CONSTANTLY recruiting Uneducated individuals. In any MLM and/or Pyramid you need constant recruitment from the masses to propagate the cass-flow model. Look up Primerca on here as well.
4) They compare their lower premiums to Major medical companies. Apples and Oranges people!
5) Upfront commissions are loans and not ACTUAL EARN commissions.
6) Owned!

~The enlighten one

I just completed my first week at UA and still cannot get a clear answer form my "manager". Let me set this up a bit...I only made one sale this week for $177/mo. I was told that I would receive 200% commission ($354.00).

One of his policies was cancelled, leaving only 2 in force (is MS precluded him from qualifying). Even so, the poliny in question was worth $55/mo. So his monthly premium is $122 so 200% commission would equal $244. My check from the branch manager was only $144.

I don't understand the "loan" thing...each time I ask, I never get a clear response...I am considering quitting before I make more money that I will not see. I know that people make money in this company, but I don't have the reserve to stick it out and feed a family of 5 in the interim

Without me knowing exactly knowing which policies you have written for this customer, and what the premium was for each, along with what the commission schedule for each policy is at your particular branch, I cannot tell you exactly why you got paid what you did.

But what I can tell you is that you only will receive 70% of your commission upfront on any bank-draft sale. The reason for this is to protect your monthly residual checks to a degree. Say you sold a policy and were paid a commission of $500, and the next week the policy cancels.

That commission is a loan based on a years worth of premiums being paid. So, in effect, you haven't 'earned' any of your commision, because the policy was cancelled. Next month when you get your residual check, it will show a chargeback of the amount you were advanced for the sale. The reason that you only receive 70% commision upfront is to lessen the sting when you do have a policy cancel. You will get the additional 30% in your residual check at the end of the month if the policy stays in force.

Hope this helps.

The only way to stop agents from lying and insurance companies for not policing their agents is to report the agents to the insurance company and the insurance commissioner. If the agents gets enough complaints someone will notice. Some agents will say anything to get the sale. They hope nothing will happen and you will never notice. They are the type to make as many sales as they can and then move to another company so they are not found out.

Some agents are selling their personality and try to give as little information as they can about the policy. They say they don't want to "confuse" the customer with too much information. You need an agent who is looking out for YOUR concerns, not the commission in his pocket.

You can't blame an insurance company if they do not know what the agent has promised. You must look at the benefits compared to the cost. Keep away from "discount" plans -- they are not insurance. Find out about preexisting conditions if you have any. If the agent seems unsure of the answer, tell him to check with the company and get back to you. If it's an important issue, get it in writing -- where is it written it in the policy.

As the consumer you must take responsibility by reading your policy. If you have any questions call the insurance company for clarification and get it in writing. I believe there is a "free look" period - usually 30 days from when you receive your policy.

When I sold health insurance, if there was a question I would get the answer in writing (email) from the insurance company. Sometimes agents decide for themselves what they "think" the policy means and then spread this misinformation to other agents. It is best to go straight to the insurance company for clarification. If you find that the agent lied or misinformed you, you must report this, otherwise other consumers will be hurt also. That agent could be fined and/or lose their license.

Insurance is highly regulated by the Insurance Department for each State. If there is something in writing in the policy and the company says something different you must inform the Insurance Department.

Whovever the Torchmark rep was, the statistics were not accurate. Was this a manager or someone claiming to be one? Or perhaps a headhunter.

Torchmark is a very reputable company. They are ranked 988 in the 2006 Global Fortune 1000 list. That's the world ranking of all businesses in the world. It ranks 23 among all insurance company's in the U.S. Torchmark has outperformed the S & P 500 by 225% over the past 7 years. Torchmark is the parent company of United American Insurance Company whom I work for. Warren Buffet is one of Torchmark's largest shareholder with 2.7M shares.

I'ts unfortunate you made your career decision on such inaccurate information.

1) Commissions paid up front are based on a years worth of monthly premium. Since most clients pay on a monthly basis, any commissions paid based on a year's worth of premium are, in truth, as yet unearned. What I mean is the company pays you a years worth of commissions UP FRONT. Do the math: $1,000 a month = $1,200 a year. 70% of 2X the first months premium is given to you up front; before the policy even issues. Why? Because they are nice thats why. They pay you $135 before they even get the $100 check from your client! Whats wrong with that? Are you uncomfortable with it? If so, I am sure you can tell someone "Thats OK. I don't want the money up front. I'll just take it as earned on a monthly basis". Many companies don't offer up front commissions to new agents. You have to prove yourself first. United American is exceptional in this respect.

2) I have been in the business going on 4 years. This is the first time a company has given me all the leads I can use. Many companies don't give you any leads. Any agent who has been in the business for a while knows this. If you quit because you didn't get leads, you're gonna find out that was a bad reason to quit.

3) I made alot of money with AIG. I made alot of money with an independent brokerage firm. UA's compensation package is as competitive as any I have encountered. Period. End of story.

Go work for Aflac. They are a Fortune 150 Company.

I have been with United American for nearly 20 years. This is by far a better opportunity to earn a great income and accumulate wealth than you are qualified for.