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02-15-2012, 01:29 PM
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Veteran member
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Join Date: Sep 2010
Location: Bronx, Massapequa, now Mahopac, NY, TV wannabee
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Quote:
Originally Posted by BostonCelt
A couple of big, big points there.
When it comes to insurance companies it's all about statistics, actuarial tables, and commissions. They are not public service, their purpose is to take your money out of your pockets and put it in theirs for the benefit of their investors (which could be you and me maybe!)
Always, ALWAYS ask the broker how he's to get paid. If his income depends on your financial decisions, be careful. If he's paid whether or not you sign up, you're obviously safer. That's why annuities are always a no-no to me.....the salesperson (he's NOT a financial advisor, he's a SALESPERSON!) gets 8.5% commission the minute you sign so, tell me, whose financial interest does he really have in mind?
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well spoken !
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