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After looking at this site for the first time I thought I should share my story. I graduated from college two years ago with a major in Business Administration. I was recruited by North Western Mutual to be an agent. They started me on a draw against my commissions for up to six months so I could get off to a good start. They told me to put a list of names together of everybody I new because that would be my market and they taught me to sell Life Insurance as an investment program and college education program. After six months of this training I started to see all of the law suits against the insurance industry. (Pru, NYL, Met, Lutheran Brotherhood, State Farm, American Family, and many more). They are all being sued for selling life insurance as an investment. Needless to say I am no longer in the insurance business. But I am ashamed to say that I did sell policies to friends and family members.
I was told not to sell term because it wasn't profitable to the company or to me as a rep. I will live with the guilt of what I have done for many years and it is really tough for me to look at my friends and family members now.
I have switched my own Whole Life program to term insurance now. And would advise anyone else who owns cash value insurance to do the same.