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  1. #1

    NASE/MEGA Agents Beware! You MUST READ!

    I was a top producer for the NASE/Mega Life and Health for several years before the ether wore off. The trips were great--it was exciting being part of the team, and I made a six figure income. Like ALL Mega Agents, this was my first health insurance sales gig (shouldn't that have been a red flag?).

    Over time, like all Mega Agents, I found that we were offering watered down, inferior health insurance policies that paid very little if any claims. Never a maximum out-of-pocket maximum (check your brochures for that specific terminology--you won't find it), high deductibles, high co-insurance, and if there were co-pays they had low limits (like everything else). We were trained to say that because our clients were now members of the NASE that they would only experience an industry low 8-10% rate increase annually. (Then why am I getting calls every day from my over 400 clients saying that they just got a huge rate increase between 15-40%?

    Over time, like all Mega Agents, I found that Mega was being sued left and right, getting kicked out of more progressive states, despite name changes and various shell games. How many of your clients have canceled after doing an internet search on Mega?

    Over time, like all Mega Agents, I saw the effects of the difference between the Mega advances and any other company's commissions (advances are loans with interest you have to pay back) which put me, like all Mega Agents into debt.

    Over time, like all Mega Agents, I saw that my stock plan that was supposed to take care of my future retirement was a mirage. After three years and over $2 million in production I was vested with less than $10,000 in stock. So I would have to work at this pace for the next 100 years to retire a millionaire (a little different story than I was sold in orientation). That stock didn't even cover my alleged debt to the company when I left.

    Over time, like all Mega Agents, I saw my bonuses whittle away instead of grow like they were supposed to. After Ron Jensen, the founder, passed away, the company made some changes. The REAP (production bonus) was changed to a QPC (production bonus). My production bonuses went from over $6,000 every other month, to under $1,500 every three months. That is a huge cut in pay. Not very motivating.

    Over time, like all Mega Agents, I found that I was driving all over the place at over $3.00 a gallon while independent brokers were making all their sales over the phone and internet.

    Over time, like all Mega Agents, I was forced to buy leads, even though I was producing more than ever before, because that was "expected" of senior agents.

    Over time, like all Mega Agents, I discovered that independent brokers were making three times as much money with none of the expenses.

    Over time, like all Mega Agents, I came to believe that there must be a better way. And I found it. If you would like to find a better way--a better way to make even more money, a better way to offer your clients more selection of the best health insurance options available in the marketplace, a better way to realize your dreams ethically, then please email me at exmegaagent@yahoo.com so we can talk.

    I can help you in several ways:

    1. I can assist you in forming an exit strategy. Don't just get frustrated and quit! Big mistake! You deserve more!

    2. I can help you develop a plan to combat that bogus debt that Mega says you owe them. Do you think its fair that Mega is the most profitable insurance company in the world, while the whole time you made them that way and now you owe them money?

    3. I can point you in the right direction when it comes to who you should be working with and how to get contracted with them. With the companies I current work with, I make 3 times the commissions, I acquire zero debt, I get 60 quality internet leads a week FOR FREE, I am vested immediately 100% on my residuals which never go away, I don't drive unless I want to, and I have total FREEDOM!

    Email me at exmegaagent@yahoo.com for more information. You owe it to clients, your family and yourself.

  2. #2
    Join Date
    Nov 2007
    Posts
    11

    Re: NASE/MEGA Agents Beware! You MUST READ!

    This was one of the 1st places I interviewed at. The basic idea sounds great. Picking and choosing a personal plan. What you have to realize is that smaller insurance companies will not make any money by having low payments and shelling out money. Also I found it odd that they have like 20 different company names. This is for a reason. Either to not be easily identified as being subrate or because of lawsuits. I went on to ripoff report and learned what this company is all about.

    Then here's the dilemma. You either screw people over to make money or you don't make any money by not selling crap products.

  3. #3

    Re: NASE/MEGA Agents Beware! You MUST READ!

    My husband got a call for a position with "UGA" when he was transitioning out of the mortgage business this last fall when it took a tumble. He was excited when he came back from the interview and was excited about the possibilites to make lots of $$$$ with this company. I immediately hopped online and found this company to be extremely sketchy!!! Now, several months later and making alot less money in an unrelated field, I'd like to explore the possibilities of getting into insurance sales. We'd both like to. But, what road do we start down????
    Last edited by Sassieinaz; 01-04-2008 at 09:44 PM. Reason: sp

  4. #4
    Join Date
    Nov 2007
    Posts
    11

    Re: NASE/MEGA Agents Beware! You MUST READ!

    I'm 23 and had no experience, so I first went with what's out there. Midwest, which is all this NASE/MEGA whatever company was one of the first ones and I learned a lesson. First I looked towards Fortune 500companies because I figured they have the finances to back up policies, but then you still get some sketchy companies. Don't wait for job openings, there generally is a place on their websites to apply. Check out their ratings and see what products they sell. You obviously want to go to a top company because if they have the best products they'll be easier to sell. The more refutable companies will talk w/u right away, instead of stringing you with. I liked the mutual companies because they are only bound to their policyholders rather than stockholders. Get good at taking personality tests. You want to be enterpeneurial (sp.) and want to help people. Here is a list of places I looked at before getting hired. Northwest (got hired there #1 rated insurance company, don't believe in hiring a lot of agents. They have great insurance products. I'm studying for my test now, I'll let u guys know when I start working how it is)New York Life (ranked #2 or 3. They hire a lot of agents and are the company attatched w/AARP for seniors) Mass Mutual (the branch I was looking at for was strictly geared toward business owners, they have good products)Prudential (people laughed at me when I said they were interested in me. They kept stringing me along to get my names as leads)Ameriprise (strickly financial planning. They work a ton of hours)Metlife (no longer a mutual company. Only have 1 product, forget which that is supposed to be pretty competitive. The branch I was at had the worst interviewing procedure)Bankers Life and Casualty (u have one market to work with and didn't get a great feeling from them)Midwest (you can tell by looking at any scam site what they're all about. They just started airing commercials in Massachusetts, it makes me cringe when I see them.

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