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/biz/ - Business & Finance

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52794220 No.52794220 [Reply] [Original]

I am not one to a post usually, and I'd usually just Google around and see if anyone has been in the same situation.

Haven't seen many posts surrounding this topic, so figured I'd make the post.
The gist is that I just signed term life insurance because the 'advisor' (I know he's really just a salesman selling products at the end of the day) was really pushy. I don't feel good about it, but he made it basically impossible to say no. He basically had his hooks in deep and reeled me in.

This whole conversation stemmed from me wanting to know more about my workplace's benefits through their company (SunLife Financial), and what tools they have to offer. Then we started talking about how I intend to own a property in the next year, and life insurance got brought up. He went on to tell me that it's a great thing to have, and when talking to him, it was all making sense. I had the intention to take that meeting and understand life insurance as a tool, and walk away and revisit later. He insisted that we go through the application, since it can take a long time to get approved anyways. I thought "Sure, why not? Doesn't hurt to apply and see what happens". We went through basically the entire questionnaire, and then he said that the ~$30 monthly will be taken out on this date every month going forward. That's when I wanted to start pumping the brakes. This sounds like I just signed up for a permanent gym membership that I don't even need yet. I told him my concerns and he insisted we press on and submit, since we're at the end. He mentioned there's a way to cancel and get a full refund at any time during the application process, which is what I'm thinking of doing at this moment.

I'm 25, have no debts, overall healthy, no kids, and have a significant other and have a plan to buy a property within ~12 months. I agreed to $30 every month on 'term 20' policy.

Just wanted to get this sub's thoughts.

>> No.52794233
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52794233

>Just wanted to get this sub's thoughts.

>> No.52794320

>>52794220
yo heckin legit bro a rino i love insurance

>> No.52794455

I read as far as SunLife Financial to know you got life insurance scammed
In uni these kind of companies would recruit (Northwestern Mutual was one) for "financial advisor" positions that were in reality life insurance sales. They would hype it up like you are a wealth manager when in reality it is a total bait and switch. There were other legitimate banks and firms recruiting for "real" fin. advisor jobs so unsuspecting students would interview with them thinkin they are a 'real' firm. All the older students know they are a scam already and make fun of them and anyone who interview with them. I knew one guy who actually worked for them and all he did was mass spam on Linkedin trying to recruit other guys or sell this scam life insurance. I lost a lot of respect for him.
Basically these guys are "financial advisors" but have to also push their company's products like life insurance. They have heavy quotas and under alot of pressure to close so that's probably why he is being pushy.

Long story short you got scammed and should cancel immediately if you still can. Otherwise don't be such a pushover bitch next time, you have to learn your lesson and be able to tell someone to fuck off when you know something is wrong otheriwse you will get taken advantage of again and again