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stringpicker
Member
Joined: 23 Jun 2008
Posts: 6
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# Posted: 11 May 2009 20:59
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Does anyone have any experience with an Amway rep offering them $30,000 in cash in return for allowing Amway to take out a life insurance policy with Mutual of Omaha on them? This was recently offered to my mother. The rep told her that as long as she is between 58-70 years of age and she does not smoke, have diabetes type 1, heart disease or cancer she qualifies for their program. The sales pitch is that since the economy is so bad, investors are looking for new ways to make money and they will pay all of the insurance premiums with no cost at all to the insured and collect on the policy at the insured's passing. In exchange for the insured allowing them to do this, they will pay the Amway rep $40,000 in a check, the rep then goes to the bank to cash this check with you and keep $10,000 for themselves and give the insured $30,000 in cash! Since my mother passed his pre-qualifying health questions, the rep left a typical Mutual of Omaha Life Insurance Application with her and told her all she had to do was fill out her part and have her doctor fill out his and it would take about 6 months for her to receive her cash. This sure sounds like a SCAM to me but I would like some opinions from those of you who are much more learned on SCAMS and Amway in particular than I am.
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coolgoose
Member
Joined: 5 Apr 2009
Posts: 26
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# Posted: 11 May 2009 21:08
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Hey 'stringpicker'!!
I'm really sorry, but I cannot help you with this topic. I would love to, but I don't even know about it. Take care.
Everyone is here to HELP. I am also available at any time you need me.
Later,
CoolGoose~
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stringpicker
Member
Joined: 23 Jun 2008
Posts: 6
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# Posted: 11 May 2009 21:38
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Thanks coolgoose, I appreciate the sentiment and offer you the same!
stringpicker
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mountainmom5
Joined: 30 Aug 2007
Posts: 1626
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# Posted: 13 May 2009 11:13
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SCAAAAAMMMMMM - RRRUUUUNNNNN!!!!!
I have a sneaking suspicion you would end up owing SOMEONE $30,000.... boy they are really getting sneaky with this scam. It works the same way as when someone from overseas or under the sea, maybe, offers to send you a check and then you have to somehow cash it or wire them some of it back... yeah, it ALL disappears from your account plus the amount they now have in their pocket ... leaving you with a huge minus in your account.
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stringpicker
Member
Joined: 23 Jun 2008
Posts: 6
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# Posted: 13 May 2009 20:18
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Hey Montana Mom, thanks for your input. I really do appreciate it! It does smell of a scam and I was skeptical from the start but I always like to seek advice and opinions from others who are better informed on any subject than I am.
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morton19
Member
Joined: 29 Nov 2008
Posts: 4
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# Posted: 22 Jun 2009 02:27
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My wife and I have been in Amway for a few years now, and we keep in pretty close contact with our upline. I have never heard of this before, we do not offer any insurance programs. Just stay away, and I would suggest reporting this to some authority, it sounds like fraud to me.
Just my 2cents, hope this helps
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stringpicker
Member
Joined: 23 Jun 2008
Posts: 6
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# Posted: 22 Jun 2009 20:19
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Thanks for your two cents morton19, I have already told the gentleman that I am not interested. His answer was, "well you must not need the money" and that was that.
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asebf
Member
Joined: 11 Sep 2007
Posts: 267
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# Posted: 23 Jun 2009 13:15
Reply
This / he needs to be reported to the state insurance commissioner.
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Bob
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stringpicker
Member
Joined: 23 Jun 2008
Posts: 6
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# Posted: 23 Jun 2009 21:23
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Yes Bob, it's very unfortunate that we have to constantly be on the lookout for next new scam that comes down the pike. It's exhausting having to live with my guard up all of the time.
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