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  • Another NML story

    I had an encounter with a NML agent this week.  I wrote about it on my blog.  You can never let down your guard.

    I dodged buying anything.

    I do not need insurance.

    I am confident that I do not need insurance.

     

    Young docs need to be sure about what you need before you get a visit.  There will always be anecdotes of some disaster but you have to figure out what you really need to insure against.

  • #2
    It’s very easy.

    ”Hi, I am Joe Blow from NML...”

    Click!

     

    Comment


    • #3
      I NEVER answer phone calls from numbers I don't know. If it's important, they'll leave a message and I can choose to call them back, if needed.

      Comment


      • #4
        Now maybe its now worth your time, but are you are to verify what you did or didn't sign, checkboxes you may or may not have checked?  If you feel you filled in the paperwork appropriately, I would be kinda unhappy about a hospital sponsored process that allows 3rd party folks like NWM to access your information for sales purposes versus the specific company benefit is provided.

        Though your didn't know this person was an NWM agent until the end of the conversation, the second the 'CFP' and insurance sales pitch started, giving any information to these type of folks is not a good idea IMO.  Stick to what was required for the employer provided disability insurance.

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        • #5




          Stick to what was required for the employer provided disability insurance.
          Click to expand...


          Or just decline it. I do not believe it can be forced upon you.

          Comment


          • #6
            I seem to mostly hear about NML and their agents aggressively pushing inappropriate permanent life insurance policies.  I guess they're thorough in that they will push all forms of inappropriate insurance.

            About a year ago I decided to take a call from an NML agent just for my own entertainment.  I think I mentioned it in a post somewhere here.  The difficulty was scheduling the calls to happen when I had some dead time (e.g. waiting at an airport), since I didn't want to waste useful time on something like this.  After two calls and about 90 min total I finally achieved victory.  The agent just gave up and said "You know, I don't think this is for you".  I reminded him that I'd offered the same assessment at the start of our discussion and we ended the call.

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            • #7
              I did not take out any additional insurance. I am considering having a conversation with HR about this

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              • #8
                I had a NML agent page me (he had somehow got the link to the internet paging system).

                Tried to sell me whole life when I was a resident treading water...Also tried to sell me insurance of some sort on my 3 month old son.

                I knew nothing then other than he seemed shady. I bought a term life policy only after reading and eventually found the WCI book all because of this shady NML agent...so I guess they’re not all that bad...,

                Comment


                • #9
                  About five years ago I got a call from a life insurance agent from a company named something like 'Bass Ritual'.  I told him I didn't need any life insurance, as whole life is bad, and I had enough money.  He said he would explain it all to me, so I said sure, as I wanted to hear what he would say.  I thought it would be fun to spar with him.   A week later, he came in with his son. He was around 70, his son was in his 30's. It seemed like he was showing his son how it was done.   I asked him why he thought I should get whole life.  He told me that at my age, it was the only insurance I could get.  "But why do I need it?"  He said he himself had bought several policies.  I asked "Why do I need it ?"  He said, sign this form ( permission for labs )  and I'll explain it to you.  I signed the form, which he took.  He didn't try to explain.  He just said he would be in touch.  He gave his son a knowing look as they walked out of my office.   He never tried to explain himself any further, but it was interesting to watch how he ignored my questions.  I had, however, hoped for a more robust conversation.  I was disappointed.  Of course, when they called to set up the blood tests, I declined.  He never called me back after that.  Not my only interaction with whole life salesmen, but just the most recent one.  I guess that steamroller style of selling works for him.

                  Comment


                  • #10




                    About five years ago I got a call from a life insurance agent from a company named something like ‘Bass Ritual’.  I told him I didn’t need any life insurance, as whole life is bad, and I had enough money.  He said he would explain it all to me, so I said sure, as I wanted to hear what he would say.  I thought it would be fun to spar with him.   A week later, he came in with his son. He was around 70, his son was in his 30’s. It seemed like he was showing his son how it was done.   I asked him why he thought I should get whole life.  He told me that at my age, it was the only insurance I could get.  “But why do I need it?”  He said he himself had bought several policies.  I asked “Why do I need it ?”  He said, sign this form ( permission for labs )  and I’ll explain it to you.  I signed the form, which he took.  He didn’t try to explain.  He just said he would be in touch.  He gave his son a knowing look as they walked out of my office.   He never tried to explain himself any further, but it was interesting to watch how he ignored my questions.  I had, however, hoped for a more robust conversation.  I was disappointed.  Of course, when they called to set up the blood tests, I declined.  He never called me back after that.  Not my only interaction with whole life salesmen, but just the most recent one.  I guess that steamroller style of selling works for him.
                    Click to expand...


                    My experience was a little different in that they genuinely attempted to answer my questions.  Of course the answers were the standard ones that sound good superficially, but are deeply flawed for all the reasons we know.  Eventually he gave up.

                    The guy was definitely very skilled at what he was trying to accomplish.  He almost got me interested a couple of times with some true, but incomplete claims. But when I pinned him down on the details, whatever initially sounded attractive was no longer so.

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                    • #11




                      I had a NML agent page me (he had somehow got the link to the internet paging system).

                      Tried to sell me whole life when I was a resident treading water…Also tried to sell me insurance of some sort on my 3 month old son.

                      I knew nothing then other than he seemed shady. I bought a term life policy only after reading and eventually found the WCI book all because of this shady NML agent…so I guess they’re not all that bad…,
                      Click to expand...


                      that would prompt me to send a letter to their manager and involve my institutional IT security department.

                      phone calls and emails suck when they are unsolicited but paging a doctor to sell them something is ridiculously out of line.

                      Comment


                      • #12







                        I had a NML agent page me (he had somehow got the link to the internet paging system).

                        Tried to sell me whole life when I was a resident treading water…Also tried to sell me insurance of some sort on my 3 month old son.

                        I knew nothing then other than he seemed shady. I bought a term life policy only after reading and eventually found the WCI book all because of this shady NML agent…so I guess they’re not all that bad…,
                        Click to expand…


                        that would prompt me to send a letter to their manager and involve my institutional IT security department.

                        phone calls and emails suck when they are unsolicited but paging a doctor to sell them something is ridiculously out of line.
                        Click to expand...


                        I was a naive resident ten years ago and this guy was a "friend of a friend" type of deal.

                        Knowing what I know now I would not have been so kind

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                        • #13






                          I had a NML agent page me (he had somehow got the link to the internet paging system).

                          Tried to sell me whole life when I was a resident treading water…Also tried to sell me insurance of some sort on my 3 month old son.
                          Click to expand...


                          This would be akin to your randomly dropping into his office without an appointment and trying to explain the benefits of a rectal exam and how he needed one right now (even if he was only 35).

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