Is Globe Life a pyramid scheme?

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asked Feb 21, 2022 in Insurance by Musafied (940 points)
Is Globe Life a pyramid scheme?

2 Answers

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answered Feb 22, 2022 by Minmocatfood (6,180 points)
Globe Life is a pyramid scheme when you work for them as the way they work and you basically have to pay to work for them which makes it a pyramid scheme.

However Globe Life is a legit company and you can make money working for them.

While Globe Life is a legitimate life insurance company with an A+ (Superior) rating from A.M. Best, it has a disproportionate number of consumer complaints.

Its 2016 NAIC Complaint Index, which measures the number of complaints a company receives against its size, was 5.10.

Globe Life owns other companies such as Liberty National Life Insurance Company as well as the following.

Globe Life And Accident Insurance Company.
American Income Life Insurance Company.
Liberty National Life Insurance Company.
United American Insurance Company.
Family Heritage Life Insurance Company of America.

Working for Globe Life and selling insurance policies is Commission based.

Globe Life is a commission based company when you work for them.

The Globe Life Insurance company when you work for them is an MLM and they also push their religious beliefs on others.

You're encouraged to recruit people under you and it's 100% commission based.

The way Globe Life Whole Life Insurance Works is the insurance policy builds cash value, and as long as you continue to pay your premiums on time, your insurance benefit will never be canceled or reduced.

When you purchase life insurance you usually have to have the life insurance for 1 to 2 years before it pays out.

However some life insurance policies may pay out immediately after taking it out if needed.

But most life insurance policies require you to have the life insurance for 1 to 2 years before it pays out.

You can purchase life insurance for a parent as long as you have an insurable interest in your parents or you have the parents consent to purchase life insurance for your parents.

You can get life insurance on a grandparent as long as they know about it and as long as they agree to you getting the life insurance.

The grandparent must also be involved with the application process of the life insurance and they must sign papers as well.

Grandparents however can take out life insurance on grandchildren without parents consent.

Grandparents most often take out a life insurance policy on their grandchild as a way to show that they love the child.

Since grandparents love their grandchild, they want to make sure that he or she has life insurance.

Grandparents can get life insurance on their grandchildren without the parents consent.

Insurance companies will sell life insurance policies for Grandchildren to Grandparents and they don't require the parents consent.

Grandparents can take out a life insurance policy on their grandchild any time after the child is born, and they do not require parental consent to purchase the life insurance policy for for the life insurance policy to be issued.

Since the Grandparents are the ones who took out and purchased the life insurance policy on the Grandchild the Grandparents are the policyholder and are responsible for the premiums, and may name themselves or someone else as the beneficiary of the policy when it matures.

For many Grandparents taking out a life insurance policy on their grandchild is a way to show that they love the child.

Since grandparents love their grandchild, they want to make sure that he or she has life insurance.

Another motivation for Grandparents to get life insurance for their Grandchild is as a way to pay for unexpected funeral expenses, or to provide the parents counseling or other support in case of the death of a child.

Gerber Life Insurance is a popular and common life insurance for Grandchildren.

However there are other life insurance for grandchildren and children available such as Ladderlife Insurance but the Gerber Life insurance is the most popular life insurance that parents get for Grandchildren.
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answered Jan 31 by DevilDog_86 (140 points)
I know a lot of people use that term  "Pyramid Scheme" to  Sound intelligent and look like they are informed. The fact of the matter is there is illegal Ponzi schemes, and legal Pyramid schemes.

 Look up Charles Ponzi from the 1930s or Bernie Madoff from the early 2000s, or Sam Bankman-Fried from just recently. Those are ILLEGAL SCAMS.

A Legal Pyramid is where you work, ANY Government in the world, ANY Military in the world., any corporation in the world. You have President of a Company at the top. VP's under him, Director's under them, Managers under them, Supervisors under them, team leaders under them, then you the worker. You can't move up until the guy above you dies, retires, geta fired or is promoted.

THAT is a Pyramid scheme. You Live in it and Work in it. So... what you have been indoctrinated into calling a PYRAMID SCHEME (to keep you an ignorant lemming who stays in their Pyramid scheme), is a direct sales company, that allows you to break out of their system.  Where Their System IS a Pyramid, Direct Sales companies are more like a large set of steps.

In direct sales you can meander up the steps, you can walk up the steps of you can run up the steps. YOU get the rewards for YOUR Own work. Yes, whoever sponsors you, and trains you will get Rewarded for helping you get started and training you. THEY DO NOT GET YOUR MONEY. The company pays them a reward for how productive you become.  That reward is for their efforts to find you, launch you and train you.

The truth is You ARE NOT STUCK under them making pennies while they are making dollars. If you out work them, you pass them financially. Do yourself a favor and get educated before you get on the internet and make yourself sound stupid.

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