Monday, June 11, 2007

Great American Insurance Agent Attempts Scam on Retiring Teacher

Wonder how far an insurance agent will go to make a commission? How about proposing a ridiculous plan to a teacher to induce her to retire (prematurely) and offering to do her taxes for life for free.

The link above will take you to series of posts on the 403bwise discussion board where a son steps in and asks for help in combating an idiot insurance agent hawking equity indexed annuities sold by The Great American Life Insurance company - a company that is not being "Great" to Americans (in my opinion). The agent stood to make an enormous amount of money while sticking a teacher into a series of products that were not in her best interest.

The teacher put in for her letter of resignation before her son was able to review the proposal from the agent, now she has no job and has to retire - early than she should have.

The 403(b) world has a problem and it is being ignored.

ScottyD
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