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Stock-Freedom t1_jadm75u wrote

Search Google for “Whole life insurance scam Reddit”.

Yes. Your friend took advantage of you for a commission.

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WyoGuy2 t1_jadrsr9 wrote

This is particularly egregious because it looks like OP didn’t need any life insurance at all. And then his friend goes and convinced him to buy the worst type.

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Stock-Freedom t1_jadtqt0 wrote

Definitely. Horrible “friend”.

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DTS_Sanchez t1_jae2ydi wrote

Typically why I prefer not to do business with friends. I was young and dumb and was caught slipping.

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meadot01 t1_jaeapwq wrote

To be fair your friend may have believed in the product. The marketing on these is great and easy to fall for. I've known some people starting out in insurance or finance that sell these and pretty sure they don't even know how bad they are - at least at the start. If they are still doing it give years later - then they are probably horrible people.

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DTS_Sanchez t1_jaecapu wrote

You hit the nail on the head. This friend is now almost done with medical school after only a few years in the insurance biz post college.

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DTS_Sanchez t1_jae2o6m wrote

Yeah thats why ive been confused. Like I said I got in blind, kinda forgot about it. I recently brought it up to one of my coworkers and they said it didn't sound right.

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intherelikeswimwear1 t1_jaf1zxm wrote

Confirmation bias much? Of course research “scam” after anything will give you the results that validate that.

Not that you’re asking OP, but the best advice I’ve ever gotten is to never take advice from someone else’s experience, especially on Reddit.

Was your friend trying to scam you for a commission? Potentially. We’re they doing the best they could with the way they were training? Potentially.

Truth is that you don’t know, so don’t assume.

Seek to understand more and ask questions. Ask people who’ve had whole life and/or sell it. Be curious to learn, don’t take someone else’s word for it.

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DTS_Sanchez t1_jae2if9 wrote

Thanks for the advice, sucks to realize that but ill cut my looses and collect whats available!

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