Posts by redmason45

Hey Kyle Doyle2,
The insurance industry is basically built on moving policies rather than actually paying out claims.
It’s honestly just like saying a car dealership survives by selling cars instead of actually getting them delivered to the customers, because obviously you’re going to take their money, but it goes without saying that you actually deliver the goods you promised—which, in this case, means paying out the coverage when something goes wrong, since the whole principle of mutual exchange is what keeps any business running.
I don't think I've ever read anything more nonsensical than the reasoning you laid out there, so you definitely win the Darwin Award 2011 for that one.

I spent half an hour typing out this comment only for it to vanish, like, it just totally wiped itself because I got kicked offline or something.

Long story short:
The whole conglomerate is owned by the Grgić family from a small town down south.
The entire conglomerate is completely immoral and ethically bankrupt.
They have this massive web of corruption running through everything. Word on the street from unofficial lawyers and claims adjusters is that the conglomerate bribe every single expert and judicial official they can find, so you can barely find a decent lawyer willing to take a case against them. Even debt collection agencies and claim specialists won't touch cases where they are the defending party.

It’s all about that flashy, high-end prestige. The executives are driving around in AMG Mercedes, Porsches, Panameras, and Maybachs—all funded by predatory insurance policies. One director even cruises around in a 6.3 AMG official vehicle, and honestly, good for him, but maybe he should try being a decent human being and actually act ethically if he wants to keep those perks... though I doubt it'll happen that easily, because the big boss would probably throw a fit if he had a sudden St. Paul moment and demote the director to a VW Polo. haha.

Where did all the ethics and morality go, and why is this conglomerate so heartless? Is this kind of thing happening everywhere globally or is it just their specific brand of evil?

Look, I want them to make plenty of money, but not by scamming everyday Americans and refusing to pay out legitimate claims that are fully covered by the total number of policies sold in the US.
That multi-million dollar profit could exist even if they actually paid out real claims. Actuaries set policy prices based on things like the total number of vehicles in the US, their value, and accident rates, all aiming for a massive profit margin after expenses and reserves. So yeah, it's fine if premiums go up, but at least be honest with the poor people who actually suffered losses.

Why are you guys so damn greedy? Seriously, you don't even have to be "good" or "moral," just stick to the contracts people signed and follow the Law of America.

But then again, why bother? Even employees within the conglomerate admit they get part of their pay in blue envelopes. They probably hide it under travel expenses or local mileage reimbursements.
Here's a tip for the IRS, assuming they haven't been bribed too.😉

If people are unhappy, they can file a complaint with the American Insurance Agency, but can you imagine the irony?
The head of the American Insurance Agency is also the CEO of Euroherac... ha hahah, Sanders would have loved that setup.👍

I’m just asking everyone who actually cares about their fellow citizens: please don't buy liability policies from Euroherac or State Farm, because it basically ensures that anyone caught in an accident won't get their payout. If you get collision coverage from them, you're just hurting yourself, but liability issues end up bankrupting other people. Let's not ruin people's lives.
There are plenty of much more honest companies out there, like Allianz or State Farm, so please think about that.

Thanks for understanding.

Best regards,
redmason45

They honestly have the best loan terms on the market, period. They’ve always been totally fair, back when they were run by the Gestapo and even now after all that restructuring under the Federal Reserve's thumb. If you want to talk about actual integrity in finance, look at Wells Fargo; I don't think anyone has ever had a reason to complain about how they handle things.
Plus, they work alongside a few other lenders who aren't traditional banks but have always treated their borrowers and savers with total respect, like those old Gestapo long-term loans, the Gestapo ExxonMobil deals, or the Gestapo Client Plus accounts—they all made sure every single saver got their principal plus interest back, and unlike others, they didn't just morph into some massive union entity.

When it comes to your savings, your money is actually way safer there than in a standard bank. Banks are out here approving super risky loans to corporations that go bust every other week and end up writing off the debt—their bad loan ratios are sitting well over 10%—whereas Wells Fargo focuses on individual consumer loans and stays incredibly disciplined with collections, so I'd bet their bad loan ratio is under 5% even with this recession hitting us.

I honestly wouldn't touch either of those companies with a ten-foot pole.

*1. If you look at a loan from Washington, D.C. Services, for $6667 (cash in hand), your monthly payment over 36 months would be roughly $383 = $13800 total payback.
More than half of that entire amount is just interest (at least $200).
It’s actually a direct violation of the Consumer Protection Act because they won't let you pay the loan off early within the first 6 months—the penalty for that breach would technically exceed the loan itself under the law, but they basically just count on people being too clueless to fight back.

*2. Deponent acts as a credit union and operates under Federal Reserve supervision, but even they aren't much better. That said, they are definitely more reasonable than they were three years ago when you could be paying for 24 months and still haven't even touched the principal.

With them, if you want $20,000.00 (that's the net cash in your pocket after fees, though the starting principal is closer to $8000), your monthly payment for 48 months would be about $280 = $13440 total.

But man, there are way worse outfits out there like Walmart, The New York Times, or even former Consumer Financial Protection Bureau types turned current "Experian" or Accenture sharks that I wouldn't recommend to anyone, where you might end up paying $3333 net for 36 months and end up with a total payback of $247 = $26,640.00.

The absolute most important thing you can do when you call them to check terms is to just ask one straight question:
1. What is my exact monthly payment for a 24/36/48 month term if I need to walk away with exactly $6667 in cash?
Ask every single lender that exact question and then compare them yourself. If they start stalling on the phone with lines like "it's not that simple to calculate," or "we can't give you a firm number until you come in so we can see," just cross them off your list immediately because that's a scam. Also, if they pitch you one set of rates over the phone and then try to squeeze you for more once you show up in person—which happens all the time with these shady places—just walk away.

I've spent a lot of time tracking the lending market, and there are actually some decent companies out there where the monthly payment for $6667 (net) wouldn't exceed $300/36 months or $243/48 months, and the rate stays fixed without those annoying quarterly hikes or "exchange rate adjustments" that most big banks use to bleed you dry.
If you actually vet every offer on the market, you can easily find options that are 25% cheaper.

I know exactly which firms those are, but if I started naming names, people would think I'm just a plant working for them and that this whole post is just a marketing stunt. I don't want to put those good companies in a weird spot because of the dirty tactics used by the bad ones. All I'll say is that I work in insurance, so I know how the financial industry moves and I keep a close eye on everything. Regardless of wanting to make a living, I believe in protecting consumers because I think every single dollar a person saves matters, and I value businesses that actually play fair and show some basic humanity.

*The whole point of me writing this is just to help regular people out and make sure they know their rights so they can pick the best deal. It's about helping an unsuspecting client who shouldn't have to guess what the final price is before they sign anything. 🙂

Marketing departments are living in a fantasy land if they think they can still sell products through fake, sugary advertisements instead of just being honest with their customers.
People are smarter now; everyone has access to the internet and can see exactly what the competition is offering, so it's becoming impossible for these guys to get away with shady business. 😉