People need to go to prison
Senator Josh Hawley “What you're telling us is these big insurance companies went to a consulting firm, McKinsey, and asked them to design a program to help rip off policyholders?”
“That is correct, sir”
Josh Hawley “And that has that been successful? I mean, has their program been successful in ripping off policyholders?”
“It's been incredibly successful, sir. It is actually part of this systemic fraud that's occurring every day now.”
I know this might be a side tangent but if we know that Allstate and State Farm are doing this what is stopping other insurance industry leaders from engaging in this?
Why is it that IULs are considered safe because of the very large and prominent insurance industry? What happens when the insurance industry is shown to not be as safe? Then does an IUL investment safety and low risk come into question?
There is a lot to untangle.
Every company I know, and I deal with many many companies, either use the methods McKinsey and Company designed or a variant of the same system.
Fair point and I am interested in seeing how this unfolds.