Do not buy any mega life policies!!!
What the Sleazy NASE Agents (most are unlisted, or work from cell phones) for MEGA Life are not showing you in the "presentation, " and why they don't have ACTUAL COVERAGE LIMITATIONS data to leave you... Is that if you have to make a major claim there is a MAXIMUM amount they will cover that MAY expose you to possible financial ruin. How far do you think $6,000 to $18,000 maximum benefit (per occurence) will go if you get cancer or have to have bypass or open heart surgery ($250,000).
You won't live long enough to reach the $1 million cap. And your deductable is "per occurence" not "per year." So if you have a $2000 deductable, and you have to go into the hospital 3 times in the same year, say goodbye to $6000. The fact that they try to sell you extra "riders" is proof of how easily you can be exposed to financially catastrophic bills that MEGA will not cover... Which rider should you pick? How much of a gambler are you? Good luck.
And don't you think that instead of paying $8 to $45/month for association fees... Wouldn't it make more sense to buy more actual insurance coverage... From a real insurance company??? On top of high commissions, the scam is that the rep pockets half of that "association" fee... That's why they want to sign you up for the GOLD PLAN.in our case the rep said that the GOLD plan was covered in the $8/month fee, but the bank started drawing $45/month, which is the actual cost of the GOLD plan. When the rep hurried me to sign papers, he also ran past a bank withdrawal notice.
Because it was in the middle of a work day, I was so rushed I didn't notice. I said I had wanted the company to pay for it, but he said, by law, that he needed a personal check for the first month. Hmmmm. Then he filled in all our financial info after he left... Hoping I wouldn't see the $45/month withdrawal. MEGA said the rep had sent in a voided personal check. I asked for a copy, and they said they could not give me one. You figure it out.
The bottom line is... IF THEY AREN'T GOING TO LET YOU SEE THE ACTUAL, (LOW) MAXIMUM COVERAGE LIMITATIONS when you meet face to face, DO YOU THINK THEY CARE WHETHER YOU UNDERSTAND THE POLICY OR NOT, after you've signed on the dotted line??? After you receive the coverage contract, they're long gone.
A rep might tell you that this is "major medical coverage, " but the policies are highly "EXCLUSIONARY." THEY ARE "LIMITED BENEFIT POLICIES, " PERIOD, and it should legally be declared at the outset of the sales pitch.instead, they will throw out numbers like 80% and 100%, hoping you won't ask any serious questions.
Why do you think they just had to settle a multi-state class action lawsuit? Among other things, they were forced by a federal judge to say that they would show in the literature that NASE was owned by the owner of MEGA Life, now his son, and they are financially tied together. But don't expect the sales pitch to change. If you were to see the LIMITATION $ AMOUNTS, you would never buy the policy.
They legally want to hide behind their confusing contracts that many NASE/MEGA reps don't even understand. Most people trust others, but you rarely have time to read a thick contract when you're busy trying to earn a living.
Another "loophole" is that OUTPATIENT SURGERY (where you are in the hospital for LESS than 24 HOURS,) which the MAJORITY of minor surgeries are, is ONLY covered up to a MAXIMUM of $1500, after your deductable! That will barely cover the "recovery room" costs. My wife had a 2 hour "outpatient" surgery that cost about $15,000. When we got the bill is when I read the contract, after MEGA said it would not cover the rest, because of the "outpatient surgery" clause.
No rebuttal can deny the fraudulent marketing methods used to not disclose how little these policies actually cover.
The final warning is that this is a $1.5 Billion company, that makes $500 million off the self-employed. That number is growing. I read a recent article that mentioned a Republican in Kansas accepted $25,000 from UICI (the parent company of MEGA, and others).
Companies like MEGA/UICI are pushing Senators & Congressmen to continue to weaken the state regulations and laws that non-profit associations like NASE have to abide by, so that they become less tied by morals and ethics... And if state laws weaken, any suit that would be filed would have to be filed against MEGA/UICI at the FEDERAL level, where laws are much more complicated for attorneys to properly defend their clients.
If you've been scammed by a MEGA/NASE agent you know all I have said is true. If you have not been scammed yet, YOU HAVE BEEN WARNED!
Barry
West Palm Beach, Florida
U.S.A.
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