The Glory Has Departed
Bethany Lutheran Worship on
Wednesday, December 24, 2014
Thrivent Welcomed The Wolf of Wall Street as a Motivational Speaker.
Jeske Is a Member of Thrivent's Board.
"The Love of Money Is the Root of All Evil" - 1 Tim 6:10
GJ - It is well known that AAL/LB (Thrivent) converted whole life policies into Universal Life by giving half the cash value to the salesman as a commission. AAL/LB promised any interest the client or sucker wanted to predict. As everyone knows now, high investment rates are never sustained for long.
One LB salesman illustrated 12%, giving me a fortune at 65. His calculator printed it out. It had to be true. I protested that was impossible, because I knew a little about investments.
One AAL salesman told me that many of his friends retired with a fortune after doing this to their long-term clients. However Universal Life did not pan out and never paid those high rates. The policies tended to tank, requiring more money to keep up the same death benefit. (UL is defined as term insurance with a flexible side portion of cash.)
Those whole life policies had guaranteed values and prices, but the UL replacements promised nothing.
So I think this speaker was ideal for Thrivent - a grifter speaking to grifters.