A lot of people are now becoming more and more smart and savvy in ensuring that their financial well-being, as well as that of their families, are secure.
This means that there are more people getting financial products, such as investments and retirement funds, healthcare insurance, life insurance, and much more, to help secure their and their families financial future.
So, what about it? Well, this increasing demand for financial products opens up an opportunity for regular people like you to take advantage of and make some money.
How? You say. By becoming a person who offers these financial products and earns when you make a sale.
There are a lot of companies out there that are offering this kind of opportunity to anyone and the opportunity is not really a job, but more of an independent distributor.
One such company that offers this opportunity is called American Income Life. It is an insurance company that offers an MLM business to people looking to make money on the side.
The amount of money you can earn will be dependent on a lot of different factors, so it’s hard to gauge the exact amount you can make.
But is this opportunity really legitimate and worth trying out? Or is it just a scam that you should avoid?
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American Income Life is A Legit Opportunity To Make Money From Selling Insurance
American Income Life is an international insurance company that was founded in 1951. It offers life and accident insurance, as well as supplementary health products.
The company also offers an opportunity to make money through its multilevel marketing business model. As an independent distributor, you will earn commissions every time someone purchases an insurance plan from you.
And since this is an MLM model, you also make money when you build a team of independent distributors under you as well.
Based on what I’ve seen so far, I can say that American Income Life is a legitimate company. They have been in the insurance business for 68 years, so you know the financial products they offer are legit.
As for the money-making opportunity, you can really make money with what this company is offering, provided you are good at selling and recruiting people.
Though American Income Life is legit, there are a lot of issues and complaints about it. Chief among the complaints about this opportunity is the fact the company focuses more on recruitment.
There are also complaints about how the opportunity is marketed to people who are looking for ways to make money.
Similarly, a lot of people are also complaining about how the company’s agents are marketing and advertising the financial products they are offering.
I’ll discuss all of these issues and complaints in more detail as we progress further in this review of American Income Life.
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Who Uses American Income Life?
American Income Life is designed for two types of people with one being those who are looking for financial products, like insurance policies, that they can purchase or avail. The other type are those who are looking for opportunities to make some money online.
For people who are looking for insurance policies the company has several that provide coverage for accidents and death. The company also offers other types of financial products like supplemental health coverage.
For people looking for ways to make money, American Income Life has an MLM opportunity available. You basically make money selling the insurance products that the company has.
You also earn bonuses whenever you get people to sign up and become an independent distributor under you as well.
In the next section, I’ll discuss in more detail how this opportunity works, as well as how much it would cost. I’ll also discuss briefly the different products the company sells.
How Does American Income Life Work?
American Income Life is an insurance company that offers an opportunity to make money through their MLM business model.
As an independent distributor, you’ll make money when you sell the products and recruit new members. Before we discuss in more detail how this work, let’s discuss briefly the company’s products.
The two main insurance policies that the company offers are Term Life Insurance and Whole Life Insurance.
In Term Life, you are basically buying an insurance policy for a set number of years, usually 30-years maximum. This means your family will be financially protected in case something happens to you during the term of the policy.
This policy includes the terminal illness rider, where you can receive 50% of the face amount of the policy in case you are diagnosed with a terminal illness and given 12 to 24 months to live. The fees for a Term Life Insurance also get more expensive as you grow older.
In Whole Life, you are basically buying an insurance policy that will provide coverage for the rest of your life.
This insurance policy also builds cash value over time, allowing you to earn some money as well that you can use for your retirement, to pay off debts, for investments, and so on.
The premiums for this kind of policy are also fixed, so you won’t have to worry about the company increasing the premium you pay on the policy yearly.
Aside from these two policies, American Income Life also has the Final Expense Plan, which provides coverage for your final expenses and funeral.
There’s also Accident Protection, where you can receive money if you are injured in an accident.
The company also has Cancer Protection, where you’ll get money if you’re diagnosed with cancer to offset the cost of the treatment.
You can also avail of the Critical Illness policy, where money is given to offset the cost of critical illness treatment, and the Hospital Indemnity, It provides cash payouts that can cover hospital bills due to sickness or accidents.
Now that we know what the products are, it’s time to discuss the compensation plan of the opportunity. The first way you can earn is through the 50% commission you get for selling insurance policies.
But, you will only receive 65% of that commission and the other 35% will be paid after 6 months. For example, you sold a policy worth $$5,000, your commission is $2,500.
However, the company will only pay you $,1,625. The remaining $875 will be paid after 6 months. The other way to earn money is through the residual income.
This means that you make money whenever someone under you sells an insurance policy. You get to earn a percentage of the sale.
To become a distributor, you need to pay $490. Aside from that, you also have to pay for any other expenses that you incur on the job.
What Are People Saying about American Income Life?
The reviews and comments about American Income Life are generally mixed, with the majority tilting towards the positive side.
The company currently has an A+ rating with the Better Business Bureau. Though the BBB rating is high, the customer reviews are just a measly 2 Stars.
This means that there are a lot of people complaining about the company. Now, one of the chief complaints about American Income Life is the fact that the company’s focus is on recruitment.
A lot of members are saying that the company and the mentors above them want them to focus mostly on recruiting.
They want independent distributors to focus more on getting new people to become distributors because this is where more money is made. This is a problem because this makes the opportunity seem like a pyramid scheme.
Another common complaint is that a lot of these distributors mislead people into believing what they are getting themselves into is a job and not an MLM opportunity.
But distributors are not the only ones at fault here since the company itself make it seem like you are applying for a job and not a business opportunity.
You undergo an interview process, training, contract signing, and so on, the process that you usually undergo when you apply for a job.
You’ll only start to realize it’s not a job when they require you to pay the $490 fee. You may only realize it’s an MLM opportunity once you’re inside and don’t get a regular salary.
The misleading tactics don’t stop during recruitment, as there are also people complaining that their agents mislead them about the products being offered.
Some customers were led to believe they are getting a certain product only to realize in the end that they actually paid for an insurance policy.
Worse, some distributors don’t even process the cancellation that customers are requesting, resulting in the client continuously paying the premium.
What I Like about American Income Life
Now that we know what American Income Life is and what it brings to the table, it’s time to discuss what I like about this opportunity.
- One of the first things that I like about American Income Life is the fact that the company has high BBB ratings and Financial ratings. This means that despite the many complaints against the company, rating agencies still recognize them as a solid company with solid products, hence the high ratings.
- I also like that American Income Life’s compensation plan is actually very simple and easy to understand. One of the common issues with many MLM opportunities is that their compensation plans are complicated so it’s good to see that this one isn’t.
What I Dislike about American Income Life
Of course, not everything about American Income Life is good and dandy, as there are also several things about this opportunity that I don’t like.
- The first thing that I don’t like about American Income Life is that they advertise their money-making opportunity as a job instead of saying it’s an MLM opportunity from the beginning. Misleading people is not the best policy in business, it only creates disappointment.
- I also don’t like that uplines in American Income Life want their downlines to concentrate more on recruitment rather than selling the product. The huge income potential presented in having a lot of downlines selling insurance is hard to pass up. That’s why a lot of tactics are geared towards recruiting people rather than selling the products as there is more potential to make money there. This is not good because it makes the opportunity seem like a pyramid scheme.
- I’m also not a fan of how expensive becoming an independent distributor of American Income Life can be. Not only do you have to pay close to $500 just to join, but you also have to shoulder any other expense you might incur. Add the fact that you are required to attend training and conventions, this business can become expensive. And if you don’t make money here, this means you will lose money.
Do I Recommend American Income Life?
After learning more about American Income Life and what it can really offer, I can say that this is a money-making opportunity that I don’t really recommend.
Though their policies are good and the ratings are high, the money-making side of this company is not really worth investing in.
The fact that it uses the MLM model is already a big disadvantage to anyone who wants to try to make money from it.
MLM opportunities are not really a good way to make money as you’ll need to put in a lot of effort, dedication, passion, and luck just to earn money.
And if you want to become rich with MLM, then you’ll need more than what I mentioned above. As for the skills needed, I believe sales and marketing, leadership, and the ability to motivate people are important.
Without at least one of the skills I mentioned above, you are unlikely to succeed in MLM. This is why I don’t recommend this type of opportunity.
There are a lot of better and easier money-making opportunities available out there than what MLM offers.