Posted on 07/21/2004 3:57:48 AM PDT by Archangelsk
When unscrupulous people go after the wallets of underpaid soldiers, it's always offensive, but in a time of war, it stirs special outrage. This week's investigative report by The Times's Diana B. Henriques shows that at least since the Vietnam War, and with increasing intensity since the Iraq war began, insurance salesmen have been fleecing American soldiers, with the tacit - if not explicit - approval of some lawmakers and Pentagon officials.
The abuses center on the sale of complex high-commission, insurance-based investments to recruits. Many of the sales occur on the bases and in the barracks - a direct violation of Defense Department rules. The process is often greased - and tainted - by the presence of retired military officers who have become sales agents or are otherwise associated with the insurers and by the Pentagon's blind eye toward reports that have detailed the abusive practices. Even worse, a sleazy alliance of insurance lobbyists and election-minded lawmakers has consistently blocked Congressional and Pentagon efforts to clamp down on the sales. The cast of characters is so varied that it's difficult to say where a crackdown should focus. A moratorium on these sales pending a Congressional investigation would be a good start.
In 2000, a Pentagon report recommended substantially increased regulation of insurers, or the outright prohibition of life insurance sales on bases. The industry cried foul, and Congress and the Pentagon responded timidly. Ditto last summer. This time, Washington must be moved by the facts, not the lobbyists. These investments are usually wholly inappropriate. Many of the soldiers do not need any more insurance than they receive through the military for a nominal cost. Those who do would probably be better off with something other than the typical tad of coverage offered by these hucksters for $100 or more a month. The men and women in uniform put their lives on the line. They shouldn't be coerced into turning over a chunk of their pay, too.
It is not USAA. USAA is one of the most outstanding companies, not just insurance, in the U.S. They do not use arm twisting tactics.
Many of the soldiers do not need any more insurance..."
Right, the New York Times knows what's best for them. Let's see, these are the same people who:
-Think Bill & Hillary Clinton are wonderful people.
-Want the military full of gays.
-Are strong abortion enthusiasts.
-Never saw a weapons program they didn't oppose.
Sorry, but the troops are adults who can decide if they want insurance or not and I'll take their judgment over the New York Times almost any day.
America, you better be an O-3 at the five year mark. :-)
I remember those days myself, when I was a junior NCO...incredible pressure by the senior Non-coms's...for everything...I used to buy groups of raffle tickets for my squad leaders that had less money than me just to get the hounds off their backs...roger on the overhyped battles at Erwin. The real "battle" starts in the RUFMA, during turn-in...'course, if you were there with the 18th Airborne, you went light, and probably didn't draw too much, and if you were there in the mid '80's, you brought your own stuff...
I lobbied the administrator for a promotion to no avail. So unless the original Capt America gives up his name (I may even throw in a few adult beverages to spice up the deal!) I am terminal rank.
I think the article is referring to these guys. Used to be called USPA and IRA. Typically hired retired military as salesmen. They would hang out at the O' Club at lunch and solicit for "Financial Planning" seminars which were nothing more than high pressure sales pitches.
"On the other Colonel, you may stay."
absolutely...some of my favorite drinkin' partners were COL's...
Ah, yes... USAA... It used to be strictly for commissioned, (and warrant), types. Then, because their client base was badly dwindling, they admitted enlisted members.
It'll be a very cold day in Hades before I give my money to an organization that does or did discriminate against the enlisted ranks in any way.
I get my insurance cheaper through the totally civilian market.
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