Complaint Review: Cornerstone America - Tulsa Oklahoma

A few weeks after I posted this complaint, the person I named above sent me my refund back in the original form I paid it. I am thankful not to have gotten involved, however, the person DID enentually honor his word by refunding my sales/licensing fee. I appreciate that, though it did take a lot longer than it could/should have. I'm over it.

Well, I posted my experience on another complaint. But what concerns me I have not seen answered here, is their benefits program or bonuses they pay based on performance of the agents. From what we understand through materials they gave us, is there are 3 types of stock bonus type programs (ASAP's). You gain a certain amount of shares for your performance as a bonus- but it is not a straight true cash bonus as other companies would pay from how we read things. Meaning, if we understand correctly, you work hard day in and day out and you are on straight commission. What the company honors you with bonuses periodically into one of the 3 types of SAP's (stock acumulation plans) kind of looks "weird". I mean we read that in one instance 25% of your bonus earned goes to one SAP plan and you can't touch that. Other bonuses earned go to another, and still a 3rd plan allows you to make cash deposits (buy more UICI stock) which they say they will match 100%. Just like the others, you cannot touch them either- NOT unless you have evsted 10 years cleared service can you then benefit 100% from the bonus you earned from your hard work efforts over those years. There was a chart provided that showed from 1-10 years what your vestednesss was, and a bonus is suppsoed to be a bonus, right? Because if you are working hard to earn this bonus, and have no real say over how much or what part you can have, you never get all of it. You are "forced" in another word to have that further placed in a stock purchase program from UICI which you cannot touch for many years, or else will lose a good part or all of your bonuses depending how long you stayed on with Cornerstone. And what also is stated, that should you not meet full 100% vested time (10 years) the difference between what your vested level was and what is left accumulated from your bonuses in these SAP programs, is then distributed to the balance of ongoing agents of that firm. Is this right or does it make sense to anyone out there? Because I have no problem with a savings plan or IRA or host of other investment options for self-growth long term. What is the concern, is if you earn something from your hard work & efforts, and another party says you cannot have all your bonus we promised, as you must place part of that into our private stock program or else you will be penalized; well this statement just seems to violate a few federal wage & hour laws for one, not withstanding what the SEC laws would be if such a scenario truly exists with Conerstone "playing" with anther's stock they earned giving that to others without consent of the true purchaser/owner. Anyone else wonder about this or can clarify this better from what we understood from the materials? ike I said in another post, I read everything they gave me. But it is very surface and limited stuff. Nothing of depth nor can I get direct answers when we have tried to call Mid-West Life or other parts of the UICI family.