- Report: #148658
Complaint Review: Mega Life Health Mid-West UICI - North Richland Hills Texas
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Mega Life Health Mid-West UICI
North Richland Hills, TX North Richland Hills, Texas, U.S.A.
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Mega Life Health, Mid-West, UICI Ripoff Companies..Guilty in Class Action Lawsuit I always check this web-site RipoffReports for listings about companies before I decide to apply. Thank God for RipoffReports..they saved me from wasting my time. North Richland Hills Texas
I'm glad I saved this article from the Dallas Morning News from October 20, 2004..c/o Roger Wu-staff writer..titled UICI LAWSUIT DROPS STOCK 23%.
It says.. "shares of UICI fell 23%..class action lawsuit settlement was certified by a U.S. District court for the Northern District of Texas. UICI sells insurance through subsidiaries Mega Life Health Ins Co and Mid-West National Life Ins Co, marketing through the National Assoc for the Self-Employed (NASE). A company controlled by adult children of UICI's chairman, Ron Jensen, runs the associations. UICI has been sued for what claimants called deceptive sales practices and conflicts of interest. Other class action lawsuits in Mississippi and California were consolidated. This huge stock drop prompted the New York Stock Exchange to demand the company to supply a statement, to supply a reason...but, the company simply replied that it isn't our policy to comment"...!?!?
They lost $324 million dollars in market value after being found guilty in this class action lawsuit. And they have no comment!?!? I bet they don't! This is the type of thing that is extreme enough, a slap in the face, that will even make a high powered salesman...to shut up!!
I'm glad I found this article, that ties together by name, all of the guilty parties...NASE, UICI, Mega Life, Mid-West, Ron Jensen and his children. Perhaps all the people who have been posting rebuttles to this RipoffReport web-site, in their efforts to defend Mega Life...perhaps they would like to post their full names here also...to be listed here alongside all the other guilty parties??
I'm also glad that this web-site RipoffReports exists. I'm looking for a job, and found Mega Life advertising through Monster.com, and I almost applied. But I always check this web-site RipoffReports for listings about companies before I decide to apply. Thank God for RipoffReports..they saved me from wasting my time.
Dennis
Garland, Texas
U.S.A.
It says.. "shares of UICI fell 23%..class action lawsuit settlement was certified by a U.S. District court for the Northern District of Texas. UICI sells insurance through subsidiaries Mega Life Health Ins Co and Mid-West National Life Ins Co, marketing through the National Assoc for the Self-Employed (NASE). A company controlled by adult children of UICI's chairman, Ron Jensen, runs the associations. UICI has been sued for what claimants called deceptive sales practices and conflicts of interest. Other class action lawsuits in Mississippi and California were consolidated. This huge stock drop prompted the New York Stock Exchange to demand the company to supply a statement, to supply a reason...but, the company simply replied that it isn't our policy to comment"...!?!?
They lost $324 million dollars in market value after being found guilty in this class action lawsuit. And they have no comment!?!? I bet they don't! This is the type of thing that is extreme enough, a slap in the face, that will even make a high powered salesman...to shut up!!
I'm glad I found this article, that ties together by name, all of the guilty parties...NASE, UICI, Mega Life, Mid-West, Ron Jensen and his children. Perhaps all the people who have been posting rebuttles to this RipoffReport web-site, in their efforts to defend Mega Life...perhaps they would like to post their full names here also...to be listed here alongside all the other guilty parties??
I'm also glad that this web-site RipoffReports exists. I'm looking for a job, and found Mega Life advertising through Monster.com, and I almost applied. But I always check this web-site RipoffReports for listings about companies before I decide to apply. Thank God for RipoffReports..they saved me from wasting my time.
Dennis
Garland, Texas
U.S.A.
2 Updates & Rebuttals
Lee
Providence,Rhode Island,
U.S.A.
Rebuttal from Current Employee
#2UPDATE Employee
Wed, November 07, 2007
Funny...the stock is now at its highest point in history...$42/share. I have insurance with the company and have no problems with it. There are various levels to the insurance, and it is up to the agent to be honest with people. I have many, many happy customers that also have no issues with it. By the way, since you are so set on Blue Cross, etc. Try typing those companies into Rip Off Report and see what you come up with. There are more complaints for BC than Mega. Face facts - most of the complaints that I read are from people claiming that they use to work for Mega or Midwest. It is a 100% commission job. If they can't hack it, do you think that they will blame themselves? Nooooo. It could never have been their fault. It must be the company! They certainly had no problems taking the advance checks while they were there I bet.
Joe
Cape Coral,Florida,
U.S.A.
REBUTTAL FROM FORMER EMPLOYEE - I AGREE THE WORST!
#3UPDATE EX-employee responds
Thu, July 21, 2005
Everything being mentioned here is completely true. This company has a license to rip people off. They pay millions in settlements without admitting any guilt...and boy to they have dough to pay everyone off. If you get a call from a Mega or Mid West National Life of TN agent, Alliance for Affordable Services, NASE, AFS, their all the same shitty company. Get Golden Rule, Fortis, BCBS, anybody but these guys. I think they'll be sunk within 5 years. They have lawsuits coming out of their ears. The state commissioners will soon see that they are disbanded or barred from selling. If you are getting screwed right now contact attorney James Hoyer in Tampa,FL. They're putting together a nifty lawsuit as we speak.
