Is American Income Life a Scam? The REAL Truth Exposed!
Is American Income Life a scam or legit? I’ve seen people asking this question quite a lot lately, so I wanted to check out this work opportunity for myself. I’ve also seen a lot of complaints about this company, but is this company as dodgy as everyone’s saying it is?
Let’s take a closer look at American Income Life and discover the truth…
Company Name: American Income Life
Price To Join: $490
My Rating: 1/10
~ American Income Life Reviews ~
Congrats on finding your way to my review. It means you are smart and do your homework before joining up with something. There are a few American Income Life reviews out there, but I plan to uncover the real truth in mine.
There are so many things I really like about the internet, but best of all is the opportunities the internet provides for making money from home, any time of the day or night. These days we can all make money 24/7.
There is a downside to that though, and that’s all the scammers who target the people looking to make money online. These con artists invent dodgy money making schemes that are designed to do nothing else but take our money, not help us make money. We all have to be cautious.
To help people find decent and profitable ways to make money on the internet, I created this website and write a lot of honest reviews of make money programs and training products. These reviews help us all make the right choices.
When American Income Life flashed onto my radar recently I felt compelled to research the company and write a review on what I found out.
Let’s now see if American Income Life is worth getting into or not.
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What Is American Income Life About?
One of the first things this company tries to hook people in with is statements like “earn $50,000 a year with no experience necessary”, and other stuff like that.
The company was started in Indiana (now in Texas) by a guy named Harold Goodman and his nephew Bernard Rapoport, and what the company does is train people to sell life insurance policies.
So there is a two fold objective here. You can buy life insurance products from this company, and you can also join the company and sell those policies to the general public.
In reality, something they don’t tell people to begin with, is that there’s a third string to the American Income Life bow, and that’s having its members go around recruiting people into the company using the network marketing model.
Although not technically a global opportunity, the company does operate in the USA, Canada and New Zealand.
When people come across advertising from American Income Life, the deal sounds like you’ll be offered a lucrative job after doing some intensive training. The job will be that of an insurance sales rep and the company gives the distinct impression that this will be actual paid employment.
The spiel is that you pay them for the training, then they’ll pay you to be their insurance rep. What they fail to tell people is that they’ll be working on a commission only basis – no wages or no retainer.
They also fail to tell recruits that they’ll be expected to recruit new members in order to make more money.
The biggest red flag here is that you have to pay out a big chunk of money to even apply for this “job”. Now normally when you apply for paid employment, you don’t pay anything. This place wants you to pay them something first before you can even begin with the interview, screening and training process.
It’s all just a bait and switch tactic they’re using, luring people in with the promise of a well paying job, them switching them to the real deal once they’re inside.
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How Does American Income Life Really Work?
If you were to join up, you’ll then be sent for an interview. Instead of this being a one on one type of interview, you’ll find yourself thrust into a classroom situation with a group of other hopefuls all there for the same job.
Now you’ll be hit with the sales pitch. This is where they really hype up their opportunity and put the squeeze on you to pay for their training program, after which you’ll get the lucrative job they promise in their advertising.
The job, in reality, is being the dreaded door-to-door insurance salesperson, and you only get paid if you sell a policy or recruit someone new into the scheme who sells a policy.
And you’ll be really popular too, as everyone just loves door-to-door insurance sellers.
If you decide to buy in and do the training, again it will be hammered into your brain how much money you’ll soon be making. They really talk this up. Part of the pitch is where they say you’ll be earning so much cash that you’ll be able to retire and live the easy life in just 10 short years.
It’s only as you get deeper into the training that you start to realise you’ve also signed up for a multi level marketing scheme where you’ll need to recruit people. And it’s also as the training goes on that you realise there’s no actual “paying” job at the end of it all, but just a commission only position.
When the training is finally done and dusted, then it’s time to go out into the world and get down and dirty selling those insurance policies and trying to sucker more people into the exact same scheme you were suckered into.
The American Income Life Products
Okay, since this place is all about insurance policies, let’s see exactly what American Income Life has to offer in its product line.
There is a big focus on pushing these policies onto labour unions and workers, schools, churches, youth groups and the like.
I won’t go into detail here, but just offer a snap shot so you know what there is.
Whole Life Insurance – This policy lasts a lifetime and has an ongoing premium to pay.
Term Life Insurance – This offers limited time cover, with premiums going up in price when you renew the policy.
Accident & Supplemental Health Insurance – This covers members against both illness and accidents.
Accident Protection – Cash is paid out in the event someone is either seriously injured or killed in an accident.
Hospital Indemnity – Covers additional expenses for long hospital stays, whether it be because of an illness or an accident.
Final Expensive Plan – This covers funeral expenses of the policy holder.
Cancer Protection – In the event of cancer and loss of income, this policy is designed to provide funds to relieve the financial burden of income loss and treatment expenses.
Terminal Illness Rider – In the event where a diagnosed terminal illness gives the recipient less than a year to live, half of the insurance policy will be paid out as an accelerated benefit payment.
Critical Illness – A policy that helps out with medical expenses associated with a critical illness, such as a heart attack or stroke.
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How Do You Make Money With This?
Like any typical MLM type of compensation scheme, there are 2 main ways to make money as a rep for American Income Life:
- Directly sell insurance policies for a commission
- Recruit new members into the scheme and earn commissions on their sales
First you’ll pay a fee to take part in the training. Once you’re out on the streets working as an unpaid rep, you’ll be covering all of your own business related expenses, even though you don’t actually have a business.
Commissions on direct sales are set at 50%, but the company withholds 35% of all your commissions for a period of 6 months (not sure why they do this).
You also earn smaller commissions on any sales your direct recruits make.
Common Complaints About American Income Life
The company has been running for many decades, and by all reports, complaints about American Income Life have existed for almost as long as the company itself.
Because of the internet, negative press about this company is proliferating almost on a daily basis now.
Below I’ve included just a couple of screenshots of typical complaints levelled against this insurance/network marketing company.
This is targeted at people looking for paid employment, only they bait and switch people at the group interview stage.
So they lure in the job seeker crowd, then switch them over to paying for training with the promise of a big paying job at the end of it.
Then the company switches things up again once the training begins, and you learn you’ll be working for commissions only and also be required to recruit others into the business.
What I Like
- I can’t say I really like much about any of this, particularly when the company uses deception to get people in
- Somehow they have a high rating on the BBB website
- You might earn some money selling these insurance policies
What I Don’t Like and Red Flags
- Bait and switch is used to lure in job seekers and switch them over to a network marketing scheme
- There is no well paying job to be had after the training
- You have to pay for the training, pay to travel to the training, pay for your expenses while doing the training, then pay for all business related expenses once you start your unpaid job
- This opportunity is advertised like it’s a genuine job offer
- You don’t discover the true purpose of it all until you are well into the training
- This company is all about telling lies to hook people in
- The amount of money they claim people can earn going door-to-door selling insurance policies is way, way over-hyped
- The company withholds 35% of all your commissions for 6 months
How Much Does American Income Life Cost To Join?
The training costs $490, but like I mentioned above, there will be a bunch of other expenses associated with just doing the training alone.
So basically you pay to be trained, pay for everything while you’re being trained, then pay all expenses when you’re doing your commission only job.
Is American Income Life a Scam Or Legit?
Whether I would call this an outright scam, I don’t know. In a way it’s very close because of the lies they employ and the false advertising.
I can’t really say it’s a scam though, because they do sell real products, and eventually get around to telling people the truth about what they’re getting into (after they’ve paid for training).
I still think it’s sailing very close to the wind on a number of levels though.
I really don’t like how this company lies to suck people into some unpaid network marketing type of scheme. They don’t advertise it that way. Instead, they make out like you’re applying for a regular job that pays a wage.
There is no paying job at the end of all this smoke and mirrors farce, just a lot of expense on behalf of the jobseeker.
Somehow this company has been managing to get away with this scheme for almost 70 years now. It’s false advertising at its finest.
I highly recommend running away from this company if you ever cross paths with their advertising or job offers.
This Is How I Make a Fulltime Living Online
Unfortunately there’s no green light for American Income Life, but there are some awesome ways you can make money from the comfort of home. My favourite is affiliate marketing, and you don’t even need any money to get started.
Anyone can make cash with affiliate marketing. You just need to be shown how to do it and follow a proven blueprint.
No matter what your money making plans are, it’s all achievable with a simple affiliate marketing business run entirely online. Some people do it just for some extra cash on the side. Others (like myself) make more than a fulltime income from it. I even know some marketers who are quite rich from affiliate marketing.
The reason it’s all possible is because there are no limits on how much you might be able to earn. When you work a job, there are only so many hours in the week. This restricts your income because you are trading time for dollars.
Over time your online gig will create multiple sources of passive income, giving you more financial security as well as the freedom to live a better lifestyle where you have money and time.
So many people say they want that, but unless you are doing something that can create that kind of existence, it’ll never materialise.
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