Is World Financial Group A Scam – World Financial Group Review

It’s not easy to make money selling life insurances.

It’s even harder to make money selling life insurances for World Financial Group (WFG).

I am not saying World Financial Group is a scam.

It has to do with the truth about working for the World Financial Group.

Over 99% of associates make no money with WFG. It’s not because these associates are lazy. It has to do with the Multilevel Marketing (MLM) business model.

This World Financial Group review will expose the truth about WFG MLM business opportunity.

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World Financial Group Review Summary

Name: World Financial Group

Business Type: MLM

Investment: $125

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  • You can join the World Financial Group MLM to make money by offering financial products and recruiting new associates.
  • WFG uses the 3-3-30 scheme, which means you recruit 3 people to join the business to sell 3 life policies within 30 days.
  • When you are inviting to the World Financial Group job interview, it’s a sales meeting. You are one of the 3-3-30.
  • The World Financial Group MLM business opportunity uses recruiting events as a way to sell life insurance.
  • If you don’t want to destroy your relationship with the people you love, World Financial Group MLM is not for you.


What Is The World Financial Group?

World Financial Group is a sales and marketing division of Transamerica Company that sells life insurance and various investment products.

The company offers individuals an opportunity to become financial services business owners through its MLM program.

WFG promotes itself as a completed business platform dedicating to provide every family the financial knowledge, products, and resources to achieve financial freedom.

The company adopts the 3-3-30 strategy to sell and recruit associates. This business strategy expects every WFG associate to purchase a life policy through the company.

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WFG History

The company was fined $100,000 for false marketing and failure to properly supervise its sales agents.

WMA was in serious legal and financial problems with regulators early in 1998.

The company was fined $100,000 for false marketing and failure to properly supervise its sales agents.

Then in 2000, WMA agreed to pay an additional fine of $125,000 for hiding nearly 900 customer complaints against the company.

Purchased the core assets from WMA enable Aegon to create the World Financial Group Insurance Agency.

In 2008, the World Financial Group becomes part of the Transamerica Financial Services company.

By 2019 the company has over 42,385 independent life licensed distributors offering WFG financial services throughout the United States, Canada, and Puerto Rico.

What Does The World Financial Group Do?

World Financial Group primarily sells insurance products through financial planning services, helping middle-class families to grow and protect their assets.

The company financial planning services address these problems:

  • Asset protection through life insurances
  • Retirement strategies with annuity products
  • Long-term care insurance
  • Business succession solutions

Financial planning services are used as a vehicle to sell insurance. WFG is an insurance agency.

When you join the World Financial Group, you become a financial planner earning commission selling Transamerica insurance products.

Let discuss the quality and price of Transamerica insurance products.

World Financial Group Life Insurance

World Financial Group life insurance products are offered through Transamerica.

Transamerica is a reputable insurance and investment company that has been in business for over 100 years.

Owning a World Financial Group life insurance policy is legit because the product is backed by Transamerica.

However, you will be paying a higher premium price for a Transamerica life insurance policy.

So, to help associates sell these expensive insurance products, Transamerica adopted the MLM business model and purchased the World Financial Group.

Do you know why?

World Financial Group MLM Review

World Financial Group is an MLM company focusing on the 3-3-30 recruiting structure to sell insurance products.

Under the 3-3-30 MLM structure, associates are instructing to sell life insurance by recruiting not selling, because every WFG associates are expecting to purchase a life insurance policy if they do not already have one.

This MLM model works like this:

  • Each associate invites 3 people to attend the World Financial Group recruiting event every 30 days. This recruiting is a sales meeting.
  • When the recruits attend the sales meeting, they get persuaded to join WFG MLM as associates.
  • The new associates learn financial planning by purchasing life insurance as an investment and protection for their families.
  • Each associate purchase an insurance policy, resulting in 3 sales.

So, the World Financial Group MLM business strategy is, recruiting 3 people to make 3 sales every 30 days, 3-3-30.

If you attend the WFG job interview or a business opportunity event, remember, this is a sales meeting.

Now you know why over 99% of associates make no money.

Is World Financial Group A Pyramid Scheme?

We cannot call World Financial Group a pyramid scheme, because the company does offer real products, life insurances.

According to the FTC, MLMs are pyramid schemes unless they offer real goods or services. Legally, WFG is not a pyramid.

But this doesn’t mean you can make money with World Financial Group.

The 3-3-30 scheme is designed to sell life insurance to you, your family members, and your friends.

The truth is, World Financial Group business opportunity is an opportunity for WFG to sell the recruits their products, “recruiting to sell.”

You and I might not like this MLM scheme because we don’t want to take advantage of our loved ones.

But to others, 3-3-30 is a great opportunity for them to make money.

Working For The World Financial Group

To build a successful career working for the World Financial Group, you must commit to the 3-3-30 scheme.

Your job is to contact everyone you know and recruit them to join your business. Sales will follow when the recruits join WFG.

As an associate, you are a business owner. You are working to build your own World Financial Group Insurance Agency.

Because you are not working for the World Financial Group, you are responsible to pay for all the business expenses.

The first business expense you must pay is the fees to join the World Financial Group.

The Cost to Start A World Financial Group Insurance Agency

The process of launching a World Financial Group insurance agency is not cheap.

The company was fined $100,000 for false marketing and failure to properly supervise its sales agents.

Your cost to join WFG is $125 for agent fees and background checks.

But it costs between $500 to $1,000 to obtain all necessary licenses required by your state to open a WFG insurance agency.

I understand that it costs money to start a business.

But can you recover the costs working for the World Financial Group?

Let’s talk about this in the next section of this World Financial Group review.

World Financial Group Salary Review

World Financial Group doesn’t pay you a salary.

The company pays commissions to you on the sale of products.

Your salary is based on the number of insurance policies that you and your team sold.

The way to understand your salary is by looking at the World Financial Group compensation plan.

World Financial Group Compensation Plan Review

There are 4 types of income that you can earn with World Financial Group. But you must obtain a life license to receive all of them.

Associates without a life license only receive a 25% referral commission.

In this World Financial Group Review, I’ll provide an overview of the 4 ways for you to make money with WFG.

  1. Personal Income – When you sell an investment product, you earn this income.
  2. Expansion Income – This is team commissions or residual income.
  3. Agency Income – This income is from training new associates.
  4. Bonus Income – These are leadership bonuses.

As a new associate, your primary earnings are from Personal Income.

Your income levels increase as you advanced in the ranks.

So, you have to understand the ranks and their requirement to determine your salary.

WFG Ranks

World Financial Group has 6 levels of income (ranks).

  1. Associates – Everyone starts at this level. You begin building your WFG business with the 3-3-30.
  2. Marketing Director (MD) – You advance to this level when you have recruited 3 direct recruiting legs and 5 associates with life licenses.
  3. Senior Marketing Director (SMD) – SMD level requires you to have 1 MD and a total of 10 associates with life licenses.
  4. Executive Marketing Director (EMD) – You become an EMD when 3 of your recruits become an SMD.
  5. CEO Marketing Director (CEO-MD) – This level requires you to recruit and train 6 SMD.
  6. Executive Vice Chairman (EVC) – The highest level you can achieve with WFG. EVCs must have 9 SMD in their team.

To earn better commission rates or higher income you must advance in levels.

The way to move up the levels is by recruiting and teaching your recruits to do the same. This is what the WFG 3-3-30 is all about.

Now we can discuss your salary working for the World Financial Group.

World Financial Group Compensation

The commission rates and bonuses are paid based on ranks.

You get compensated more with higher rank levels.

Level 1 – Associates

Your primary salary is from Personal Income.

There are two groups of WFG associates, training associates, and associates.

Trainees associates are without a life license. These associates earn a 25% referral commission on each sale.

Associates are life licensed agents. They qualify for a 35% commission with their personal sales.

Level 2 – MD

As an MD, you are qualified to receive Expansion Income and Agency Income.

Your personal sales commission increases to 50%.

You earn the Expansion Income up to 6th Generation totaling 17.5% in commissions.

You also qualify to receive the 7.75% Agency Income (Supervisory Override Commission) for mentoring and coaching newly licensed associates.

Level 3 – SMD

SMD Personal Income increases to 65%.

You receive the same rates for Expansion Income and Agency Income.

SMD earns a new salary, the “Bonus Income.” You earn a 40% share of an override on our entire team.

EMD Level & Above

Executive Marketing Director level and above earns all the commissions of the SMD level.

However, EMD receives an additional 30% Super Base Commission Bonus, and CEO-MD receives another 30% Super Team Commission Bonus.

Many people look at the WFG compensation plan and think that they can make a lot of money.

The truth is World Financial Group commission rates are much lower compared to other insurance agencies.

Other insurance agencies pay associates up to 70% in commission. World Financial Group max commission rate is 65%. This is not good for you.

Then why people work for World Financial Group?

Because World Financial Group sells them a dream, an opportunity to be a business owner.

With WFG MLM, everybody is a business owner, but only a few will make money.

If you are looking for a legit work from home opportunity, I invite you to read how I make money every day online.

Is World Financial Group A Scam?

Using the 3-3-30 scheme to sell life insurance is bad, but it doesn’t make World Financial Group a scam.

WFG is not the only company that takes advantage of people’s desire to become business owners to sell products.

That’s how MLM companies make money.

People claim WFG a scam because they join the MLM opportunity and cannot make money.

You need to understand that the Multi-Level Marketing (MLM) business strategy is to sell products to you, your family members, and your friends. It’s not for you to make money.

The World Financial Group recruiting event is a sale event, searching for the next dreamers to buy into the 3-3-30 scheme.

When you join WFG, you are expecting to purchase a life insurance policy. Then you recruit friends and family members to buy more life insurance from World Financial Group.

Now, you know the truth about the WFG business opportunity.

Is World Financial Group a scam to you?

World Financial Group Complaints

The top complaints against the World Financial Group registered with the BBB have to do with recruiting.

People come to the WFG interviewed with the hope of making a lot of money.

A few of them quickly realized that the World Financial Group MLM is a recruiting business, make money recruiting friends and family.

The Truth About The World Financial Group

Here is the truth about World Financial Group:

  • World Financial Group is an MLM using the 3-3-30 scheme to sell life insurances.
  • The company sells you a dream, not a profitable business opportunity.
  • The company recruiting event is a sale event, searching for new associates to sell life insurance to them and their loved ones.

Is this the type of business opportunity you want?

Just ask yourself this question, why do you start a business?

To make money, right?

And to make money you invest in a legit and profitable business opportunity.

World Financial Group is an MLM scheme to sell life insurances, not for you to make money.

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I hope this World Financial Group review answers your question, is World Financial Group a scam?

Until next time.

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