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At least six states are currently investigating American Family Benefits Group, Inc. (AFBG), marketers of a “too-good-to-be-true” opportunity.
For a mere $99, one can be named a “Marketing Executive” for AFBG and can then enroll others for a similar fee (keeping, of course, part of that fee).
Additionally, a marketing executive may then purchase a $280,000 life insurance policy and name AFBG as the beneficiary. Why? Well, that policy can then be used as collateral for a bank loan. Other benefits associated with the offer include a $70,000 life insurance policy with no restrictions on who can be the beneficiary, a $5,000 certificate of deposit and a guaranteed $2,500 credit card.
And don’t forget the special deals on long distance phone service, rental cars and other such things.
The underwriter, according to AFBG literature, is Massachusetts General (MG), but MG denies an involvement whatsoever with AFBG. AFBG, of Orlando, Florida, is being investigated by Alaska, Florida, Illinois, Louisiana, Michigan and Missouri.
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