Making a difference for Wally

by | Apr 1, 2016 | Blog, Moneywise | 0 comments

How WPA helped an 87-year-old World War II veteran

I recently heard about a bad experience that one of our new members had with another company, and I think it is a story that needs to be shared.

wallyI heard the story of Wallace “Wally” Stephens, a member of Branch 8340 Baltimore, from WPA Sales Agent Steve Modell of Modell Brokerage in Wayne, Pa. After hearing the story, I had the opportunity to talk with Wally (pictured right) and his partner, Colleen Sisler, who live in Eldersburg, Md.

Wally served in Germany for eight years, both during and after WWll. He recently became one of WPA’s newest members, thanks to the efforts of his agent Steve.

Wally had two small paid-up policies with another insurance company, and after turning 85, he was visited by an agent from that company. Wally was told by the agent that since he was over 85 years old, his policies were no longer good, and he needed to cash them in and purchase a new policy. The agent neither took the time to listen to Wally nor assess his current needs. Not knowing any differently, Wally took this agent’s advice and purchased the new policy.

As it turned out, the agent was not being totally honest. Wally began using the funds for his old policies to instead pay for the new policy. After about two years, Wally was surprised to find out that he had to pay an extra $200 per month to keep his new policy in force. He could not afford to pay the extra premiums, so the policy lapsed.

Wally and Colleen filed a complaint with the insurance company, claiming misrepresentation on the part of the agent. They began a campaign of calling and writing the company, but their calls and letters fell on deaf ears.

“They kept giving me the runaround,” Wally said. The company told him and Colleen that nothing could be done to correct the situation since Wally had signed all of the proper forms.

This is when Steve Modell of Modell Brokerage came onto the scene. Steve heard about Wally’s situation through a referral and immediately contacted him to offer his services. As a true professional agent with nearly 25 years of industry experience, Steve was appalled by the service Wally had been given, especially given the fact that Wally had served his country honorably for eight years. Although it was a two-hour drive from his office to Wally and Colleen’s home, Steve set an appointment to meet with them.

Steve was “sent like an angel from heaven,” Colleen said. “He was very knowledgeable and took the time to listen to us and explore our needs. He even took the time to point us in the right direction and helped Wally file his complaint with the Maryland insurance department.”

Steve visited with them twice to assess their needs and decided that William Penn Association had the best policy to fit Wally’s needs. “I explored a couple of options,” Steve said, “but not many companies will insure someone over the age of 85, and most of the other options were more costly than William Penn. I also like the fact that William Penn pays an annual dividend that increases the value of the policy annually.” So, WPA was Steve’s first choice to insure Wally.

Wally was not only happy with the service provided by his new agent but also pleasantly surprised to see that the premium for his WPA certificate was significantly less than the premium for his previous policies…for the same amount of coverage!

Thank you, Steve, for providing excellent service and for bringing Wally to William Penn Association.

Thank you, Wally, for your service to our great country and for sharing your story with us. We’re proud and honored to have you as a member of William Penn Association!

Want to learn more about Steve and the Modell Brokerage? See Steve’s bio in April’s Agents’ Corner.

Have you ever been approached by another agent or company and advised to cancel or replace your WPA life or annuity certificate? Make sure you get all the facts before deciding to give up one policy or annuity to purchase another. Contact your WPA agent or our Home Office if you need assistance on replacements. We’re here to help! Don’t have an agent in your area? Contact the Home Office and we’ll assign one to assist you.


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