CHIEF EXECUTIVE OFFICER
"I HAVE SPENT
OVER TWO DECADES PROTECTING FAMILIES AND BUSINESSES."
As Chief Executive Officer; my journey in the protection business started at New York Life Insurance Company two decades ago. After building a descent size book of business, I decided to take the plunge as an independent broker.
I launched The Rashaun Page Agency in December 1999. My agency quickly became one of the premier agencies with over 900 reps and a consistent $20,000,000 per year in sales. When your agency has over 1.3 million clients on their book of business; clients are no longer calling because of the companies that you represent, they are calling because you get the job done.
First advance benefits of America was born out of the responsibility to do the right thing for our members.
We had a client who had been paying their life insurance policy for 19 months with an insurance company that we represented in the past die from a heart attack; but the insurance company denied their claim because of the contestability clause, we stepped in to bury that client.
When one of our clients home policy excluded flood damage because it was caused by natural disaster; we stepped in and made it right by sending out contractors to remediate their mold and extract the water.
At some point you must do something when you believe people are being treated unfairly. First advance benefits of America whole existence is to ensure that anyone that we give our word too, will receive exactly what we guarantee them.
First advance benefits of America has made wrong right on countless occasions. When an insurance agent takes on a new client; they are giving the client their word based on trusting the insurance carrier that they are representing. If the insurance company fails that client that you gave your word too, who rights that wrong?
First advance benefits of America stand by every promise that we make to our members. As Chief Executive Officer I ensure that. After over two decades in the protection business, 11 offices across the country, over one million clients, 170 Billion Dollars of life insurance coverage written for other companies in the past, I know a little about delivering the promise to my clients.
A surety bond is defined as a contract among at least three parties: the obligee: the party who is the recipient of an obligation (Our Members). the principal: the primary party who will perform the contractual obligation (First Advance Benefits of America). the surety: who assures the obligee that the principal can perform the task - Winsfield Personal Surety Bonds 3280 Bloor Street 11th Floor Toronto, Ontario M8X2X3
Our plans are only available to our members. Our annual membership fee is $17.00. The membership fee is a separate charge from the plan that you choose. The cost of the plan is paid to the provider.
It is our highest priority at First Advance Benefits of America to keep our members information safe. We must collect personal information during the application process. However, we do not share, sell or lend our members information to any third parties. Our members personal information cannot be viewed by employees of First Advance Benefits of America if they are not at the Corporate Governance level.
Our executive team has over 175 years of combined experience.
Our executive team has over 175 years of combined experience.
When Rashaun left New York Life Insurance I took the chance and went with him to start his own company. That turned out to be one of the best decisions that I have ever made. He did everything that he said he would do and more. I happen to be one of those people who believes everything that he say he is going to do because he is a visionary that implements. I will be here until he calls it quits, which will probably never happen.
- J. Bryant
Chief Financial Officer
I am in charge of managing the team of employees that process the over one thousand applications that come into our offices on a daily basis. and it has been that way for 4 years.
I have been a sales representative with this Company for 13 years and they go above the call of duty for their members.
I was introduced to this Company while purchasing their business protector for my office. I figured I could offer their coverage to my clients to earn extra income. That was in 2010 and I am still here. They are just a great group of people to work with.
FREQUENTLY ASKED QUESTIONS
FREQUENTLY ASKED QUESTIONS
IS FIRST ADVANCE BENEFITS OF AMERICA AN INSURANCE COMPANY?
No. First Advance Benefits of America is a private limited liability company. Our plans are only offered to our members through third party providers contracted with our company. Traditional insurance companies are responsible for paying a beneficiary or indemnifying a customer. First Advance Benefits of America members are covered through our providers. One of the providers in our network will service our member(s) to cover their contract agreement. Payments are not made out to members like a traditional insurance company. We have a network of service providers that are contracted with First Advance Benefits of America to service our members. Our network includes funeral homes, crematories, plumbers, contractors, lawn care companies, rubbish removal companies, attorneys, banks, restoration Companies, electricians, bond companies, venture capitalist and private investors.
WHO REGULATES A COMPANY LIKE FIRST ADVANCE BENEFITS OF AMERICA?
Each State has different rules as to how our company can operate in their State. Some States require us to carry a bond to back each plan that we offer. Some States require that we maintain a trust Account with 40% of the payments that we collect from our members. First Advance Benefits of America maintains both. We have $75,000,000 in bonds and we also maintain surplus accounts. In addition to our bonds and surplus accounts, we have lines of credit across 39 financial institutions and private investors that are solely used to ensure that our members are serviced properly in accordance to their contract. Our licensed providers hold the necessary certifications and licenses required by each State to service our members.
IF FIRST ADVANCE BENEFITS OF AMERICA BECOMES INSOLVENT AND CANNOT PAY IT'S MEMBERS, WHO WILL PAY?
We have $75,000,000 in personal surety bonds that would reimburse our members their payments made to First advance benefits of America. Also, all of our members funds that are held in our surplus accounts are FDIC insured up to $250,000. If First Advance Benefits of America was to become insolvent or if a plan was discontinued, the funds paid to the company would be reimbursed through our trust accounts, lines of credit or liquidation of assets. The personal surety bonds would cover any funds not repaid through the trust accounts, lines of credit or liquidation of assets. Plans purchased through our providers will still be honored if we were to become insolvent as well.
HOW DOES THE COMPANY INVEST THE MEMBERS MONEY?
First Advance Benefits of America maintains lines of credit across 39 financial institutions and private investors. We also have a network of over 130 service providers. A membership to our company gives the member access to our service providers and lines of credit. When a member submits a claim; those documents are forwarded to one of our providers or financial institutions where we maintain lines of credit. The service provider resolves the claim for our members, or the financial institution makes payment directly to the company that is owed from our line of credit. Members payments are held in trust accounts and used to pay the cost associated with maintaining our monthly retainer payments to providers, lines of credit monthly payments and trust account fees. We do not invest clients money. Trust account statements are sent to members on an annual basis by regular mail or email.
This website gives an overview of our coverage. The benefits described can differ by State. See specific details, exclusions, inclusions in the detail section of your member packages. First Advance Benefits of America offers our protector plans through a network of Companies. The protector plans are offered through membership participation only. Our protector plans are not underwritten by an insurance Company. Our protector plans are not insurance or investments. We only offer insurance advice through our licensed insurance professionals on staff. Lines of credit are offered through third party financial Companies. We do not offer legal advice. Wills are prepared by Attorneys, Paralegals and Notary publics in our network of Companies. We don't endorse any Company that offers discounts or rebates to our members. A membership to First Advance Benefits of America allows our members access to our lines of credit that we maintain over multiple financial institutions. The payments made by members are used to pay the monthly fees associated with maintaining our lines of credit. We do not invest our members payments. Our members funds are held in trust accounts and are only used to cover the fees associated with monthly payments towards our lines of credit. Our members funds are FDIC insured up to $250,000.