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Freedom Equity Group Reviews (2024 Update): Is Freedom Equity Group Legit?

By: JosiahDec 11, 2023Network Marketing
Freedom Equity Group Reviews ([year] Update): Is Freedom Equity Group Legit?

You're probably here today because you're considering selling insurance with the Freedom Equity Group. Perhaps you're researching and seeking additional information about whether FEG is a "legitimate" operation.

If so, you've come to the right place!  In this post, I'll go over how Freedom Equity Group works, what is it, who's the founder, and it's compensation plan.


This Freedom Equity Group review has been thoroughly researched with information and testimonials that are available to anyone in the public. Any conclusions drawn by myself are opinions.

  • Inclusive work environment
  • Everything about this company is authentic
  • You are your own boss
  • Heavy on recruiting
  • Pay a 1 time agent join fee
  • Find your own leads

Why Listen To Us

My name is Josiah, and this is my Dad, Joel.why listen us

Together, we make up the team here at Scamrisk.

If you’ll let me bother you for two minutes, I’d like to quickly explain why I’m even here writing this review.

In early 2020, I had just graduated from college & had no real career prospects.

I knew I was destined for something more, but I had no clue how I was going to make it happen.

I had this sinking feeling in my gut all the time… like the “big man upstairs” had accidentally given me the version of life where I’d be mediocre forever, instead of the one where I was, ya know – happy & fulfilled.


I had fiddled around with some different online businesses in college:

Some random MLMs, a bit of affiliate marketing, a (failed) dropshipping store or two, all the usual suspects.

Even my dad had been involved in MLMs back in the day… selling knives & other random nonsense people (probably) didn’t need.

All I really wanted was to find something that was going to actually work for me.

Maybe those things had worked for others, but for me it all turned up a fat “0” in the bank account department.

So I searched! And searched… and searched… and searched…

And eventually, I somehow stumbled upon a program that promised to help me build an income online (read about it here if you’re curious).

I didn’t really want to be “rich”.

The thought of making a reliable $5K per month & not having to worry about clocking in to a 9-to-5 ever again was all I needed.

Sure, there were people in the program doing high-6 and low-7 figures per year… but that wasn’t what I was out for.

I just wanted to provide freedom for myself, and if I was lucky, take my family along for the ride.

Fast forward a few days and a few phone calls & I was enrolled!

Here’s the first “money making website” I put up:

why listen us gif

I built that site in 2020, and it still makes me $1,500 per month. It’s a basic 5 page website I built based on a template the program provides.

The best part to me? My dad and I get to do it all together!

So between the:

  1. Ease of reaching $5-$10K per month in income online

  2. Straightforward-ness of the system to do it

  3. Fact that I get to do it w/ my family

Is why I recommend local lead generation as my #1 business model for making money online.

Sure, it takes some work and dedication – but anyone that tells you that there’s a business out there that requires no work is selling you a lemon.

I’m not saying you need to sign up for the same program I did, but I would definitely recommend giving the business model a peek!

There are countless information courses floating around the internet. Why? Because for every problem that exists, someone claims to have the solution.

And that solution is usually some oddball money-making system that tells you how to turn a casual interest - or maybe something you’re super passionate about - into sustainable, reliable income.

Just like Freedom Equity Group. Here’s the hard truth, though…

Most of these programs:

  • Take way more time than you’re led to believe
  • May have hidden fees
  • Require you to buy multiple upsells in order to get the “real” information

But most importantly, a lot of these programs just don’t scale.

“Scale” means once you do the work to make a little money, it should get easier to make more money, not harder.

The problem is, most programs out there make it hard to make money at first and even harder to keep making money.

In other words, you might be able to make some money in the beginning, but it won’t be sustainable, and you’ll end up getting discouraged.

This is the exact opposite of passive income.

When income is truly passive, you do the work upfront, but then you set it and forget it. The money gets made whether you’re working or not. It’s not directly tied to the hours you put in.

So, what if there was a way you could build a passive income stream that’s actually passive?

An income stream that doesn’t require:

  • Inventory
  • Selling to friends and family
  • Selling to strangers
  • Recruiting people
  • Dealing with questionable products that weigh on your conscience

An income stream that brings in consistent monthly revenues (from a couple of thousand dollars to well over $10,000)?

An income stream you could actually build in your spare time, and grow as large or as small as you want to, without having to spend hours a day chasing, selling, or managing anything?

If that sounds like something you’d be interested in, check out Digital Leasing. 

TESTIMONIAL - Still Getting Paid

This is nothing like Freedom Equity Group, and that’s probably a good thing.

However, if you’d still like to know more about Freedom Equity Group, keep reading.

What is Freedom Equity Group?

Freedom Equity Group is a life insurance product distributor, also known as an independent marketing organization (IMO) that works with insurance companies to advertise, sell, and distribute their products. The company is based in California and has partnerships with well-known companies like Fidelity & Guaranty, American Equity, and National Western Life.

In conjunction, they work hard to get bright producers to join their agency to master their sales and marketing strategies for selling these insurance companies products.  Ronald Bloomingkemper, Ronald Petrinovich, and Bill St. Clair created Freedom Equity Group in 2002. They all have extensive experience marketing life insurance and annuities nationally.

Founders: What's The Deal With The Freedom Equity Group Lawsuit?

Ron Bloomingkemper

Ron Bloomingkemper

Ron Bloomingkemper has over 40 years of expertise in financial services. Ron has worked in the life insurance and annuity industry for over 40 years.

He helped construct one of the top producing companies in the US as an owner and co-founder of National Marketing Alliance, which created over 40 billion in face amount of insurance.

He and his partners are doing it again on a national scale, extending their expertise and abilities to levels that few companies achieve. He has also helped directly with the freedom equity group lawsuit

Ron Petrinovich

Ron Petrinovich

Ron was born and raised in the California town of Los Gatos. He has been married to Karen for more than 37 years. Ron is the father of 3 children and the grandfather of 5 grandchildren.

Ron was raised by a successful CPA and entrepreneur who taught him the value of working for yourself and the need for good tax-efficient retirement planning.

Ron received his BS and MBA degrees from the University of Santa Clara and took great pride in providing the FEG community with outstanding products, training, and leadership.

Bill St. Clair

Bill St. Clair

He grew up in a single-parent household, assisting his mother in her insurance marketing business. They collaborated to establish a profitable financial services company focusing on estate planning and annuities. Bill started working with Ron Petrinovich and Ron Bloomingkemper, who were in charge of National Marketing Alliance's annuity division, in 1992.

Is There A Freedom Equity Group Pyramid Scheme Or Do They Offer Products?

What Products Does Freedom Equity Group Offer

Freedom Equity Group specializes in the selling of life insurance and annuities. Its primary product is index universal life insurance, which is a kind of permanent coverage that includes a cash value in addition to life insurance.

The accumulation of equity-indexed universal life insurance is related to a stock market index. The cash values of your customers are determined by the success of the various stock indexes you choose. Freedom Equity Group policies also provide living benefits, which let you use your coverage throughout your life.

Freedom Equity Group Pyramid Scheme Or Stellar Compensation Plan?

Freedom Equity Group offers two possibilities to earn money:

  • Selling insurance policies and/or,
  • Recruiting insurance sales representatives

You are paid a commission when you sell a policy. Even if you are not generating any sales yourself, you may increase your revenue by recruiting other sellers.

The affiliate levels of FEG range from training representatives to regional vice presidents. The commissionable volume produced by policy sales affects rank progression. To begin working as a sales representative with Freedom Equity Group, you must first find a recruiter. After completing your first training, you may begin selling and recruiting others.

Throughout the process, you will be guided by an experienced field leader, and you will always be a team member. Leads and lead sources are fully up to you. These may be self-generated leads, such as relationship referrals and word-of-mouth marketing, or they can be purchased.

A significant issue in insurance sales is the prevalence of insurance MLMs that prioritize recruiting over producing, resulting in unqualified, inexperienced "trainers" bringing in new agents without the necessary expertise to teach them fully. Mentoring and training are important components of FEG's business model.

You can quit the Freedom Equity group whenever you like. Remember that as an insurance agent, you are licensed by the state, not the corporation. No insurance agency can restrict you from terminating your relationship with it and conducting business with another organization.


There are a lot of other companies comparable to Freedom Equity Group, just like USHEALTH Advisors; it specializes in promoting innovative and cost-effective healthcare programs. Families and individuals, as well as self-employed and small business owners, are targeted by the company's healthcare solutions.

There's also New York Life, which provides premium life insurance, long-term care insurance, and retirement income insurance, as well as investment programs such as annuities, mutual funds, and ETF saving plans.

You can also try People Helping People since it focuses on term insurance, index universal life insurance, and fixed indexed annuities.

Is Freedom Equity Group Legit?

Scam or Legit

So, is Freedom Equity Group a scam? Not technically. You can make money with this program, but it’s definitely not as easy as they make it sound.

There’s a ton of work to be done upfront, no real guarantee of success, and - most importantly - it doesn’t scale.

Now, there’s nothing wrong with front-loading the work and making the money later.

But if you’re grinding it out for 3 months, and then your reward is being forced to grind it out for another 9 months before seeing any “real money,” well…that’s not a great deal, is it?

What if, instead, you could do that same 3 months of work (in your spare time), and your reward was a $500 to $2,000 payment that came in every single month?

And what if you actually didn’t need to wait 3 months? What if you could get started today and have your first payment in a week?

And what if you could double it next week?

Well, that’s the power of Digital Leasing. 

And you can legitimately do this from anywhere. It’s a true lifestyle business.

Your laptop and an internet connection are all you need.

Some of the most successful students in this program run their entire 6-figure businesses from:

  • A camper in the middle of the woods
  • A beach chair on the water in Mexico
  • A small villa in Greece

TESTIMONIAL - Saying Goodbye To Our Jobs

They’re able to travel around, living their lives first, and focusing on their income second.

Because even if they stop working for an extended period of time, the money keeps coming in.

So adventure, memories, and experience are the top priority.

And they never have to worry about how to pay for the next trip, or consider asking for time off.

If this sounds more like the type of life you want to lead, just click here to find out more about Digital Leasing.

Are There Alternatives After Reading Freedom Equity Group Reviews?


Yes, there are plenty of other business models to choose from if you want to pursue making money online.  Here are just a few:

What Is My Top Recommendation For Making Money In 2024?


Our review team has spent months researching, reviewing, and vetting dozens of business models and thousands of programs.

While there may be no “perfect business,” the research IS conclusive:

Digital Leasing is the #1 online business model for those just starting out.

Whether you’ve never made a dollar online or been in this space for a while but never really “made it,” Digital Leasing is for you.


1) It’s Flexible: got an hour a day? You can do this. Ready to drop everything else and dive in full-time? You can do this. Yes, the more time you put in, the faster you see results. But even with a little time each day, you can move the needle in a Digital Leasing business.

And because this system is so flexible, you don’t have to constantly be working to make more money. It’s called PASSIVE INCOME because if you stop working, the money doesn’t.

Imagine taking 3 months off to just tour around Europe, rent a cabin in the woods to write a book, hike the Appalachian Trail, or live on the beach and surf all day.

This is only possible if you have an income stream that’s not tied to your time.


2) You Own & Control EVERYTHING: With Freedom Equity Group, you don’t really own anything. You have no control over the quality of products. You don’t even own your “business”.

Look at the fine print for most of the agreements folks sign when they join one of these companies. At any point, the company can change your commission structure, reduce your profit margins, or kick you out entirely.

With Digital Leasing, you own the assets, which means you have all the power and all the control.

TESTIMONIAL - Feeling Blessed

3) Little To No Startup Costs: It’s possible to get into Digital Leasing with zero dollars upfront.

Because, using the strategies outlined in this program, you can get a client to pay you BEFORE spending a penny out of your own pocket...even before you do any work.

Even without getting paid in advance, you can have your first Digital Rental Property up, running, and generating profits for less than $100.

Scott Lead Gen

4) No Inventory: Alright, so most Freedom Equity Group doesn’t make you buy the products and fill your garage with them anymore (unlike the good ol’ days), but you’re still in a physical products business.

And physical products always have physical limitations. Even if you don’t have to manage the inventory, you still have to deal with supply chain shortages that cause major delays.

Imagine finally landing your first customer and losing them after one sale because they had to wait 6 weeks to get their order.

With Digital Leasing, a 100% online business, you never even have to think about that risk.


5) Easy To Duplicate: Ok, here’s the best part: once you have your first Digital Rental Property up and running, you can literally DOUBLE your income with a few clicks, a couple of keystrokes, and a single phone call (and you don’t actually need the phone call).

Remember: each Digital Rental Property is worth $500 to $2,000 monthly in semi-passive income (over 95% profit). Every time you decide to create another one and increase your income, it gets easier.

Because you have more knowledge, more experience, more results, and more momentum.

If you wanted to double your income with Freedom Equity Group, you’d probably need to double the number of hours you spend working. Because, again, this program doesn’t scale.

TESTIMONIAL - Lance Lead Gen

6) Make Money Helping Real People: With Digital Leasing, you’re actually helping people by solving your clients’ biggest problem:

Small, local businesses need more customers, and with Digital Leasing, you are unleashing a flood of happy, paying customers for these businesses.

You make money by helping them make money.

Not a big, faceless corporation either...a small business owner who’s using that money to put food on the table for their family, start a college fund for their kids, or take care of a sick parent.

Once you see how Digital Leasing makes a real impact in the lives of real people, you’ll sleep like a baby with a big smile on your face.


Now, the choice is yours. You could continue browsing, looking at opportunities like Freedom Equity Group reviews which could one day make you money.

You could continue researching, never making a decision.

OR, you could take a look inside, consider what you really want, and join a program that makes your dreams a reality. At the same time, joining a community of over 2,000 successful students that are living life on their own terms, thanks to Digital Leasing.

A consistent, reliable, semi-passive stream of income that doesn’t depend on you or your time to keep producing profits.

All while genuinely helping real people who are grateful and happy to pay for it.

If this sounds more like what you want out of life (or if you just want some nice side income), click here to learn more about Digital Leasing.

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