Posted by Wm on February 03, 2002 at 07:24:24:
If it sounds to good to be true…
Off Topic but Investing/Money related - Posted by chance
Posted by chance on February 03, 2002 at 01:14:47:
Has anyone heard of an investing technique that involves an investment corp. that buys life insurance policies (i.e. pays the insured cash to purchase their policy at below value) of elderly people (say low to mid eighties) with your investment capital and pays out upon their death?
They state a minimum of 12% and say they have averages of doubling the investment(minimum investment of $10,000). They also said that the investment is insured by the government or an insurance corporation (I can’t recall exactly) for up to $300,000 of the principle. Is this for real?
I remember a similar system that involved buying sick (cancer patient types) life insurance policies the same way that failed because some of the people were recuperating and living longer than a return on the investment could cover.
Any info good or bad would be greatly appreciated, sorry to post off topic on my very first posting but this is nagging me something fierce and this looks like a group that would know if anyone did.
…thanx! Chance
“Winners compare their achievements with their goals, while losers compare their achievements with those of other people.” – Nido Qubein
Re: Off Topic but Investing/Money related - Posted by Matt L. (STL)
Posted by Matt L. (STL) on February 04, 2002 at 10:07:00:
Chance,
Be carefull!
About 3 years ago my wife inherited several of these viaticals from her father. I don’t know how long ago he bought them. All of them were Aids patients with life expectancies of no more than one year. Not one of them has paid out yet.
correction- www.viatical-expert.net (nt) - Posted by Ben (NJ)
Posted by Ben (NJ) on February 03, 2002 at 12:10:08:
nt
Viaticals… - Posted by Ben (NJ)
Posted by Ben (NJ) on February 03, 2002 at 10:01:14:
it is legitimate but be very careful because the industry is rife with scams. Check out viatical_expert.com. Gloria Wolk has a book on this industry called “Cash for the Final Days” and she will steer you away from scam artists.