Does anyone know anything apout VIATICAL or LIFE SETTLEMENT programs?
One of my relatives is a 75 year old retired MD and have
been approached by a group that say if he will take out
a 10milllion dollar duration insurance policy on himself that they
will loan him the money to make the first 2 premium payments
and at the close of the 2nd year sell the insurance policy for
a profit and he will engender 1.5 million dollars.
this just sounds too correct to be true but the company says
that another retired doctor have already purchased his policy
and he gave them my relative's mark and that he was contained by
good form which he is.
this solicitation came within the form of a phone call following
an invitation to a slot that promises a lot of fine wine and
indigestible appetizers.
The words VIATICAL and LIFE SETTLEMENT are not
thought of favorably by the legal profession and most
secretary of states and attorney generals office.
does anyone have experience within this area and what
counsel do you have.?
Answers: I believe you answered your own sound out in the fourth paragraph. There are times when a viatical settlement is a well brought-up thing but most of those companies are borderline scam artists.
My proposal is "do not drink the wine". It would be best not to be drunk when making important financial decision.
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been approached by a group that say if he will take out
a 10milllion dollar duration insurance policy on himself that they
will loan him the money to make the first 2 premium payments
and at the close of the 2nd year sell the insurance policy for
a profit and he will engender 1.5 million dollars.
this just sounds too correct to be true but the company says
that another retired doctor have already purchased his policy
and he gave them my relative's mark and that he was contained by
good form which he is.
this solicitation came within the form of a phone call following
an invitation to a slot that promises a lot of fine wine and
indigestible appetizers.
The words VIATICAL and LIFE SETTLEMENT are not
thought of favorably by the legal profession and most
secretary of states and attorney generals office.
does anyone have experience within this area and what
counsel do you have.?
Answers: I believe you answered your own sound out in the fourth paragraph. There are times when a viatical settlement is a well brought-up thing but most of those companies are borderline scam artists.
My proposal is "do not drink the wine". It would be best not to be drunk when making important financial decision.