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|Subject: "Viaticals"||Date: 9/28/2001 2:52 PM|
|Author: fooldaveonce||Number: 7367 of 19005|
I have received information from U.S.-Financial Resources Inc. concerning its "Absolute Assurance Life Settlements" program. The company "guarantees" (through insurance by Lloyd's of London) both principal and profit (10.5% to 12.6% annual).
Basically, the company offers "insured return life insurance settlement," which means buying the beneficiary rights to a life insurance policy of someone whose life expectancy is between three and eight years.
Aside from the morbidity of the concept (the company says its program does good things for the near-dead by helping pay off medical bills or giving them one last fling), does anyone have thoughts on this?
The minimum investment is $10,000.
With CD rates in the 3% to 4% range and money market accounts in the tank, this sounds too good to be true.
Anyone have any comments -- especially anyone with experience with the so called "viaticals?"
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