The Motley Fool Discussion Boards
Retirement Discussions / Retired Fools
|Subject: Re: Low CD RAtes||Date: 4/14/2008 5:48 PM|
|Author: cliff666||Number: 12847 of 19220|
He does have a John Hancock Life insurance policy which they bought as a life settlement.
It is a 45 month term at 9%. If the policy owner dies, the policy will pay off, if not a Bond company pays. The broker tells me that it is safe and sure.
I understand what a life settlement is, but have not heard of selling it off to investors in chunks. Is this all legit and one way of earning more on your money?
Hope someone with experience can help
Sounds different from but similar to a viatical settlement. If it's a viatical, don't do it. In any case due a lot of due dilligence on that bond company. If something sounds too good to be true, it probably is. There are plenty of people still picking up the pieces from viatical settlements ten or more years ago (Including me.)
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|