Skip to main content
Update
Non-financial boards have been closed.

Non-financial boards have been closed but will continue to be accessible in read-only form. If you're disappointed, we understand. Thank you for being an active participant in this community. We have more community features in development that we look forward to sharing soon.

Fool.com | The Motley Fool Community
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 2
Seen in Dallas paper today

RETIREES!
12% annual return over 12 months
21% return over 18 months
CD quality safety
perfect for IRAs

______________________

In the fine print, "viatical contracts" - basically you are paying of a life insurance contract ahead of time, hoping that the individual, who allegedly has terminal disease and will die within short time, is actually going to die. He/She gets the money early to live on. You pay off life insurance amount, minus your assumed interest to assumed date of demise, and other big fees, and then wait for said individual to actually die, and the life insurance to be paid....to you then. Of course, if the individual no longer makes payments, you'd better since it won't be there....and if the individual lives 5 or 10 years, your interest goes down to near zero.....as many who bet on AIDS patients dying quickly, and who with new drugs managed to live five or ten or 15 or longer years, have found out. Or in some cases, outright fraud when the individual really didn't have terminal pancreatic cancer (just indigestion) or similar.


No free lunch.

Print the post  

Announcements

When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.