Not at all John
[QUOTE=I apologize if I'm stepping on any toes on this forum, but would it be unfair to say that someone investing in viatical settlements is in a sense setting themselves up to be taken to the cleaners? After all, there is a certain mindset involved, assuming they know precisely what they are doing...[/QUOTE]
The really sad thing was this person had no idea what they were getting into. They could best be described as simple about financial things and had a very serious communication disability. There is no way they knew what they were buying. On top of that the whole thing was a fraud with phony terminal patients and doctors on the take signing off on the medical documentation. They did recover about $.15 on the dollar after it went into receivership. One of the insured died in a scuba diving accident 10 years after they were declared terminal with less than a year to live.
[QUOTE=I apologize if I'm stepping on any toes on this forum, but would it be unfair to say that someone investing in viatical settlements is in a sense setting themselves up to be taken to the cleaners? After all, there is a certain mindset involved, assuming they know precisely what they are doing...[/QUOTE]
The really sad thing was this person had no idea what they were getting into. They could best be described as simple about financial things and had a very serious communication disability. There is no way they knew what they were buying. On top of that the whole thing was a fraud with phony terminal patients and doctors on the take signing off on the medical documentation. They did recover about $.15 on the dollar after it went into receivership. One of the insured died in a scuba diving accident 10 years after they were declared terminal with less than a year to live.
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