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Gary Kramer wrote:
> There was an episode on "Dateline" or Primetime or one of the other news
> shows within the last year about these viatical settlements for Aids
> patients. Investors were buying an interest in the discounted life
> insurance proceeds with the expectation that the insured individuals would
> pass away shortly. Unfortunately for the investors but fortunately for the
> patients, the advent of new medical treatments has increased the longevity
> of infected Aids patients. As a result, the "underwriters' or "providers"
> (I dont know what you call them) are being sued by some investors because
> they are not earning the returns they expected! Gotta love this country!
> You buy an investment hoping someone will die soon and then you sue when the
> individual is blessed with additonal life!
>
> Gary,
The big difference is that those viaticals were on AIDS patience. New
technology suddently started to extend the lives of those people.
The current program is targeted to cover people who are chronically ill
and more than 80 years old. Until someone comes up with a "fountain of youth", I
don't think the situation is going to change much for these folks. On the other
hand, should someone figure out a "fountain of youth" remedy, you may receive a
lower than expected return on your viatical, but you will be a potential
candidate to benefit from the longer life expectancy. Whata Country!
Ponce de Leonedly,
Norman
>
> ----- Original Message -----
> From: <Proffittak@xxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Sent: Monday, April 19, 1999 10:48 AM
> Subject: Re: Managed Money Update
>
> > In a message dated 4/17/99 12:46:07 AM Eastern Daylight Time,
> > nwinski@xxxxxxxxxxxxxxx writes:
> >
> > << Ben,
> > If you are looking for a good alternative investment independent of
> the
> > market, I can put you in touch with a friend of mine who offers a
> guaranteed
> > 150% return (for example $100K yields $250K) on your money backed by a
> major
> > insurance company. The vehicle is viaticals on 80 year old people in ill
> > health.. Therefore, the time it takes to earn the 150% is unknown, but
> > chances
> > are good that an 80 year old chronically ill person is not going to live
> much
> > past 90 and it could be less. Therefore, you stand a good chance of
> earning a
> > handsome 15% or more per year return on your capital. Whatya think? If
> > interested, please contact me by private e-mail.
> >
> > Agedly,
> >
> > Norman
> > >>
> > good morning
> > i worked for 20 ears for a major insurance co
> > noinsurance company will put that guaentee in writing
> > today a life expetency of a 80 male is 6.67 years!!!
> > and female 8.89 years
> > to do this crrect you youself place the ad in a newspaper
> > have orner of policy sigh an absulute assignement to you
> > and you hand him a chek for 25% of the face amount of the policy
> > hope this helps
> > Ben
> >
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