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We do not buy
or sell
viatical contracts
(not the actual cover)
  
In sympathy
with people
from 86 nations
who lost loved ones
on 9-11 | |
Victims of Viatical
Fraud
Regulators are rabid in
their pursuit of certain viatical companies that offer investments to the public. These
viatical companies may be guilty of fraud -- a Ponzi scam, clean-sheeting, wet-ink,
misrepresentation, etc. Most of their victims are seniors. Many of these seniors lost
their life savings.
But there are other
victims. Viators are indirect victims. Patients who need cash for their final days did not
get the cash paid by investors. And they won't get this cash, if the principals of
these companies used the funds for luxury cars, mansions, and other lifestyle adornments.
Now potential investors
are scared. They can't be sure if the industry is legitimate, they worry that they will
lose their funds. If this fear continues and spreads, the money supply may dry up. Then
viators who need to sell their policies, who want to sell to legitimate viatical
companies, may not find a buyer.
If the money supply
dries up, it could spell the end to the legitimate viatical industry. This is not to say
the viatical industry will cease to exist. There will always be sleazy companies and con
artists. And sleazy operators cheat viators just as much as they cheat investors. It took
investors several years to realize they lost their money, but viators know immediately
when they are cheated or mistreated. The difference is that patients rarely file
complaints or lawsuits. They are too sick to take action to stop the companies from
hurting others.
We need a legitimate
viatical industry. Anyone who has ever spoken to someone who has a life-threatening
illness and who has exhausted all other resources knows the value of viatical settlements.
To help keep the
legitimate industry in existence:
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Don't allow
regulators to enact statutes that are overly-burdensome and expensive to legitimate
companies.
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If you have funds
to invest and are suitable for this investment, add it to your portfolio.
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But first, do your
homework. This includes
learning all you can, then seeking out the legitimate companies.
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