Hello SKPs. I too have been watching my cost of living go up while my savings interest is going down. I have recently come across an investment opportunity that I've not heard of before, so I thought I would put it out there and see if anyone has had any experience good or bad with this type of investment. I contacted a local company to purchase a CD. During the conversation the broker who also sells insurance, told me of something called a re-sale insurance policy sometimes called a life settlement.It pays substantially more than a CD and is not tied to the market in any way. Unwanted life insurance policies are purchased from people who no longer want them or no longer want to pay the premiums. The purchasers are then named as the person's beneficiary. The particular policy I'm looking at has a specific end date. In other words, if the person outlives life expectancy, a bond will pay the value of the policy.The bond company than then hold the policy or resale it to recoup. This type of investment has until recently been restricted to large corporations and retirement annuities. Just in the last few years has it become available to the individual investor. It can only be sold by insurance agents and apparently they are not allowed to advertise, so it is pretty much word of mouth now. Anyway, I have been unable to find much specific information on this. Most of the information I've found has been directed toward the policy seller not the investor. So, if anyone has any knowledge or experience with this, I would like your input. Also, the broker indicated that some of his investors are SKPs. That made me remember that there is no better source for information than this forum.
Thanks in advance,
Ava

My dad invested in something similar and never recouped his investment. There's something faintly repellent about investing in someones death.

Some may be totally legit but this site had a serious concern for me.

Viatical Settlements Investment Fraud

There was a thread on this months back, and it seems the consensus was not good.

What you in effect are doing is betting on someone to die before you pay too much on the insurance .

Thanks for the input. I agree caution is advised here. However, this is not a viatical. The person is healthy at this time. If the person does not die, and I do not wish that in the least, the bond company has pays at the end of the stated time period. The main risk is in the fact that I would be loaning the money to an investment group. I would be putting my trust in this investment group to be honest and legal. The premiums are to be paid by a tax lawyer exchange-Pacific Northwest Title Co. of Oregon.This was a new concept to me as well, but apparently there are tax lawyer exchanges that shelter investments. I'm still researching, so keep sending feedback. thanks again.

The majority of the time these kind of things turn out real bad..!!

Why would you take an unknown risk just to get a few % greater return on your funds..??

And why would you go to some company with a broker to buy a CD..??.......When there are so many other legit sources to place your money ..??