by spikecook » Fri Dec 07, 2007 02:42 pm
Does anyone know of a company which will pay me a percentage of the face amount in exchange for me naming that company as beneficiary? Remember, this is TERM life, with no expiration.''Thanks for any help you might provide!
Madison
Madison
Posted: Mon Dec 10, 2007 11:31 am Post Subject:
Definitely out of my purview. :oops: Let's see what the experts of this forum have to say on this matter.
Posted: Mon Dec 10, 2007 12:03 pm Post Subject:
Never heard of such a thing, but i have never claimed to know everything. What are you talking about?? is this a new concept , or something that has been out for awhile?? A term with NO expiration?? Then, how long is the term for??
I guess I would need more info about these types of policies
Posted: Tue Dec 11, 2007 10:29 pm Post Subject:
Are you talking about premium financing?
Posted: Tue Dec 11, 2007 10:47 pm Post Subject: Hi!I have a term life policy paid for by the insuror because
Hi spikecook,
You are probably referring to a viatical settlement. This can be very risky business. I suggest you take a look at what the Securities and Exchange Commission has to say about them.
http://www.sec.gov/answers/viaticalsettle
Remember, this is TERM life, with no expiration.
This one is new to me, I have never seen a term life insurance policy with no expiration.
Posted: Wed Dec 12, 2007 07:03 am Post Subject:
This sounds interesting: Whom, pray tell, will be the insured? Is this person currently ill or in bad health? Are they HIV positive? Cancer? Bad dreams? Anything wrong at all? Which insurance company do you suppose will issue this limitless term policy? Who will make the premium payments?
Do you know anything at all about life insurance, Viatical settlements, policy assignment, Criminal Law?
Let's get a few more answers and we'll maybe give this another look.
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