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Thread: between 1989-1992 made a killing..serious money ..

  1. #1 between 1989-1992 made a killing..serious money .. 
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    buying out the life insurance poilcy of those diagnosed with AIDS .. was so many that caught it , and so much panic ..

    many just wanted to go out with a bang , had only a tear or two too live and were taking even 100k on 1 million dollar poilicies ..

    find those that were diagnosed and desperate for money and didnt want to wait until dead to recieve ..

    we made a killling

    once that dried up i had a carefree attitude thinking another score like that was around the corner

    then my mentor said to me " it will be another 25-30 years before another score like that comes around"

    its about that time
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  2. #2  
    Their undisputed masterpiece is "Hip to be Square." The Falls's Avatar
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    do tell
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  3. #3  
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    well its about 30 years right now .. so just saying
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  4. #4  
    RX Senior PoundFoolish's Avatar
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    I am not well versed in the subject...so life insurance policies can be signed over? Where did you come up with hundreds of thousands to buy them all out?
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  5. #5  
    h.e.LL daveydips's Avatar
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    From tons of soft tissue cases
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  6. #6  
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    Quote Originally Posted by PoundFoolish View Post
    I am not well versed in the subject...so life insurance policies can be signed over? Where did you come up with hundreds of thousands to buy them all out?
    i work with a lot of life insurance products and i see a ton of universal policies which could be what metro is talking about.
    you can always change the beneficiary of the life insurance policy. in the 90s when interest rates were higher universal policies were sold way too much. they were sold cause there is a flexible premium so you could pay less and keep the policy in force, then there was a cash account which grew at a guaranteed interest rate. the entire point is to overfund the policy so more went into cash and could pay for the policy in the later years. well hardly nobody did that for various reasons (salesman dishonest, why pay more than needed at the time etc). the cash would grow at the interest rates that were available at the time and now that interest rates have been low for so long that cash has not grown hardly at all. when they were sold to people interest was 6-7% so a lot of the hypothetical sales ideas would look great, but interest has been 3-4% in them and people dont review their life insurance policy. an added kicker is that the cost of insurance is re-calculated each year, so the policy will always become more expensive each year making it harder and harder to afford. today we are seeing a ton of people with no cash value in the policy and cant afford a premium of 3-4k or more a year and not happy with it since they had been pay 400 a year for 30 years and get angry but cant do anything about it. you have to review your policies, this happens all the time. people dont look at their statement and see the cash value going down and dont realize it until its too late. thats where the investor comes in. i dont know what you offer as a buyout, thats i suppose is negotiable. but you give cash amount to the insured and the new investor takes over the premiums essentially gambling that you dont live too long. i assume you could do this with other policies like term or whole life but universal policies are lapsing at an alarming rate because people do not understand their policy or the increases that incur over the years. i have seen other ways people can take over policies but pretty clearly your just taking over a policy and gambling that the person dies sooner than later.
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  7. #7  
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    exactly gambling that they die sooner than later .. the investors would come up with the formula for when that person needs to die
    to have made it worth it to them , i just made it rain .. and nestled those golden tickets within the bosom of my portfolio that included as davey said
    many soft tissue injury cases in my pipeline. as a teenager I recall two gentleman from my neighborhood getting into a little accident with each other..
    no police were called they simply reported accident to insurance company , I watched as grown men begged and argued their way into that report being
    turned into the insurance company.. it ended up being 4 in one car and 4 in the other by the time the insurance company was notified
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  8. #8  
    2017 RX CFB Contest Runner Up dnf0027's Avatar
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    does this still happen today? How can we get a piece lol
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