Some seniors are trusting people. Even if you're over the age of 65 it's still important to check out companies and investments, life insurance policies etc, even though sometimes it's hard to read through long and drawn out contracts, terms of service etc. "Risky viatical settlements (interests in the life insurance policies of supposedly terminally ill people)". It amazes me that people would take advantage of a situation where a person, or their loved one is terminally ill. When someone is terminally ill, this is a time of terrible stress when a person would like nothing more than just a little relief from the whole thing. A person would be VERY motivated to find financial solutions or try to resolve their financial situation if they were terminally ill. Somebody in this delicate situation would be probably really susceptible to an outsider trying to help. It's good to get the word out about life insurance scams and viatical settlement scams etc. If you know of a loved one who is terminally ill, you may want to ask them about if they've had any experience with somebody trying to sell them something , or get them to cash in their life insurance policy etc. I'm going to do a little more research on this subject. Life insurance scams for seniors
State securities regulators release an annual list of the top 10 investment scams they are combating. New to the 2001 list are risky payphone and ATM investments, often sold by independent life insurance agents, and so-called "callable" certificates of deposit sold to older Americans despite their 10- to 20-year maturities. Securities fraud costs Americans billions of dollars each year, state securities regulators estimate. While the new list of scams includes repeat offenders, such as broadly marketed promissory notes, bogus prime bank schemes and risky viatical settlements (interests in the life insurance policies of supposedly terminally ill people), the people selling them are moving out of the boiler room and onto Main Street. News and life insurance discussion on www.quality-ins.com

Articles from December 2006
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