Originally Posted by
antjesz2
Those of you who know me know that I am a very positive and optimistic person. But I cannot deny that I'm a lawyer. And I don't trust this one!
I understand that the 30 EUROs have to be paid immediately? That means that by the time they reach the 100,000 members they'll have already received 3,000,000 EUROs in advance without delivering anything. Probably they'll be gone with the wind as soon as they've reached the 100,000.
But even if they don't, the financial risk you are running is much higher than only those 30 EUROs that you are thinking of. What's even more serious is that those who signup will have to authorize them to borrow money on their personal insurance policy. The idea behind this system is that the loan will be used to pay off the premium and fees in advance, and the rest will be paid out to you.
Okay - I haven't seen the contracts. MAYBE everything IS safe for you. I know that this system works, and that it can be done - theoretically...
But the big question is if they are really honest with you. What if they don't pay off the premium as promised? What if they take all the money and run? Then maybe it's YOU who are liable for the insurance premium, depending on the contracts, plus eventual interest, and you are going to pay it off all the rest of your life without ever seeing a dime!
No thank you!