Thread: RPPs/PPPs Fact or Myth

The instruments used by legit RRPs is definitely different and from what I'm told by some very wealthy people, can vary from country to country

Thats quite a bland statement as the sites do talk about TEPs and insurance policies......

I think we will have to wait and see.......

Originally Posted by berty

Thats quite a bland statement as the sites do talk about TEPs and insurance policies......

I think we will have to wait and see.......

I suppose.

What's your take on U.A.E. .... United Arab Emerites?

Since so many of you like to believe that "special" insurance programs are legitimate, only the rich have been able to take advantage of such programs before and have been denied to the common man, but now the comman man can now participate in these to "level" the financial earnings field; here's one that met all the "specialities" of GPP, RPP, and any other PP's out there:

A founding partner and sole shareholder of Mutual Benefits Corporation has pleaded guilty to a widespread securities fraud scheme in which more than 28,000 investors have lost approximately $956 million.

According to the Information and statements made in court proceedings, from October 1994 through approximately May 2004, Lombardi and principals of MBC, a business principally located in the Southern District of Florida, orchestrated the fraudulent sale of investment interests in insurance policies called viatical and life settlements to the general public, resulting in approximately $956 million of losses to 28,000 investors world-wide.

A viatical settlement is a transaction in which a terminally ill person sells the death benefit of his or her life insurance policy to a third party in return for a lump-sum cash payment, which is a discounted percentage of the policy's face value. A life settlement is a transaction which is identical to a viatical settlement, except the seller of the insurance death benefit is not terminal, but instead is a senior citizen. In the sale of viatical or life settlements, an investor would realize a profit if, when the insured dies and the policy matures, the policy benefit is more than the price paid for policy. Any profit realized would be decreased by additional out-of-pocket costs, such as premium payments. (This was the truth part).

Lombardi and other MBC principals directed an international network of sales agents and marketing directors who fraudulently induced investors to purchase interests in the viatical and life settlements through a series of misrepresentations concerning the safety and security of the investments. (The lie part)

For example, MBC's investors were falsely assured that the majority of viatical and life settlements sold by MBC matured within the life expectancy assigned by MBC. As a result, MBC promised investors returns as much 72% on their investment. In reality, most investors have never realized any profit and have not been able to get their investment back, since approximately 80% of the viatical and life settlements sold by MBC never matured, and only about 5% matured within the MBC predicted life expectancy. (The really big lie)

They took a small fraction of the truth and mixed it with a whole bunch of lies that sounded great; but in the end what was a "specialized" insurance program based on a real policy program was just another scam.

Now do you understand why GPP and all the other's while having an air of legitimacy are questioned as being legitimate? A little bit of the truth, mixed in with a list of big lies, end up being a scam.

Originally Posted by LynnRE

Since so many of you like to believe that "special" insurance programs are legitimate, only the rich have been able to take advantage of such programs before and have been denied to the common man, but now the comman man can now participate in these to "level" the financial earnings field; here's one that met all the "specialities" of GPP, RPP, and any other PP's out there:

A founding partner and sole shareholder of Mutual Benefits Corporation has pleaded guilty to a widespread securities fraud scheme in which more than 28,000 investors have lost approximately $956 million.

They took a small fraction of the truth and mixed it with a whole bunch of lies that sounded great; but in the end what was a "specialized" insurance program based on a real policy program was just another scam.

Now do you understand why GPP and all the other's while having an air of legitimacy are questioned as being legitimate? A little bit of the truth, mixed in with a list of big lies, end up being a scam.

I understand what you're saying and it does make sense that even though there are likely some of these that will eventually prove legitimate and payout, there are also a lot of copy cats that are just going along for the ride and will eventually show their scam colors and run. I guess time will tell whose who.

Because all the facts point one way and I have yet to see anything that is advertised in this way be genuine my personal thoughts are that they are all scams.

However if anyone can explain this new style insurance plan that.

• Doesn’t use risk tables
• Doesn’t need any traditional fixed assets with capital adequacy rules to use for the guaranteed element.
• Can issue policies with billions of dollars worth of sum assured through an established insurance company off the books
• Policies to staff ratios that at 1000% better then the leading known ratios
• Keep all this secret
• Still remain legal even though it breaches regulations in every jurisdiction

I am willing to learn

Berty, your right, its not kept very secretive andit breaches regulations in every jurisdiction. i wouldnt be surprised the feds are reading about this and tracking its progress. just my opinion. ajj

I had a thought the other day, I was looking at a life quote for a client age 49 for whole of life assurance and we came up with the cheapest one for £50k at a monthly premium of £61.83 with Scottish Provident

Well the life expectancy at 49 is 78 so that’s 29 years….. 29 x £ 741 =£ 21,516 so premiums of £21,516 for £50k, now if only we had access to that secret bank and insurance company used by the rich and secretive because I am sure we could have paid £61.83 and received the £50k up front for my client who could have then just set aside £22,000 for the premiums and enjoyed the balance of £28,000….all for an £61 outlay

Discussing this with colleagues who also amuse them selves with online comedy we thought what a great wheeze for a scam, we could even take the £28k and invest this using our group of experienced traders who have traded off line for 9 years but now feel the need to do it via a website in tranches of $1 via e-gold and we felt sure that we could turn this into £100k quite quickly say 6 months.

We would call this a Reverse Life assurance plan ( RLAP) which could be marketed through a poor quality website with the usual bad grammar and the odd spelling mistake for authenticity on an anonymous server we will also set up a referral scheme which will pay £10 for each new sign up plus £2000 for each policy once issued, and anyone who can get 25 referrals can go in a prize draw for a Rolls Royce kindly donated by the insurance company who really appreciate the business.

One last thing we think that maybe 25000 would be a good number of policies to issue that gives a nice cool £1.2m in the kitty and no-ones going to complain because its only £61…well worth the risk..

What do you think….

Originally Posted by berty

I had a thought the other day, I was looking at a life quote for a client age 49 for whole of life assurance and we came up with the cheapest one for £50k at a monthly premium of £61.83 with Scottish Provident

Well the life expectancy at 49 is 78 so that’s 29 years….. 29 x £ 741 =£ 21,516 so premiums of £21,516 for £50k, now if only we had access to that secret bank and insurance company used by the rich and secretive because I am sure we could have paid £61.83 and received the £50k up front for my client who could have then just set aside £22,000 for the premiums and enjoyed the balance of £28,000….all for an £61 outlay

Discussing this with colleagues who also amuse them selves with online comedy we thought what a great wheeze for a scam, we could even take the £28k and invest this using our group of experienced traders who have traded off line for 9 years but now feel the need to do it via a website in tranches of $1 via e-gold and we felt sure that we could turn this into £100k quite quickly say 6 months.

We would call this a Reverse Life assurance plan ( RLAP) which could be marketed through a poor quality website with the usual bad grammar and the odd spelling mistake for authenticity on an anonymous server we will also set up a referral scheme which will pay £10 for each new sign up plus £2000 for each policy once issued, and anyone who can get 25 referrals can go in a prize draw for a Rolls Royce kindly donated by the insurance company who really appreciate the business.

One last thing we think that maybe 25000 would be a good number of policies to issue that gives a nice cool £1.2m in the kitty and no-ones going to complain because its only £61…well worth the risk..

What do you think….

How do I sign up?

Berty - count me in.

Berty: Thought I would suggest you get chicosan to "promote" this program. Since chicosan loves to promote many programs without participating, I am sure this is one chicosan wouldn't want to miss out on.