RPPs/PPPs Fact or Myth

I have unfortunately gotten a little involved in these things since my initial observations a few weeks ago and keep coming up with facts that will help folk do their DD in a rational way rather than speculation and rumours….This is aimed to the scam rather than the scammed…Just as our good lord teaches us to love the sinner not the sin…so I have created a thread where I have a ream of information that I am sure you will find useful and will add information as its made available to me through the course of my research.

....thought I would start with this as a little thought provoker

Here’s an article published by a UK financial trade journal called Money Marketing and used by most financial intermediaries in the UK

Its about Norwich union who are one of the largest UK insurance companies and in the worlds top 20.

NU Info Norwich Union - Wikipedia, the free encyclopedia

Source NU doubles size of large case admin team - 24 August 2007

Quote:

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NU doubles size of large case admin team
Helen Pow - 24-Aug-2007
Norwich Union has doubled the size of its large case administration team.

The department, which is designed to provide accessible, expert support to advisers writing larger sums assured, now has 14 staff and handles around 200 cases a week, which equates to a total of £5 billion worth of business underwritten annually.

NU head of protection customer experience Sue Hendry says larger sums tend to be more complicated because they present greater risk.

She says: "It is important that these cases receive spe******t treatment to ensure applications are turned around quickly and smoothly. By lowering the minimum sum assured to receive this service we are delighted to see that more and more people are benefiting from the facility and the support it provides.”

The division was originally established to provide support for those assuring sums of £1m or more. This amount was lowered to sums above £500,000 in August 2006.

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So this is a very large UK insurance company where their staff ratio to issue policies is 14-1 , bearing in mind that the RPPs insurance company will be extra special and although their websites are poor quality they will no doubt will have the latest cutting edge IT systems so lets assume double the work rate, this would require the following number of admin staff to service these plans at a ratio of 28-1

GPP 100,000 plans 3751
HCi 27,000 plans 964
WPP 30,000 plans 1071
Imp 10,000 plans 280

Lets hope they don’t all use the same insurance company as this would really stretch the recourses, however I dont know of any company that has that many staff in their new business departments and bearing in mind the secrecy of all this if there were whats the odds of all of them keeing quite about whats going on?

Food for thought!

Nice one Berty. I hope this thread becomes educational and informative since the Insurance Industry is a minfield for the lay person.

If we assume that reverse pension plans are a viable proposition, a feasibility study at the start would preclude the normal DD that is part and parcel of any unwritting of life policy, in that health and age considerations are not a factor. We can also exclude death within the life term once the policy is issued. Nor are premiums a concern to the insured.

How would that work out?

What you quote above relates to high risk policies with all the attendent attention any Insurance company would pay to safeguard against fraudulent submissions.

Thanks and keep the info coming please.
Regards
paddy

Well until RPP are accepted as known financial instruments or insurance/bank products and reported in their trading accounts then we must assume they are suspect they just cant be viable for all the reasons stated in the GPP thread

I am just showing you some facts that even the simplest of souls would ask questions about, the above being a classic example of why they are suspect

I will not go into any sarcastic type remarks in this thread just quote the facts, if anyone choses to beleive made up information then thats part of your choice , however I dont know of any company that doesnt underwrite any insurance plans, even the guaranteed acceptance plans have clauses

Are you saying they have sourced a totally new type of insurance plan unknown to financial advisers?

Berty: Appreciate this thread, and I am not being sarcastic, but here is part of the problem with these "special" programs such as GPP.

The story line goes that up until now, only the "rich" had access to these type of products, i.e. Prime Bank Notes, Private Placement Memorandums, Private Placement Programs, and of course the Reverse Pension Plan. The wealthy want to keep the "little guy" down, i.e. poor. But at last this program will allow the "little guy" to have access to the same financial products that only heretofore the "rich/wealthy" could access. Just a small investment would return you super wealth. Now that is the shortened version of the story line. To the uneducated or uninformed person about investments, these have an immediate attraction. Kind of a conspiracy theory, Robin Hood mythology all rolled into one. The "little guy" finally gets even and sticks it to the "wealthy." A small amount of truth sprinkled among the big lie.

Love your posts, and look forward to many more.

I think the question to ask is this.

If I lay out $30,will I really make $55000 some day? I wish lol.:rofl:

I'm away for a few days so I thought I would leave this link which again is used by UK intermediaries to research markets..

A prize to anyone who provides information on RPPs

IFAonline.co.uk

PS...thanks for the PMs...however I dont do email correspondance.:thumbsup:

Quote:

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Originally Posted by berty

I'm away for a few days so I thought I would leave this link which again is used by UK intermediaries to research markets..

A prize to anyone who provides information on RPPs

IFAonline.co.uk

PS...thanks for the PMs...however I dont do email correspondance.:thumbsup:

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Before you depart, THANK you for this thread as an eyeopener which will surely be a well sought after source for information as well as an educational one for all who may and may not know as much as they thought or liked to, on the workings behind a sustainable Insurance policy that promises handsome payouts....!!!

Like paying out thru the nose.... Hear this and make that wishful thinking to your sweetheart/partner or whoever!


YB. - :beer:

Tim Price, - Money Week

Theres some good stuff here and this guy is a well respected anylist who is well know to several colleagues of mine who pay a lot of money to access his research.

No one has found any links to RPPs which are the best kept secret on the financial world at the moment.

The facts show that
• There are no current insurance based plans to support this kind of business
• The TEPs market deals in plans that are at least 7 years old
• The premium on a new plan would exceed the amount available if a new plan could be sold at TEPs
• You can’t mortgage an insurance plan its just collateral for a mortgage against a fixed asset.
• To deal in the numbers of policies these plans say they would issue would take hundreds of staff
• Banks and Insurance companies are regulated and would have to break the law to deal with this type of business
• The odds on this being kept secret with 100s of people in the loop would be a challenge
• They say that the only way to get the number of people involved is to use the internet but Lloyds of London is made up if 1000s of wealthy individuals who underwrite risks against insurance losses and would jump at the chance to invest in a “sure thing”

I see many folk are still in hope as right now GPP are held up waiting for 15000 potential investors to get their details correct and this must be also be causing tremendous frustration to the selected insurance company as they are looking forward to issuing 100,000 $200,000 insurance policies and thats a lot of money and a lot of work

Now as I have explained in previous posts these plans have to guarantee a loan at 60% so will need to be investing in funds fixed or secure assets with capital adequacy rules to secure the $20b that this represents, due to the nature of this these will need to be established funds so it narrows the choice of companies down quite a bit to well established asset rich companies

They will also need to break the law in order to issues $20b of funds off the accounting sheets......

The amazing trick is that this isn’t going to cause a ripple in the market place to keep the confidentially clause going and its being offered to financially naïve folk rather then the traditional investors through a Lloyds of London trading group .....all whilst hedge funds are collapsing through over exposure to debt backed paper and in most financial centres jobs will be lost this year as this is a major crisis in the banking sector because the central banks and notably the Bank of England will not support closing balance sheets through the overnight lending facility…….

thanks berte, sometimes we need a dose of reality and of what can be and cant be. thanks ajj

World banking is in crisis right now down to sub prime mortgages being packaged and sold as financial instruments in the bond market being exposed as having $500b of unsecured assets , know one knows where this is in the system and most banks have stopped supporting each others closing books by lending on the interbank rate to keep the account sheet positive as it were.

Looking at Private Placement Plans or sometimes known as Bank Debentures this throws up some questions when looking at some of the big treasury bill players who are also over exposed in the sub prime debt backed asset trading

The theory of PPPs is that Primary dealers buy the bills at low rates and sell these onto the secondary market at a profit…( this is true)..however where the scam is set up is in the theory that money can be blocked in a Western European bank and then leveraged by the trader for the trade where a 10% return becomes a 100% return on a 100/1 leverage trade.

Because this is how the rich get richer someone finds a way to collect small amounts to get into the trade which normally start at $10m, NDA agreements and all the usual BS apply and someone always knows someone who’s done this etc etc, This is a large money fraud scam with many charitable trusts and church groups falling prey to these every year to the tune of millions

I personally know of 3 recent HYIPs that fell for these scams…………anyone remember YMMSS and wonder what happened the deal that Kim was working on that would bring $500k into the account every day…..rumour has it that he lost millions to these scammers.

OK lets look at the FED primary dealer list, these are the corps that all the treasury bills as sold through

Primary Dealer List - Federal Reserve Bank of New York

BNP Paribas Securities Corp.
Banc of America Securities LLC
Barclays Capital Inc.
Bear, Stearns & Co., Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Countrywide Securities Corporation
Credit Suisse Securities (USA) LLC
Daiwa Securities America Inc.
Deutsche Bank Securities Inc.
Dresdner Kleinwort Wasserstein Securities LLC.
Goldman, Sachs & Co.
Greenwich Capital Markets, Inc.
HSBC Securities (USA) Inc.
J. P. Morgan Securities Inc.
Lehman Brothers Inc.
Merrill Lynch Government Securities Inc.
Mizuho Securities USA Inc.
Morgan Stanley & Co. Incorporated
Nomura Securities International, Inc.
UBS Securities LLC.
So these firms are the only one who access these bonds and so therefore make risk free money on every trade….according to the PPPs lots of it Trillions!!

Lets look at Countrywide Securities Corp

Countrywide Financial - Wikipedia, the free encyclopedia

They are the largest mortgage provider in the states and underwrite circa 20% of all the mortgage business written in 2005 their gross profit was $10b but are still one of the major casualties of this banking crisis announcing 12000 jobs cuts.

This kind of contradicts its self because one the one hand they are primary dealers in a no risk lets help the rich get richer treasury bill market, and yet they have exposed them selves to massive loses which will mean jobs loses and closures.

So the question is why would a firm that can access this "secret" world of risk free high return finanace choose risk?

Reverse Mortgages or equity release as we call them in the UK are schemes for releasing the value tied up in a property usually for the elderly who are asset rich but cash poor.

Question…..what do you need to get a reverse mortgage?

Answer ….. A property!

How does it work, you have your property valued and a percentage normally up to 75% can be taken out in cash this depends on your age but you can pay the interest on this or again depending on age let the interest roll up and taken out of the house sale after death.

So if the property is worth £500k you will get a value of £375k

Ok….in the UK due to a shortage of housing we have house price inflation and over the last 10 years the price of a house has gone up 137%

You may say but hold on in 10 years time at current levels my property will be worth £1.1m I want 75% of that that’s £900k, but the bank will say no because future values aren’t guaranteed and the risk we are prepared to go to is 75% of todays property value this allows for a margin for deflation or unpaid interest

Ok apply the same principal to endowment insurance plans

When you buy the plan the guaranteed element or the sum assured is always lower then the premium that you pay, the RPP schemes quote a premium that is so low it couldn’t achieve the basic sum assured needed to yield the returns.

There are 3 ways to raise money from insurance plans

• Cash in and take a surrender value this is normally low

• Loans up to 75% of the value of the plan, that’s the guaranteed value and not the projected value you keep the plan running and at maturity get the full value less the loan amount

• Sell through the TEPs market normally at a level of 20% more than the surrender value however the surrender value needs to equal the premiums paid which normally takes 6-7 years and none of the Traders will quote on plans less than 7 years old.

So you get 75% of the value of your plan that’s less than the premium you pay for it…clearly very stupid, and just as future values cant be guaranteed like the value of a house it’s the value on the day you want to loan against your plan not the projected value that is used.

That’s the plain simple facts about insurance plan loans, values or trades.

Quote:

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Originally Posted by berty

I see many folk are still in hope as right now GPP are held up waiting for 15000 potential investors to get their details correct and this must be also be causing tremendous frustration to the selected insurance company as they are looking forward to issuing 100,000 $200,000 insurance policies and thats a lot of money and a lot of work

Now as I have explained in previous posts these plans have to guarantee a loan at 60% so will need to be investing in funds fixed or secure assets with capital adequacy rules to secure the $20b that this represents,

Why do you see this as a problem? Don't you think that the companys involved have all of this information and have dealt with it legally and a far as NDAs being involved so as to keep public forums from slashing the he-- out of facts dealng with those programs that have paid out projects in the past......this is a fact of many financial arrangements?

due to the nature of this these will need to be established funds so it narrows the choice of companies down quite a bit to well established asset rich companies.

That plus individuals and consorteums with billions + at their disposal and with a long term view on returns.

They will also need to break the law in order to issues $20b of funds off the accounting sheets......

There's no need for them to break any law. There are always legal ways to deal with this.

The amazing trick is that this isn’t going to cause a ripple in the market place to keep the confidentially clause going and its being offered to financially naïve folk rather then the traditional investors through a Lloyds of London trading group .....

Well gollygee, why would they do that?

all whilst hedge funds are collapsing through over exposure to debt backed paper and in most financial centres jobs will be lost this year as this is a major crisis in the banking sector because the central banks and notably the Bank of England will not support closing balance sheets through the overnight lending facility…….

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There's more in the financial community besides the UK and the Bank of England.

yep...but the principals of insurance based policies are the same the world over along with TEPs

The post above my last one seems to have passed you by, not a mention of UK or bank of England....why not look at the facts in that and answer the questions raised if you understand them.....however you seem to have a real problem dealing with real facts and just quote clichés picked up from scam sites...

I’m wondering do you ever post anything of real value as your only contributions seem to be promoting scams and being sarcastic to those who don’t..

Quote:

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Originally Posted by berty

yep...but the principals of insurance based policies are the same the world over along with TEPs

The post above my last one seems to have passed you by, not a mention of UK or bank of England....why not look at the facts in that and answer the questions raised if you understand them.....however you seem to have a real problem dealing with real facts and just quote clichés picked up from scam sites...

I’m wondering do you ever post anything of real value as your only contributions seem to be promoting scams and being sarcastic to those who don’t..

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"policies are the same the world over along with TEPs"

Who said that GPP was a conventional TEP?

FIRST....I do not promote scams.....I do play them and win most of the time.

SECOND.....Sarcasym seems to be all that works here.

Ok let agree on a few things

First....Endowment plans and TEPs as we know them cant be used for RPPs

Second.....The instruments used by RPPs by definition must be something different.

Quote:

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Originally Posted by berty

Ok let agree on a few things

First....Endowment plans and TEPs as we know them cant be used for RPPs

Obviously you are in a better position to assess this.

Second.....The instruments used by RPPs by definition must be something different.

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.

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*******

UAE Pension Investment

You can register now without paying.You will pay your 51 Euros
(ebullion ecurrency as advised later) when the links are completed,
and the website is fully functional.

Payout is 80,000 Euros.

Only 1 contract per member.

Referral bonus of 3,000 Euros paid on 6 downline levels.

Only members who will not have reached their 67th birthday till July
31st 2008 can participate.

What is the U.A.E. Pension Investment?

The U.A.E. Pension Investment is a merger of six mostly European
entrepreneurs who have their place of business in the U.A.E. (United
Arabic Emirates). They have placed as a holding structure in the
mostly known Emirate Dubai. The board of management is leaded by an
Arabic sheik.

What does the U.A.E. Pension Investment offer?

The U.A.E. Pension Investment offers every person who will not have
reached its 67th birthday till July 31st of 2008 the opportunity to
cede prematurely a pension insurance taken out by U.A.E. Pension
Investment and in return receiving a compensation payment. The program
is terminated as suspected till July 31st of 2008.

How does it work?

The U.A.E. Pension Investment takes out a private pension policy at
your name. So you will receive a normal insurance policy along with an
assignment declaration which you soon have to send back - signed and
subscribed when received, together with a certified copy of your
identity card - to the holding company in Dubai .

What does distinguish the U.A.E. Pension Investment?

The concluded insurance sum of U.A.E. Pension Investment is amounted
to a total of € 300.000,--. Through your premature assignment
declaration you will get a compensation payment of € 80.000,--.
Additionally you will get € 3.000,-- as a commission fee for each
sponsored member finally to your sixths downline level. The total
membership is limited to 50.000, so that in all a very fast expiry can
be occur.

Costs and duties for member?

To register as a member for U.A.E. Pension Investment the member has
to pay € 51,-- only once. This contains every administrative and
transactional costs. The only duty arising for the member is the
truthfully information of required personal information. Through
assignment declaration all rights and duties of the insurance policy
will be transfered to the holding company of U.A.E. Pension
Investment, so that no additional payments will be necessary.

Safety for member

While the insurance policy as well as the assignment declaration are
not known so far, its wording is not verified legally at this time.
Registering as a member a legally binding signature is not necessary
whereby no contract will be achieved. Ensuring that the insurance
policy and the assignment declaration will not cause financial damage
€ 1,-- of the membership fee will be lumped together. From this when
the total membership will be reached a lawyer who is specialized in
international insurance law will be instructed to prove these
documents for the purposes of members. All members then will be
notified of the reviews result via email. Therefore a maximum
financial damage is limited to € 51,- for each member. As the amount
for the lawyer´s fee will not spend the € 50.000,-- which will be in
the pod later the rest will be donated in aid of i.g. Stefanie Graf
foundation "children for tomorrow" and/or SOS Kinderdorf.

- Children for Tomorrow www.children-for-tomorrow.de
- SOS Kinderdorf SOS-Kinderdorf Deutschland - wir sind Familie! [Startseite]

Compensation payment
The compensation payment of € 80.000,-- will be paid after the
insurance policy will be ceded to the U.A.E. Pension Investments
holding company. There are two models how to get paid:

- payment at your existing bank account
- A bank account in Dubai will be opened where the money will be
transferred to. In addition you will get a credit card which offers
you to draw money from every ********* cash dispenser accepting credit
cards.
Important: All income out of the U.A.E. Pension Investment is taxable.

Sponsoring / commission fees

Everyone who will sponsor a new member will get a commission fee of €
3.000,-- for each new member. This commission fee will be paid till
the sixth downline level; even if the member sponsored by you will
sponsor a new member by itself you will get these commission fees as
far as the new sponsored member will be registered inside your six
downline levels.

As a bonus the 20 top sponsors will be awarded with a journey for two
weeks at the Emirates Palace in Dubai including € 10.000,-- pocket money.

There is no duty to sponsor. Rather it is a possibility or
opportunity. The compensation payment is independent of sponsoring so
that the member who does not sponsor also will get the compensation
payment.

How does the registration work?

First of all fill in the registration form completely and send it to
the indicated email-address. Subsequently transfer the single
membership subscription as described as „transfer of subscription".

What happens after the registration?

As soon as your membership payment will be received (this can take up
to one week) you will receive a confirmation email about your
registration. This contains a link to your membership-website. Please
have your login-data (existing of username and password which both you
have chosen by yourself) ready. With these data you can easily login
at the U.A.E. Pension Investments website and you will get an overview
of your sponsored members plus some more information.

What will happen when all 50.000 members will be registered?

Once the total membership will be reached all members will receive
their individual insurance policy including the assignment declaration
and together with an additional document. In this additional document
simply mark with a cross how you want to receive your compensation
payment plus commission fees. Sign the insurance policy and subscribe
the assignment declaration. You will get respective directions in the
member area in time. To cover your own safety make a copy of all
completed documents and send the original copy together with a
certified copy of your identity card or passport to the return address
(to Dubai).

How and when will the payment take place?

Once your documents will be arrived in Dubai 1-2 more weeks will pass.
During this time a bank account will be opened for you in Dubai
(provided you have chosen this model in the additional document) and
you will get a credit card to be used *********. If you should have
chosen the transfer at your existing bank account, a bank account in
Dubai will not be opened and you will not get a credit card. The
transfer then will follow during 1-2 weeks as well.

KEY FEATURES
number of members 50.000
number of insurances per member 1
asset of pension insurance € 300.000,--
compensation payment for assignment € 80.000,--
commission fee for sponsoring € 3.000,--
down line-levels for sponsoring 6
single investment for member € 51,--
of it administrative costs € 45,--
transaction costs € 5,--
safety (contract examination) € 1,--
final deadline till all members have to be reached July 31st 2008
date of payment about 8-12 weeks after reach of 50.000 members
Only members who will not have reached their 67th birthday till July
31st 2008 can participate.
------------------------------
pinetree

Quote:

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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

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

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

Quote:

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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.......

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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.

Quote:

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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.

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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….

Quote:

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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….

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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.

LynnnRE……I don’t want to belittle anyone I am just trying to help those who may be newbie’s and think that the sites they come across are genuinely real this is just an example of how you can dress things up to look real.

The credit for coming up with the “prose” must go to my colleague James who’s actually manages more corporate money than the whole of this forum put together probably earns in a lifetime.

I fully understand your thoughts and consideration, and I applaud you for it. I was merely pointing out the hypocrisy of those who "promote" but don't "promote" programs they claim they are not a member. Being nice doesn't work with many of them, unfortunately; but having said that I am glad they have been "civil" to you. At least so far, but I see the signs of that quickly disappearing. They don't like "FACTS" being presented, and especially the ones presenting them.