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Viaticals Fraud

You buy out their insurance policy at a discount, and they get the cash now to have money to buy medicines or hospital care. When they die, you get a nice profit and the satisfaction of having made the rest of somebody's life a little nicer. Unfortunately, this is a loosely-regulated industry where scam artists sell bogus policies and people feign illnesses to get your Quatloos now.

• Exhibit: Viaticals Fraud
  Fraudulent viatical settlements schemes have taken off as they can attract people who are desperately in need of more money from their small investment funds, by offering returns that are above market rates.

NASD Warns on Viaticals
The National Association for Securities Dealers has issued a warning about so-called viatical settlements, i.e., purchasing as an investment the life insurance policy of somebody suffering from a fatal illness

NEW! - Aritcle on the rising trend of Viatical Settlements

NEW! -- Truth About Life Settlements - Life Insurance Rescue

New! - The Life Settlements Market: An Actuarial Perspective on Consumer Economic Value - 2005 Study by Deloitte Consulting LLP and the University of Connecticut, reprinted with permission.