Types of Securities Fraud You Must Avoid-Viatical Settlements
Viatical settlements were originally created to help seriously ill people pay medical bills by selling the death benefit from their life insurance policy to an investor for immediate cash.
There’s nothing illegal about viatical settlements, but when they're misrepresented, they can become a type of securities fraud.
For example, the health condition of the seller could be falsified or even improve over time, thus impairing the return on investment.
Alternatively, the insurance could be invalid due to fraudulent applications, or there could be no actual insurance or greatly reduced benefits making the investment essentially worthless.
Viatical settlements are complicated investments requiring specialized due diligence skills. They're not for the inexperienced.
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