Is there still a market for these?
I will always remember when I was a broker I have a client 'invest' in these - the husband and wife each 'bought' one. In case you are reading this wondering what they bought, they basically bought the right on these contracts who were on peoples' lives. Yes, you are hoping these people die and much sooner than first thought.
It's a very disturbing 'investment' practice in my opinion. I get the idea and understand the premise, but it's still very morbid.
I just remember one conversation with this client when he came in one day really upset. I thought a stock we bought as in the shitter or something. Turns out the person's life who this 'investment' was on bounced back from cancer treatement thru chemo. He was terribly upset that this person was going to live A LOT longer than was thought and now he was losing money b/c this person would not die.
Sounds like fun, doesn't it?
