Loan

Aug 28 2017

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# Javascript is not enabled. Deceptive Insurance Deals (STOLIs) There’s an evil cousin of legitimate life settlements out there, says Jack Dolan, vice president for media relations with the American Council of Life Insurers. It’s called ‘Stranger-Originated Life Insurance,’ or ‘a STOLI arrangement,’ and it’s all about getting unsuspecting consumers to deceive the insurance industry, at great personal risk to the individuals. Here’s how a STOLI works: A STOLI promoter—generally a financially savvy person—approaches you about buying a hefty life insurance policy on yourself. Working independently of any insurance company, the third-party promoter promises you a big cash payment up …