ED Magedson – Founder
Life Partners Inc.204 Woodhew Dr Waco, Texas United States of America
We invested $13,520 with Life Partners for a viatical life insurance policy.
We were told that the man was diagnosed with AIDS, cervical myelopathy, diarrhea, anorexia, hypertinsion, weight loss and oral thrush when we purchased the policy January 30, 2008. He had a life expectancy of 1 to 2 years.
We contacted Life Partners December 2009 for an update on the 31 year old male and were told that the insured has declined to respond directly to inquiries.
We do not know if he is still alive, we can not get information about his condition, we invested money, which he received within 5 workong days, and we seem to have no rights here.
Life Partners claims they track his social security number and review all obituaries from his area but with no response from him how can we be sure?
We are pretty convinced that this is a scam. We looked up Life Partners on the internet and they only talk about selling life insurance policys and the testmonials are from living people who are so happy about getting rid of the policy and having money. Life Partners is telling us that we are responsible for making the premium payments starting 2011.
We already invested $13,520 expecting a payout upon death within 1 to 2 years and now we have to pay more to keep the policy in effect? That is wrong. After the 2 years we should receive our money back and they can sell this policy to some other sucker.
Please be frightened of Alternative Financial Solutions, LTD. Earl Serap Financial Advisor, Las Vegas , Nevada and Starkey Sorrell Insurance, Lufkin, Texas and most importantly Life Partners Inc. Waco Texas, Brian D. Pardo Chairman and Liz Pardo with the Claims Department
This report was posted on Ripoff Report on 12/21/2009 12:46 PM and is a permanent record located here: http://www.ripoffreport.com/r/Life-Partners-Inc/Waco-Texas-76712/Life-Partners-Inc-viatical-life-insurance-Waco-Texas-543093. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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