WHAT IS MUTUAL BENEFITS?

Mutual Benefits Corp., which opened in 1994, was a company that bought and sold viaticals. They were based out of Ft. Lauderdale Florida on Oakland Park Blvd. If you don't know what a viatical is, then here is the breakdown: First, you have someone that is terminally ill. If that individual has a life insurance policy they have the option to sell the policy.Let's say the policy is worth $200,000. The patient must have a short life expectancy; can be anywhere from six months to six years. A broker from Mutual Benefits would offer the individual a small percentage of what the policy is worth. In this case, the broker would most likely offer about $60,000, if the individual was given a one year life expectancy from the physician. The shorter the life expectancy, the more the broker would offer the patient. Then the broker would sell the policy to an investor for about double than what was paid for it. The money from the investor is then used to pay the premiums, and maintane the policy untill the death of the patient. Once the patient dies, the investor then collects the $200,000 payout. In most cases this benefits the patient because they can enjoy the money they receive for selling the policy. Most people that are termially ill are in turmoil, and are experiencing financial setbacks. This would be the answer to all the financial distress. The investor also makes a healthy profit which in turn makes a good investment.
This is a short summary of what Mutual Benefits was, and in the near future I will reveal what was my role in the company. Mutual Benefits was open from 1994 to 2004, and generated millions of dollars in profits through viatical investments.