There are things i call dead stories and for me the Legacy one is one.. only interest to others is a reminder of if its too good to be true it probably is and that some of the people selling policies aren’t as innocent as they make out. Result being in future be more cautious where you put your money.
Now what dragged this up? Well its to do with a particular expat in regards to a post I made on a forum about hard selling. Which he quickly mentions no hard sell in his emails.. yet forgets the visit to his house where he had paperwork and pen ready to sign up which is why I never signed up purely because if someone is so desperate for you to buy into it “sign today” its probably very high risk. Which I was right to wait and look into it more to make sure everything was ok, which it wasn’t and billions of peoples money went down the toilet.
Back on to the events that took place I visited the persons house to discuss the investments and while up in his sitting room being told how things were guaranteed and how he had started investing a few years ago wishing he had done it sooner. His wife was busy downstairs talking to my wife asking if she had access to my money and if I control April’s finances. Now there are two things I want to mention that are very important on this matter A. The techniques used are HARD SELL which the person seems to not understand. B. The person trying to sell me the policies was and is not the legal agent his wife is which is something he has disputed at other times regarding other expats. HE sold the policies I never heard his wife once mention policies directly to me it just seemed to be a fake front to get round legalities rather than above board.
The same pair have moved onto other investments and I would advise caution on any investments in the Philippines unless you check them out thoroughly to make sure
A. The investment is good.
B. The people involved are accountable on failure.
C. Business and returns match (e.g. if they are promising 5% a month is it really possible?).
D. What insurances are available against loss and if things did go wrong can you sue.
E. Remember that it took a long time to earn your investment but you can lose the lot in 5min.
Another major thing people overlook is that if someone is an Expat and offering you a deal its probably because they need it and your easy pickings. So treat them with that in mind that they are looking out for themselves more than they are you. Ask around opinions from other people that have dealt with them previously and most importantly just don’t invest straight away if your not happy another investment will no doubt come along sooner or later better to have your money waiting than lose it on a high risk.