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Wed, May 31, 06 at 18:53
| Can anyone explain to me what these are and how they work? Can money be taken from them without penalty at anytime? Are they guaranteed only at maturity? If the person dies can they be redeemed without penalty? Would they have better return that ordinary GIC's? I'm from Canada so don't know if this makes any difference.
Thanks for any info you can share
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Follow-Up Postings:
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| Sorry, can't help. I've never heard of them. Anyone else know? |
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| When you hear about "investments" that nobody ever heard of it would be wise to avoid them. Are they something you can walk into your bank and ask about? |
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| I checked into them with both a lawyer and 2 financial advisors. The lawyer had heard of them but knew nothing about them. One financial advisor knew nothing about them either. The second one was very familiar with them and said that they were not something that he would advise. He felt that they were set up in such a way that they made money for the companies but very little for the client. I took his advice and am staying away from them. However I am glad for the info.
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