steve r.'s review of Pacific West Capital Group

Pacific West Capital Group

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Complaint Posted 8/11/2015
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Riskier than they lead you to believe
We bought a life settlement from PWCG in 2006. They lead you to believe there isn't any risk because, after all, you know you will double your money, you just don't know when. But, what they don't make obvious to you is that if after 8 years the person is still alive (and odds are they will be according to life expectancy charts) then YOU must pay the premiums. And that has happened to us. We bought a partial share of a married couple's insurance. Something we weren't aware of then, and something that PWCG certainly didn't give us a clue about, is that this couple, on average, should live for another 14 years! That means we pay their premiums for 6 years. And at nearly $3000 a year this means most of our profits will be gone by the time they both die. And if they live for 18 years ALL of our profits will be gone. And if they live longer than that we actually LOSE money. That's right, we will have had our money invested and 18 years later get LESS than we put in. Now you want to tell me there's no risk? There is. I would never do this again.
 
 
 
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Additional Business Information
Hours   8 am 5 pm Mon-Fri Phone   (800) 588-8000 Address   1901 Avenue of the Stars Suite 680
Los Angeles, CA 90067
Website   http://www.pwcapital.net Email   chelsea@pwcapital.net
Contact   Andrew Calhoun Other  
 
 
 
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