THINK BEFORE YOU INVEST

Started by SandyB, July 14, 2008, 09:54:27 AM

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Clive Symes

#30
July 22, 2008, 07:21:04 PM
Sandy, Liberty Life and their policies are a very sore subject with me and would take too long to elaborate. Needless to say I would never recommend any of their products and in fact actively steer people elsewhere.
Instead of providing a return on investment the one policy actually cost me money. The value dropping each year in the final five years before payout.

SandyB

#31
July 22, 2008, 07:26:25 PM
@ Clive .. Ouch ! at least  what john had put in grew  and one had life cover ( the magical ingredient  that outstrips any saving if one  snuffs ) .. just the difficulty I had in getting what was left to me .. but yes i would never do business with them and would not recomend them  to anyone I know ..
To see  sometimes  requires that you  first believe .

Michael Alexander

#32
July 22, 2008, 07:58:50 PM
Good Idea for a new website..... Libertylifesux.com

image19
OPS 1976-1982 : CBC 1982-1988

SandyB

#33
July 22, 2008, 08:03:59 PM
Good one Mike .. for me i walk away from this one ... got what was due .. their problems will catch up with them .. and they will reap what they ahve sown .. I believe the wheel is round  and what goes around comes around ..  my campaign will most probably surface on the net every so now and again as stuff does  .. just as a reminder ...
To see  sometimes  requires that you  first believe .

Dalene Steenkamp (Coetzee)

#34
July 22, 2008, 11:14:26 PM
@Clive  -  once again I come back to the broker on the money you lost.

Your policy most likely was invested into a full share portfolio that gains no fixed or claim bonuses at the end of each specified period in a year.  Thus, the total value of your investment was linked directly to the value of the underlying shares in the specific fund into which your capital was invested.   I make the assumption, because I don't have the proper info, that the risk factor of the underlying fund was not mentioned.  At the time you took out the policy, the shares were doing real good, so the broker assumably directed you towards the specific underlying fund, did the quote and promised you a return after a number of years, based on the quote that was done at time of inception.

Now, my point:  your broker should have contacted you again on a yearly basis to review your total portfolio, but also to review the underlying funds of all your policies and should have reccommended you do a fund switch within to policy to a more stable fund or even to a guaranteed fund.

To everyone who reads this:  PLEASE TAKE NOTE OF THE FACT THAT YOU ARE ALLOWED TO DO FUND SWITCHES WITHIN YOUR POLICIES FROM A HIGH RISK FUND TO A LOWER RISK FUND OR A SMOOTHED BONUS FUND.  HOWEVER, IF YOU ARE IN A GUARANTEED FUND, YOU CANNOT SWITCH TO A HIGHER RISK FUND TO GET EXPOSURE TO A POSSIBLE HIGHER RETURN LEVEL.  THE SWITCH MAY COST YOU A FEW BUCKS, THAT IS DEDUCTED DIRECTLY FROM YOUR FUND VALUE, BUT IN THE END YOU MIGHT BE HAPPIER WITH THE SWITCH THAN LOSING A BIG AMOUNT OF MONEY ON MATURITY DATE.  AGAIN  -  TAKE THIS UP WITH YOUR OWN ADVISOR WHOM YOU TRUST OR GET ANOTHER ONE WHO IS BETTER INFORMED!  My advise to people who near retirement age is always to review your funds, even in your own pension fund.  Even there you are allowed to switch.
Life becomes harder for us when we live for others, but it also becomes richer and happier. Friendship is a sheltering tree.

To be clever enough to get a great deal of money, one must be stupid enough to want it.

Those who bring sunshine to the lives of other cannot keep it from themselves.

SandyB

#35
July 23, 2008, 02:38:00 PM
Tanks  for  dat  advice ... will keep it in mind ..
To see  sometimes  requires that you  first believe .

Clive Symes

#36
July 23, 2008, 07:29:40 PM
Daleen, beleive you me 40 years ago when the policy was taken out all the options you have available today were not available then.
Yes the policy promised a return and initially all the correspondence indicated yearly gains some better than others, but as I said in the final 5 years these dropped by leaps and bounds (even though other investments indicated growth and I had the proof of that growth in annual percentages) The liberty broker I eventually contacted gave me facts an figures CPI indexes etc and said that the Liberty managers took a cautious approach ( that lost me money)
Anyway as you can tell I do not trust Liberty Life or brokers in general, I beleive they take the cream of any investment the public make in their company.

And dont get me started on the Banking industry,
Thats a subject on its own.

Dalene Steenkamp (Coetzee)

#37
July 23, 2008, 08:25:29 PM
Cautious approach  -  in my language that means guarantees!  This fool was taking a cautious approach with you, for he knew you were on the verge of knocking out his teeth & post them to the house mouse who is the big boss at Liberty.

This is very bad of me, but do you know what we lot in the Mutual say about Liberty  -  sort of gave them a slogan of our own:

Liberty Life  -  you are someone special to us, thus you have the freedom to lose your money any witch way you like.
Life becomes harder for us when we live for others, but it also becomes richer and happier. Friendship is a sheltering tree.

To be clever enough to get a great deal of money, one must be stupid enough to want it.

Those who bring sunshine to the lives of other cannot keep it from themselves.

SandyB

#38
July 23, 2008, 08:28:14 PM
Hey  Dalene .. i hope you tucked in bed with laptop ... and not wandering around home ... rest  rest  rest ...
To see  sometimes  requires that you  first believe .

Dalene Steenkamp (Coetzee)

#39
July 23, 2008, 08:37:15 PM
Exactly where I am.  PJ's on  -  under blankets  -  got a flask of tea & 2 litres of water with me (space on the bedside table is being fought over by bottles, mug, glass, flask).  Only time I get up is to go to the loo.....
Life becomes harder for us when we live for others, but it also becomes richer and happier. Friendship is a sheltering tree.

To be clever enough to get a great deal of money, one must be stupid enough to want it.

Those who bring sunshine to the lives of other cannot keep it from themselves.

Clive Symes

#40
July 24, 2008, 07:09:19 PM
Daleen,
I like your slogan.
Just you just get well and enjoy the rest

Donald Duck

#41
July 25, 2008, 12:31:37 PM
Sorry, don't mean to be flippant about something very serious, but I couldn't resist posting this :

Sex-Insurance
===========
Recent studies have shown increasing demand of people not only seeking life insurance, but more specifically Sex-Insurance.   
The insurance companies have formulated the following options:   

Option 1:

If you sleep with your wife   

-         LEGAL & GENERAL

Option 2:

If you sleep with your wife in your car   

-         AUTO & GENERAL

Option 3:

If you sleep with someone else's wife:   

-         MUTUAL & FEDERAL

Option 4:

Sleeping with your mother-in-law   

-         OLD MUTUAL

Option 5:

If you sleep with a Bushman-girl   

-         SANLAM

Option 6:

Sleeping with more than one person at the same time   

-         PRESTASIE MULTIPLEX

Option 7:

Taking advantage of the person you sleep with   

-         LIBERTY LIFE

Option 8:

Man sleeping with another man   

-         HOLLARD   

Option 9:

Having sex on the spur of the moment   

-         MOMENTUM

Option 10:

Sleeping with your ex-wife   

-         OUTSURANCE

Option 11:

Sleeping with a prostitute   

-         BUDGET


Option 12:

Having sex with someone you don't even know
     - DISCOVERY

SandyB

#42
July 25, 2008, 01:35:45 PM


Taking advantage of the person you sleep with   

-         LIBERTY LIFE

Ha ha !!
To see  sometimes  requires that you  first believe .

Andrewette (Theron)

#43
July 25, 2008, 02:08:00 PM
 image201

Think I'm gonna change from Discovery to Libety Life!
Andrewette van der Westhuizen
Oranjemund 1966 - 1980
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