HYIP Insurance - Can It Work?

Pages: 1

HYIP Insurance - Can It Work?
(Click here to view the original thread with full colors/images)

Posted by: forwardone

Although I`ve read that insurance schemes exist for HYIP`s, this is the first one I`ve taken a look at.

Great idea, or just another scam?

Judge for yourself- http://hyinsurance.com

"We are a group of experienced HYI investors. Investing in HYI programs is our full time job. Because we have time to research out more programs than most HYI investors, we make quite stable incomes from investing in this arena. Our profits are decent but not outrageous, like some admins claim. Over the years, we have gone through the experience from loss to profit.

Based on our experience, we believe that most people can make a quite nice income from investing in HYI programs if they persist investing in this arena for a few years. Unfortunately many investors gave up after quite substantial losses in the first year. It is therefore desirable for people to cut loss when they are relatively inexperienced.

One way to prevent substantial investment loss is to have insurance. We decided to do this three years ago. But creating a viable insurance plan for HYI was not easy. It took us 22 months to finally work this out. HYInsurance was born in October of 2002."
----------------------------------------------------------------------------------

Geoff

Posted by: jaukki

I would call them a scam.... [-(

Posted by: WL_radix

Works like an HYIP Pool :-s

Posted by: forwardone

I wonder if anyone took out insurance against HYInsurance failing?

The site has gone!

There could be a logical explanation, especially since they have only very recently been talking about having their own people taking a look at PIPS at their convention. Or of course it may have simply collapsed under the weight of having too much money to pay out with all the scams around.

Geoff

Posted by: forwardone

This is a response I saw at TG from their Admin.

Quote:

Our website is down and it will remain down for a few more weeks. The reason is that our domain name was stolen and we were unable to manage our domain account. We are working on every possible option to re-open on the Internet. Before that happens, you can PM me here in this forum. I must warn you though. I only check my PM here once or twice a week. So please allow at least 1 week to get a reply. Thank you!

John Carlson
President of HYInsurance

Geoff

Posted by: forwardone

So, the domain`s been stolen has it?

Quote:

A check on www.whois.com reveals:

www.hyinsurance.com

Creation date.: 17 Mar 2004 01:38:52
Expiration date: 17 Mar 2005 01:38:52

Geoff

Posted by: forwardone

Well judging by this post by John Carlson I spotted earlier it seems that HYInsurance isn`t dead and buried.

Quote:

Have you read our explanation? Our website will be back in a few weeks. In the mean time our business is running without any glitches. We have just insured 7 investments and paid 2 claims in the past week. When our website is down (for reason please read my previous posts), you can PM us here for your insurance needs.

John Carlson
President of HYInsurance

Geoff

Posted by: forwardone

Is this still going, or has it sunk without trace?

Geoff

Posted by: freetheword

Quote:

Originally Posted by forwardone

Is this still going, or has it sunk without trace?

Geoff

Yes our business is operating normally. We just received 2 premium payments and paid a claim.

As to our website, we are still hoping to get the old domain. If that is impossible, we will need to find another domain. It may still take a few months, as we are also planning to revamp the old website. But we are conducting our business with this email.

Best wishes,

John Carlson
President of HYInsurance

Posted by: forwardone

freetheword, thanks for posting that update.

It does seem to be taking them rather a long time to get the domain and website problems resolved, but let`s hope they manage to do so for their `policyholders` sake.

Geoff