Pacific West Capital Group

Beware: any potential investor should be prepared to check the SEC web site for investigations, for instance this one: "SEC Charges L.A.-Based Pacific West Capital Group With Fraud in Sale of Life Settlement Investments "

It all looks so good on the surface. When they pitch it to you, it sounds too good to be true. The pitch is, you get "X" return on your investment. In my case, 20,000 returns 50,000 on maturity. The scenario is, Pacific West makes premium payments for 8 years, after which the investors have to pay their share on a percentage basis to maintain the policy. If the policy matures inside the first 8 years, it's all good, your investment is what you expected going in. Here's the rub, My policy is/was a universal life policy. Dangerous, because of a sliding premium scale that is unpredictable and can skyrocket. To make universal life more attractive, insurance companies will allow a certain minimum payment for a given period. This, I assume, is where Pacific West burrows in. In my paperwork ,on my policy, It states that Pacific West Capital Group's trustee will pay the premium of $9506.00 . Since this is the only number listed, my assumption is, it will be this number.... For each calendar year after... Now, however, the 8 years have lapsed, and I recently got a bill from the trustee stating the premium for June of 2016 to end of May 2017 is a staggering $56,541.00 and that I am responsible for my percentage of it. The next years estimate is $89,772.84 and the year after is $122,143.56.
At my percentage it will take 4 calendar years for my Investment to exceed my return of $50,000.00. The question becomes, do I walk away with only a $20,000.00 loss or gamble that the policy will mature before I have maxed out? Since there is no available data on the principal, I have no way to measure the risk and am left to my own devises. One thing is sure, this is the last time I will put myself in such a position.