Posted by: wonderboy | 2007/02/27

is this F scheme for real or a trick

i am about to sing an insurance policy by company called AFU, aparently register as a member you stand to make a furtune, you can act as a broker and for every five people you bring to the company you get R 750 per month every month, all this information comes from a friend of mine who is also considering joining this insurance scheme but my insticts tell me something is wrong with this whole thing, so was wondering has any of you been a victim of this scheme or is this scheme for real help me out before i sing i need an expect opinion on this

Not what you were looking for? Try searching again, or ask your own question
Our expert says:
Expert ImageCyberShrink

SOunds dangerously like a Pyramid Scheme or something uncomfortably similar. Never forget the valuable saying : "If it sounds too good to be true --- it is." If it is a pyramid schme, it could even be illegal. The only guys who make money out of these schemes, are the guys running it, at least until they get arrested. Get their details and promises in writing, too.
And Rick and Laura are dead right about how to check them out.

The information provided does not constitute a diagnosis of your condition. You should consult a medical practitioner or other appropriate health care professional for a physical exmanication, diagnosis and formal advice. Health24 and the expert accept no responsibility or liability for any damage or personal harm you may suffer resulting from making use of this content.

Our users say:
Posted by: FOUND SOMETHING! | 2007/02/27

Check out

Career Opportunities

Maybe it's linked to this????

Posted by: Addamz | 2007/02/27

One word: "Fidentia"

Reply to Addamz
Posted by: Wow | 2007/02/27

it's amazing how informed people are - I am impressed you guyz!

Wonderboy please watch a movie called: Billionaires - it's a Nigerian movie - then your eyes will open up!

Reply to Wow
Posted by: Lauren Auder | 2007/02/27

Ask them for their Financial Services Provider (FSP) number and then call the Financial Services Board (0800 110 443) to find out if they are a registered FSP.
They sound as if they are running a pyramid scheme and it is unlawfull. if they are not a registered FSP then they are contravening the law.

PS Everyone who gives financial advise should be registered with the FSB.

Reply to Lauren Auder
Posted by: RMC | 2007/02/27

Hey I just realised

Asset Forfiture Unit ---- if that is not a dire coincidence I dunno!

Reply to RMC
Posted by: Gem | 2007/02/27

Hi Wonderboy

Our five senses are not always adequate enough in silfering through what is good and what is not. We can't know everything.

Your instinct / gut feel is your inner defense system.
It tries to warn you what your subconscious is picking up as possibly harmful to you (emotionally or physically).

The gut feel or churny tummy is the mouthpiece of your subconscious. Listen to it.

By that I mean to say, act with caution.
If you can validate that warning, don't !

Seek professional advice, ask AFU questions, request their terms & conditions beforehand & evaluate the risk:success ratio. Can you afford to loose money now (with any investment) ? Are there other investment opportunities available to you (with less risk) ? etc.

Investigate Investigate Investigate.

Good luck.

Reply to Gem
Posted by: Rick | 2007/02/27

wonderboy, when it comes to money there is a guiding principle: if it looks too good to be true, then it is.

However, on the off-chance that there may be something like a free lunch or, as Dire Straits put it, Money For Nothing, then make sure that AFU (don't really like the sound of that) is a member, as a financial services provider, of at least one of the following:

LISPA - Linked Investment Service Providers Association, LOA - Life Offices' Association of South Africa, LUASA - Life Under-writers Association 0f South Africa, SAIA - South African Insurance Association.

If they they are, don't take their word it but call the association up and ask them yourself.

Don't be surprised when AFU asks you to part with some of your own money first.

Reply to Rick
Posted by: RMC | 2007/02/27

1. if it sounds too good to be true it probably isn't
2. i cannot see you getting R750 per month indefinitely and how much would these 5 people have to pay to join?

it really sounds like a pyramid scheme

who underwrites them?

and bet your instincts are seldom wrong.

Reply to RMC

Have your say

Thanks for commenting! Your comment will appear on the site shortly.
Thanks for commenting! Your comment will appear on the site shortly.