HighYieldShield -- Cheaters

#1 11-07-2003, 01:17 PM

They are using bait-and-switch tactics.

They were advertising a rate for C2C of 0.26, so I went ahead and purchased it. But then, they canceled my insurance policy and jacked the price up to 0.99. Not nice indeed.

Pretty dodgy isn't it, advertising one price but only accepting another...

#2 11-07-2003, 02:08 PM

Guess they found out about the concerns being stated over C2C.

#3 11-07-2003, 11:41 PM

Yeah, obviously the case.

It's incredibly dishonest though. If you had your home insured against fire, would you be expecting the insurer to suddenly cancel your insurance policy the moment a bushfire was about to consume your house?!

#4 11-08-2003, 04:23 AM

No, but at the same time, as the insurer, I'd be concerned about the guy who asks for insurance when the fire is in his front yard. Honestly... how was your timing? If late, it was a nice try anyway! If I was invested, I would have tried. (did you get the insurance anyway?)

Regards,

Paul

#5 11-08-2003, 04:29 AM

HYIP Insurance isn't possible simply because every HYIP is destined to fail, so the insurance company would never make a profit. They offer six-month insurance policies. If history is any indication, only one or two of the hundreds of HYIPs right now will remain in six months.

Moco64 · #6 11-08-2003, 04:47 AM

The fact that anyone is willing to purchase insurance for HYIPs is absolutely ridiculous. In the real world, people pay premiums in order to create a "risk pool". This premium is calculated based on statistical data collected which allows for what is often an accurate extrapolation of data which can be used to ensure that the amount claimed never exceeds the amount in the risk pool. HYIPs failing simply cannot be compared to car crashes and deaths. "HYIP insurance companies" attempt to hide this fact through use of vague, meaningless comments.

http://highyieldshield.com/details.asp

#7 11-10-2003, 04:04 AM

We admit that we need to do a better job of explaining our coverage activation policy on our site. Please see this post on our forum for more information about this issue: http://www.highyieldshield.com/forum/forum...asp?TID=22&PN=1

Thank you,
Steve

#8 11-10-2003, 05:36 AM

By the moment hys seems an honest project to me but time will tell...
I'm not trying to defend anyone but just some facts:

Quote:

They are using bait-and-switch tactics.

They were advertising a rate for C2C of 0.26, so I went ahead and purchased it. But then, they canceled my insurance policy and jacked the price up to 0.99. Not nice indeed.

Pretty dodgy isn't it, advertising one price but only accepting another...

Quote:

No, but at the same time, as the insurer, I'd be concerned about the guy who asks for insurance when the fire is in his front yard. Honestly... how was your timing? If late, it was a nice try anyway! If I was invested, I would have tried. (did you get the insurance anyway?)

Regards,

Paul

I bought one at 0.24 one day before you, and got approved the next day. Then they raised to 0.26 (24 hours approval is an honest and correct measure to me).

Quote:

HYIP Insurance isn't possible simply because every HYIP is destined to fail, so the insurance company would never make a profit. They offer six-month insurance policies. If history is any indication, only one or two of the hundreds of HYIPs right now will remain in six months.

They don't offer coverage for every program. Most of the programs they offer coverage for will last/has lasted six months. They also have a $500 limit coverage.