The Editor, Sir:

In 1996 I purchased a Real Life Plan from First Life Ins. Co. (which was subsequently taken over by Life of Jamaica). I paid my premium every month for 11 years (approx. $367,608.12, without interest).

In 2007 when I surrendered the policy, I was advised by LoJ that due to mortality charges and admin. expenses, the fund value of the policy is negative and the cash surrender value will be $65,827.11.

The point of my story is that placing one's money with Cash Plus is a known risk which some are willing to take; purchasing an insurance policy for one's pension is supposed to be, for me anyway, a surety.

This just shows that there are so-called legitimate businesses who are treating their clients unfairly because they are 'registered' and the clients have no recourse. I would have been better off had I put my money with Cash Plus.

I am, etc.,

Y.E. FENTON

yasminfenton@hotmail.com