LIPS is going to die unless AB does some quick damage limitation.
It is an unreasonable request to ask people to pay a years premium into a personal account. Not through reasons of trust but because unexpected circumstances could prevent AB from accessing the funds.
Had a request been made for say 1-2 months premium paid into his account as a stop gap pending alternative and acceptable arrangements being introduced then I would have stumped up the cash.
Because I doubt that most people will pay a years premium into a personal account I will not make that payment either, because under those circumstances I expect LIPS to fail, therefore I would lose my money and not be insured anyway.
I want LIPS to be a success but action is needed now.