Industry News
Broker-Initiated Survey To Focus On Life Settlements
"Life Settlements Insights, LLC., 3 January 2007ClevelandAn Internet-based survey is expected to illustrate how insurance agents and other financialadvisors are approaching potential transactions in the rapidly-evolving life settlementmarketplace. Cleveland-based Life Settlement Insights (LSI), a leading life settlement brokeragefirm, commissioned the survey, which will be conducted January 11, 2007..."
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Stranger Oriented Policies Sold Despite ACLI Oposition
Stranger-originated and investor-originated life insurance is a fast-growing and huge piece of the overall lifesettlement market...
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Get Savvy Before You Sell Your Life Insurance Policy
By: Janet Kidd Stewart
"Want to raise cash during retirement from someplace other than your retirement accounts?....Selling a life insurance policy you no longer need seems like a perfect solution, akin toputting unwanted items out in the garage and collecting a little return from the neighbors on yourold junk.The $13 billion life insurance secondary market operates like the world's largest life insurance garage sale--an offshoot of the viatical industry..."
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Inside the Life Settlement Industry: An Institutional Investor's Perspective.
By: Craig Seitel
"Given the potential for significant rewards coupled with manageable credit risk, it is no surprise that life settlements continue to grow in popularity as an alternative investment vehicle for fund managers..."
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Modernizing Insurance Regulation Remains Top Priority for OFCC
OFCC (Optional Federal Charter Coalition) Press Release
"The financial services industry this week renewed its commitment to modernizing the nation’sinsurance regulatory system through enactment of federal legislation creating an optionalfederal charter..."
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LIFE SETTLEMENTS:
The Next Big Thing for Brokers
by Sid Friedman
One of the hot new products to emerge in life insurance over the last few years has been life settlements. Often misunderstood and wrongly termed "viaticals," life settlements provide brokers and agents a way to simultaneously deliver clients a cash settlement for an unwanted policy while spinning commission dollars out of seeming thin air. The challenge to brokers who want to market life settlements is that their very sophistication disqualifies many agents from identifying, presenting and offering life settlement options to their clients. That's unfortunate, because the life settlement market has grown from $200 million in 1998 to an estimated $4 billion in 2003, according to Erich Sippel and Co, a life insurance consulting firm. And the market will grow to $10 to $15 billion by 2005.
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Amendment to 'Model Regulation' Opens Door for Insurance Agents, Consumers, Life Settlement Industry
The amendment approved by the Life and Annuities Committee clears the way for life insurance agents to act as viatical and life settlement brokers in their state of licensure, simply by virtue of their life license(s) and by notifying their state's insurance department that they intend to act as a broker.
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A.M. BEST
Life Settlement Securitization
A life settlement is an insurance policy sold by the owner - typically the insured or a trust - for an amount greater than the surrender value of the policy but lower than the face amount of the policy. The purchaser of the life settlement becomes the new owner and beneficiary of the life insurance policy and is responsible for making future premium payments and collecting the death benefits of the insured..
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Death's Aftermarket
By Matthew Goldstein
Wall Street's fascination with the workings of chance has found a morbid outlet in the exploding market for wagers on how long rich people with big life insurance policies will live. Wall Street's biggest-money players are vying for a piece of what's estimated to be the $4-billion-a-year business of life settlements...
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New Lease on Life
The secondary market in life-insurance policies is good for consumers.
After savings accounts and governement bonds, life insurance may be the most respectable of investments. It was not always so.
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Under Scrutiny - Life Settlements
It’s hard for life settlements to break away from the less than-
stellar reputation initiated by the viatical industry. But why shouldn’t it
be; they’re very similar products. But they are also different...
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