Legacy Benefits Gears up for Growth

Legacy Benefits Corporation (New York), a recognized leader and innovator in the life settlements industry, announces a major new effort aimed at attracting a greater volume of policies from today’s growing number of sellers and at originating an ever-larger number of life settlement assets for its institutional clients. Supporting this effort is an ongoing expansion of professional staff, corporate offices and IT infrastructure.

“The life settlements field is poised for major growth as more and more people seek alternate investments yielding safe but high returns,” said Meir Eliav, Legacy Benefits President. “As one of the first firms to specialize in the life settlements field, Legacy has an extensive understanding of the market and is committed to capitalizing on this background given the burgeoning interest on the part of investors.”

Accordingly, during the past six weeks, Legacy Benefits has created and staffed four new positions to manage functions that include relationships with new brokers and agents, pricing and portfolio data, and documentation for closed cases. An expanded legal staff will contribute to securing of new licenses, negotiation of contracts as well as underwriting support for due diligence on policy purchases.

The firm also is enlarging its headquarters with new offices and conference facilities to enable a staffing increase of more than 50 percent. The space will be contiguous with its office on the 43rd floor of the Empire State Building.

Additionally, a major IT upgrade will provide the infrastructure to support a growing volume of increasingly complex transactions.

About Legacy Benefits

A recognized leader in the life settlement industry, Legacy Benefits pioneered this burgeoning specialty finance field more than 15 years ago and today maintains its reputation as an industry innovator. Since 1991, Legacy Benefits has specialized in the origination, servicing and management of life insurance assets for a broad range of institutional clients. It utilizes an ever-evolving array of sophisticated analytical tools and upholds the highest ethical standards when evaluating and acquiring unwanted or unneeded insurance policies for its institutional clientele. Legacy Benefits was founded by company president Meir Eliav, a 30-year financial services veteran, who was a founding member and past-president of the Life Insurance Settlement Association (LISA), the largest U.S. trade association in the industry.

In 2004, the innovative firm became the first ever to originate a portfolio of life settlement assets for a securitization transaction rated A1/Baa3 rating by Moody’s Investor Services. In 2006, Legacy Benefits received and reviewed life insurance policies covering 8,000 lives with a total face value of approximately U.S. $12 billion. Visit the company’s website at www.legacybenefits.com.