Life Settlement News

To elevate life settlement knowledge and expertise nationwide, Invescor, Ltd., in partnership with the National Underwriter Company, has launched the most authoritative and comprehensive online life settlement training program in the country.

Program Offers CE Credit, Addresses Broker-Dealer Firm Element Requirements

The Life Insurance Settlement Association announced the passage of a new law in New York that establishes comprehensive regulation of Life Settlements in that state. The new law introduced at the request of the New York State Insurance Department by Senator Neil Breslin (S66009) and Assemblyman Joseph Morelle (A40009), is based on the National Conference of Insurance Legislators (NCOIL) Life Settlement Model Act.

New York’s state Legislature has passed a bill that would to regulate life settlements, requiring brokers and intermediaries to get their insurance licenses.

Standard & Poor’s Ratings Services says that it sees inherent risks in securitizing life settlements and that it won’t be rating this type of investment any time soon.

Innovative New Platform Allows Islamic Investors to Diversify Holdings Using an Uncorrelated Asset Class

On November 8-10, life settlement professionals from all walks of life will converge on New York City for the Life Insurance Settlement Association’s (LISA) 15th Annual Fall Life Settlement Conference. As 2009 winds down and the US economy shows signs of leveling, LISA proudly brings together sophisticated investors, institutional funders and other life settlement professionals for an intimate three day meeting. The LISA Fall Conference comes in the midst of a significant show of interest by the federal government and the general public. With hearings on Capitol Hill, increased activity on Wall Street and a surge in mainstream media, the life settlement industry is poised to make major gains in investment influx and public awareness.

Yesterday, World News Tonight (ABC) considered Life Settlements. Producers of the program found a physician consumer, Dr. Eddy Powell, who had happily sold his life insurance policy for far more than the value which the life insurer would have offered him at the time. Dr. Powell sold the policy for a value which required the buyer to pay the premiums for the rest of Dr. Powell’s (presumably long) life. In the ABC piece, Dr. Powell expressed regret for having sold the policy because, though the sale afforded him the ability to pay off his debts, he was no longer the owner of the policy. According to some experts, Dr. Powell appeared to have forgotten that, before considering the life settlement option, he faced two unsavory choices: sell his policy to the insurer for pennies on the dollar or allow it to lapse for a complete loss. The Life Insurance Settlement Association (LISA) encourages people who can hang onto their policies to do so, but for those who would otherwise lapse or surrender their policies, the settlement option should be considered wherever possible. The public needs to know that they have choices and that a life settlement is one of them.

The Institutional Life Markets Association outlined today the major differences between life settlement securitizations and the securitization of mortgages during testimony before the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.

A recent article in Investment News warned companies of the dangers of not investing resources into their respective compliance departments. Failure to heed that warning could cost companies more in resulting fines than the cost of any immediate investments in the retention of and education for their compliance personnel.

DealFlow Media, publisher of The Life Settlements Report, will host The Life Settlements Conference, the largest independent event for investors, providers, and brokers involved in the secondary life market. The agenda features the most complete curriculum in the business with intensive programming from industry experts, and top legislators from around the country. You won’t find this education anywhere else.