Life Settlement News

In light of recent revelations regarding the mass purchase of investor-initiated life insurance at Oklahoma State University, state legislators and regulators should beware of protectionist measures sponsored by life insurors, says Doug Head, executive director of the Life Insurance Settlement Association.

The Life Insurance and Annuities (A) Committee of the National Association of Insurance Commissioners (NAIC) today adopted highly debated amendments to the Viatical Settlements Model Regulation during the Association’s Winter National Meeting in San Antonio.

The American Council of Life Insurers (ACLI), the Association for Advanced Life Underwriting (AALU), the National Association of Insurance and Financial Advisors (NAIFA), and the National Association of Independent Life Brokerage Agencies (NAILBA) are calling for changes to state regulation to protect the vital, social purposes of life insurance from transactions known as stranger-originated life insurance (STOLI).