Posts Tagged ‘life insurance policies’

Wisconsin Senate Approves Settlement Bill

Thursday, February 25th, 2010

National Underwriter Life and Health

By: Trevor Thomas

The Wisconsin Senate Tuesday unanimously passed a bill requiring life insurance policies to be in force at least 5 years before consumers can sell the policies through a settlement. The bill, S.B. 513, would change an older law that has permitted consumers to sell policies after holding the policies for 2 years.

Commentary by Life Policy Group:

Evidence that consumer choice is restricted again because the regulators and the life offices will not properly monitor the applications for life insurance and act accordingly.

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Posted in Life Settlements News, National Underwriter Life & Health | No Comments »

Commentary: Protect Wisconsin Consumers — Stop the Insurance Scams

Monday, February 15th, 2010

The Journal Times

By: State Sen. John Lehman Racine

Years ago there was a popular television game show called “You Bet Your Life.” Today, unscrupulous scam artists are playing an updated version with a financial scheme targeting seniors, the severely ill and investors using “stranger-originated life insurance.” But instead of fabulous prizes and vacations, victims are left with parting gifts like unexpected tax liabilities, legal bills and problems purchasing life insurance.

The scam is based on “viatical” life insurance transactions. Created to help gravely ill individuals, these agreements allow people to cash in their life insurance policies before the date of maturity and use the funds to cover medical bills or health insurance costs.

Commentary by Life Policy Group:

The sooner all states outlaw STOLI the better it will be for all.

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Posted in Life Settlement Market, The Journal Times | No Comments »

Money and Your Life: Investors Bet on Mortality

Sunday, October 18th, 2009

ABC NEWS

By: Bill Weir and Jake Whitman

Fresh off the meltdown of the mortgage business last year, Wall Street’s bankers have found a new way to make money: the buying and selling of life insurance policies belonging to the sick and elderly.

Read the original article here

Commentary by Life Policy:

This article tries to portray the market as being the banker’s new scam, however it does explain why even the highly educated professional may need the market.

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Posted in ABC News, Life Settlements News | No Comments »

Cashed-Out Insurance Policies Find New Investment Life in Bundles

Monday, October 5th, 2009

San Diego Business Journal

By: Mike Allen

Just as stocks, bonds and real estate have markets where the assets are readily bought and sold, there’s a market for life insurance policies, and some brokers are finding it fairly lucrative.

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Posted in Life Settlement Market, San Diego Business Journal | No Comments »

More Americans Cashing in on Life Insurance Policies

Tuesday, September 22nd, 2009

New Jersey Star-Ledger

By: Susan Todd

Many older Americans, who are strapped for cash and as anxious as the rest of us, are selling an unlikely asset: their life insurance policies.

Read the original article here

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Posted in Life Settlements News, New Jersey Star-Ledger | No Comments »