Successful 2007 for Life Settlement Provider
February 29, 2008 by Administrator

Yesterday I read a life settlement article, actually a press release about Legacy Benefits, a Life Insurance Settlement Provider, who had a very successful 2007.

Legacy Benefits Corporation has announced that it had concluded its most successful year in 2007, more than doubling its business results in life settlement transactions while securing a major equity investment by Mofet Holdings, Ltd.

We would like to congratulate Legacy on their success and wish them the best in the future. The Life Settlement Industry continues to grow at a strong pace, and we look for 2008 to be another year of growth.

New to Life Settlements? Have Questions? Call 1-888-973-8377 for an information packet and any assistance you might need.

Life Expectancy Update
February 26, 2008 by Administrator

In the Life Settlement Industry, a life expectancy (LE) is a commonly used report for pricing an insured policy. There are a few third party life expectancy companies that generate these reports. They are 21st Services, AVS, Fasano, EMSI, ISC, and few smaller firms. The press release is an update from Fasano.

Fasano Announces New Mortality Tables for Over-65 Market

WASHINGTON, D.C. — (BUSINESS WIRE) — , February 26, 2008: Fasano Associates announced their development of new mortality tables for the over-65 life settlement market at the BVZL sponsored Life Settlement Conference held in Frankfurt, Germany on February 20th.

Fasano will apply multiple mortality tables that will be a function of the overall mortality rating of the individual being reviewed.

Said Mike Fasano, President of Fasano Associates, “We have undertaken extensive research on mortality in the over-65 market, which shows distinct mortality patterns that vary by the severity, or mortality rating, of the individual’s health condition. These are groundbreaking findings that will allow us to further refine our estimates of life expectancy.”

Fasano’s estimates of life expectancy already are among the most accurate in the business, with two successive independent actuarial studies establishing a 96% Actual to Expected accuracy ratio for Fasano’s life expectancy estimates.

“This will not only help in developing even more accurate life expectancy estimates, but in better predicting the pattern of mortality over time.”

About Fasano Associates:

Fasano Associates is a leading underwriting consulting firm, serving the life, health and life settlement industries.

Call 1-888-973-8377 to speak with a Life Settlement Professional about your specific policy or a client’s policy. 

Peachtree Closes on Life Settlement Facility
February 25, 2008 by Administrator

BOYNTON BEACH, Fla.–(BUSINESS WIRE)–February 25, 2008–Peach Holdings, Inc. (“Peachtree”) announces that it has closed on a credit facility of $950 million for the acquisition of life settlement assets. James Terlizzi, Peachtree’ s CEO said, “We are delighted that we have been able to conclude this transaction and are eager to continue the acceleration of our life settlement business. The markets appear to be recognizing the uncorrelated, high credit quality nature of these assets. Given the substantial issues facing world financial markets it is especially satisfying to have closed on this nearly $1 billion facility.”

Ernest Jordan, the head of Peachtree’ s Life Finance department stated, “This facility will allow us to accelerate our pace of originations and focus on building our distribution engine. Peachtree’ s Capital Markets Group has done an outstanding job of delivering the fuel for our growth.”

About Peachtree
Peach Holdings, Inc., a Florida corporation, is the parent (holding) company of the Peach group of companies, including, among others, Peachtree Settlement Funding, Peachtree Pre-Settlement Funding and Peachtree LBP Finance Company (together, “Peachtree”). Peachtree is a specialty factoring company that purchases high-quality deferred payment obligations. Through its group of affiliated companies, Peachtree caters to people seeking to sell structured settlements payments, annuity payments (through an annuity purchase program), lottery prize payments, sweepstakes awards and sports contract payments. In addition, Peachtree provides cash advances to people with pending personal injury claims. Peachtree has purchased over $4 billion of specialty receivables and continues to expand into new areas by bringing institutional financing and professionalism to bear on underserved markets.

Call 1-888-973-8377 to speak with a Life Settlement Professional Today! 

Recent Peacthree related posts here at Life Settlement News:
Premium Financing Funding
Peachtree Life Settlements Obtains Georgia License
Peachtree hires chief capitals market officer

Life Settlement Rules
February 19, 2008 by Administrator

Rules proposed for ‘death bonds’
Life insurance policies sold to third parties

The financial industry that surrounds the trading of life insurance policies — a practice that allows third-party investors to collect money when a person dies — is growing. With its pending bill in Olympia, Washington joins 23 other states with a proposal to put stricter rules on a macabre investment system.

The transactions, known as life insurance settlements, have been dubbed with the darker term “death bonds” when they are bundled and sold as Wall Street investments.

Life insurance settlements are a legitimate business, which allows people to dump old policies in return for cash. But critics say the industry has spawned scammers who take advantage of the elderly by giving them money up front in return for a new life insurance policy. Then the scammers pay the insurance premiums and wait for the senior citizen to die. When a senior dies, the scammer collects life insurance money. The sooner the death, the fewer the premiums paid, the better.

“I think it’s a questionable practice,” said Sen. Jean Berkey, D-Everett, a co-sponsor of the bill.

People should generally care about what they insure, Berkey said. Just as a stranger wouldn’t buy an insurance policy for someone else’s boat, she explained, strangers shouldn’t buy life insurance policies on someone else’s life. Continue Reading »

Senate Life Settlement Hearing
February 19, 2008 by Administrator

LIFE INSURANCE – On Wednesday, the Senate Banking, Finance and Insurance Committee will examine the growing life settlement market, which involves the sale of life insurance policies from the original buyer to a new beneficiary for more than the cash value offered by the insurance company.

Among other things, the committee wants to know if senior citizens, who are the primary targets of life settlement investors, are getting raw deals when they sell their life insurance. The committee’s chairman, Sen. Mike Machado, D-Linden, is drafting legislation to regulate the market.

Source: AP

We will post updates here at LifeSettlementPro.com when we hear them.

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