Found this while reading an article by Dave Cherry of 12 New on AzCentral.com. The testitmonial was regarding a quick article about Life Settlements. Testimonial is below:

I’m glad to see Dave covering this topic. I recently went through a life settlement with my mother’s policy to help her get much needed money to cover monthly expenses. I was nervous going into the transaction because I had never heard of it and to be honest it sounded a little morbid. While I agree that this is NOT for everyone in my motherls case it really helped to get her back on her feet. Thanks Dave for always reporting on such relevant issues.

We don’t see enough positives regarding the Life Settlement Industry, especially since this product can benefit many seniors across the nation.

Here are some parts of this interesting article…

Coventry Florida Life Settlement Ruling

An administrative law judge in Florida has thrown out a Pennsylvania-based life settlement firm’s request to prevent state regulators from reviewing its records.

Florida Administrative Law Judge Suzanne F. Hood recently issued an order dismissing Coventry First’s attempt to withhold access to its records concerning life settlement transactions.

Coventry First, based in Fort Washington, Pa., is expected to appeal Hood’s ruling to District Court, according to Florida officials.

Florida regulators have been seeking access to Coventry First’s books for more than a year as part of their investigation into viatical settlement or life settlement contracts involving state residents. Coventry First is among the largest life settlement firms operating in an industry struggling to find funding to buy life policies in the wake of the recession. Continue Reading »

Life Settlement Fingerprint

This is interesting, and I wonder if other states will follow.

Individuals seeking licenses from the New York State Insurance Department to conduct business in a number of professional categories must submit electronic fingerprints with their license applications beginning Dec. 15.

The new requirement affects applicants with New York State addresses who are seeking new licenses in the following categories:

Insurance company officers and directors
Public and independent insurance adjusters
Professional bail bondsmen
Viatical settlement brokers

“Electronic fingerprinting will streamline the processing of background checks and enhance the Insurance Department’s ability to issue licenses more quickly. Electronic fingerprinting is now available at nearly 100 locations across the state so it will be convenient for applicants to have their fingerprints taken,” Insurance Superintendent James Wrynn said.

Electronic fingerprinting will be necessary for life settlement brokers and providers when they become subject to licensing requirements under the provisions of a new law approved last month. They will be required to have Insurance Department licenses starting May 18, 2010. Electronic fingerprinting will also be necessary for life settlement intermediaries who must register with the department starting on that same date.

More updates will be posted on: New York Life Settlement