The New York State Insurance Department has posted language it would like life settlement providers to use to inform policy owners about their legal rights when selling their policies.
The model language, which the department suggests should be used in brochures provided to consumers by settlement firms, is available through a new section on life settlements that the agency has posted [...]
Here are some interesting life settlement predictions for 2010 that I found on a news site. I don’t agree with all of them, but feel a few are pretty spot on. I will let you decide.
1. Life settlement buying activity will return at an incremental and measured pace as institutional funds find increased liquidity and [...]
Some updated tidbits regarding regulation in Illinois.
Senate Bill 2091, signed by Quinn in August, creates the Viatical Settlements Act of 2009, which actually doesn’t take effect until July 1.
One of the bill’s main provisions prohibits what are known as “stranger-originated life insurance transactions,” or STOLI transactions. Such transactions involve a third party encouraging a senior [...]
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