Senate Life Settlement Hearing
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.
