Life Settlements: Discover Your Client's Unknown Asset
|
|
- Bryce Hutchinson
- 8 years ago
- Views:
Transcription
1 Life Settlements: Discover Your Client's Unknown Asset MODERATOR Darwin Bayston, CFA President and CEO Life Insurance Settlement Association PANELISTS Michael Freedman President GWG Life Dan Young Vice President, Portfolio Management Vida Capital
2 Life Insurance Life insurance is a core part of U.S financial landscape Alleviates financial risks of premature death An Investment
3 Life Settlement A Life Settlement is the sale of life insurance policy to a third party: The seller receives cash payment The buyer pays all future premiums The buyer receives the death benefit
4 Options for an Unwanted Life Insurance Policy Accelerated death benefits Assignment of the policy as a gift Replacement Conversion of the policy from a term policy to a permanent policy Conversion of the policy to obtain a long-term care health insurance coverage Maintenance of the policy through loans using the policy or its cash surrender value as collateral Maintenance of the policy through a life settlement contract The sale of the policy pursuant to a life settlement contract!
5 Need for Awareness 55 of seniors have lapsed a life policy (ICR Life Insurance Study, 2013) 90 of seniors who lapsed a policy would have considered a life settlement had they know of the possibility (ISI Institute, 2010) 79 of clients feel advisors should inform them about a life settlement (ICR Life Insurance Study, 2012) 49 of advisors cite lack of knowledge as reason for not recommending life settlement to clients (ISI Institute, 2010)
6 Reality - Financial Crisis Unknown cost of health care in final years Seniors fear being broke more than fear death Which do you fear more? Age Running out of Money, 61 Death, 39 Source: Allianz Life Insurance
7 Lapse Rates Billion of policies are lapsed each year Because Consumers and Advisors Are Unaware Seniors 65+! $57 billion of Face Value by lapsing or surrendering (Universal and Variable Universal Life Policies)! $112 billion of Face Value by lapsing or surrendering (Universal, Variable Universal, Term and Whole Life Policies) Source: (LISA/Welcom Funds Study Feb 23, th Annual Institutional Investor Conference)!
8 Life Insurance Settlement Association History Established in 1994, the Life Insurance Settlement Association is the oldest and largest trade organization in the life settlement market. Goal Educate consumers and advisors about a life settlement as an alternative to lapse or surrender of a life insurance policy.
9 Life Settlements Securization A life se)lement is the sale or assignment of a life insurance policy on the life of a elderly person (typically health impaired) purchased in the secondary market and owned by a third- party for investment purposes. The purchaser (or investor) of the policy becomes the policy owner, assumes the responsibility for paying future premiums, and becomes the beneficiary of the policy enctled to the death benefits at maturity (death of the insured). Life se)lement securiczacon involves the creacon of pools of life se)lements that are owned by one or more investors
10 The Life Settlement Players Investors Providers Life Expectancy Underwriters Settlement Brokers Financial Advisors/producers Insured/policy owner secondary versus tertiary market
11 Why Does the Market Exist? Seller Benefits: Better economic alternative than lapsing or surrendering policy Average purchase price in settlement market greater than 4X of cash surrender value1 Avoidance of policy premiums Cost of Insurance (COI) increases in later years Liquidity needed elsewhere: healthcare, general retirement expenses, etc. Investor Benefits: Mid to high teen unlevered gross returns2 Appealing risk-adjusted profile; solid returns to stressed scenarios Low correlation to other asset classes Ability to re-underwrite assets and medical condition at time of purchase Investment risks identified and priced at the time of the investment Cash-on-cash multiples 2X+ Tax efficient structuring 1. Empirical Investigation of Life Settlements: The Secondary Market for Life Insurance Policies, Januário and Naik Market IRR information provided by AAP Partners 3. According to AAP Partners, market average IRR from the past 12 months is
12 Benefits to Seller Vida Policy Case Study 1! Policy Holder! Male, Age 81! Policy Face Value! $1,470,000! 2014 Premiums! $71,478! Cash Surrender Value (CSV)! $53,010! Settlement Price! $249,050! Gross Excess Benefit:! $196,040! o o Average price paid by purchasers in the life settlement market exceeds 4x cash surrender value 2! 40 of Seniors over 65 have allowed a policy to lapse; 90 of those would have considered life settlements had they known about the option 3! 1. Actual policy purchased and currently owned by the Fund with characteristics that meet the Fund s eligibility criteria. The illustration above is provided for exemplary purposes only. The benefit to insureds can vary widely, and there is no assurance that all life insurance settlements will have similar excess benefits to insureds. 2. Empirical Investigation of Life Settlements: The Secondary Market for Life Insurance Policies, Januário and Naik Insurance Studies Institute, 2010
13 Trend Toward Greater Certainty and Acceptance of Settlements The implementation of increased regulation by states coupled with a convergence of life expectancy methodologies of the major medical underwriters has dramatically reduced the perceived risks of the life settlement asset class. Forty-five (45) states have adopted specific life settlement regulation. Challenges to the transfer of insurance policies in courts have largely favored the settlement industry and provided clarity on the timeframe for contesting such policies. The volume of such cases has decreased dramatically over the past year as these issues have been clarified. Consumer groups and state governments have recognized the value of the life settlement industry. Insurance companies in several states are now required by law to inform consumers who are lapsing policies about the existence of the secondary market, and states have passed or are considering legislation to allow settlements to help fund long term care requirements for those applying for Medicaid. Life Expectancy underwriters have recently extended estimates and converged on a conservative methodology with a high degree of accuracy in actual-to-expected analyses.
14 Enhanced Regulatory Environment 42 of 50 states now regulate life settlement transactions 1 o 6 states require the disclosure of options to policy holders considering lapsing/surrendering! o 12 states are utilizing life settlement proceeds to assist in funding long-term care in association with Medicaid 2! 2000! 5 states regulated! 2014! 42 states regulated! 1. Life Insurance Settlement Association, Life Care Funding, Inc. as of March 2014
15 Market Conditions: Then and Now Pre-2009: Lack of oversight and regulation in many states Inaccurate and underestimated life expectancies; lack of data and experience with seller cohorthighly affluent, 75+ age Uncertain legal rights of policy owners Significant amount of STOLI and investmentdriven or manufactured policies Negative market perception; presence of bad actors and experience from early viatical plays Risk held by financial institutions Current: Market broadly regulated; over 95 of population covered by regulation and protections. 1 Life Settlement providers regulated by State Insurance Commissioner Consumer protection measures strengthened Much improved life expectancy models; better data, models, and understanding of disease cohorts STOLI and fraudulent paper increasingly rare; contestability periods and market participants better able to identify paper Legal rights much more clear; several key decisions favorable to the asset class Risk distributed from financial institutions to investors Improving acceptance by institutional community. Berkshire Hathaway, Apollo, Blackstone, Oaktree, New Zealand Superannuation Fund, and Dow Chemical all have presence in the space
16 Life Settlement Market Life Extension Risk Credit Risk Managed through choice in carriers Diversification Risk Medical Impairments, LE Length, Risk Classification. Risk of Fraud Managed through comprehensive Anti-Fraud Reviews Litigation Risk
17 Importance of Diversification Increased policy numbers increase confidence around investment outcomes ,000 Monte Carlo Simulations on randomly drawn Vida owned policies 1 Outcome Probability Portfolio Construct: 10 Policies 50 Policies 100 Policies VLF Portfolio (259 Physical 750 policies Policies) Unleveraged Gross Return iteration Monte Carlo analysis conducted on randomly selected policies owned by Vida Capital. The illustration above shows gross IRRs, all of which would be reduced by applicable Fund fees and expenses, and is based on a 1000 simulation Monte Carlo analysis of randomly selected Vida-owned policies that may be selected multiple times. The illustration is not intended to estimate the returns of a portfolio to an investor, but to show the change in probabilistic confidence intervals of returns as the number of assets in a portfolio increases. It does not account for future trading activities, and there can
18 VLF Performance MONTHLY PERFORMANCE - GROWTH OF $100 $200 S&P 500 $180 $160 $140 $120 $100 $80 COMPARATIVE STATISTICS 1 Returns as of 1/31/15 Net of fees and expenses Vida Longevity Fund Ja n ML AA- Corporate Index 2.69 ML High Yield Index Global Hedge Fund Index S&P 500 Index Traili ng 12 Mont hs Annuali zed Returns Annuali zed Volatilit y Sha rpe Rati o Correlat ion MONTHLY NET FUND PERFORMANCE JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DEC YTD Statistics calculated using monthly returns data. Risk free rate for Sharpe Ratio assumed to be Performance is net of fees and expenses and is representative of an investor who contributed at inception, /1/10, did not contribute additional capital, did not withdrawal capital, and pays standard fees. Information is current as of 1/31/15 and based on estimated, unaudited results subject to change. Past performance is not indicative of future results. Important disclosures regarding indexes, calculations of actual returns, past performance, projections and other financial matters and legal matters are located at the end of
19 Questions? PANELISTS Michael Freedman President GWG Life Dan Young Vice President, Portfolio Management Vida Capital
Life Settlements: Discover Your Client's Unknown Asset
Life Settlements: Discover Your Client's Unknown Asset MODERATOR Darwin Bayston, CFA President and CEO Life Insurance Settlement Association PANELISTS Michael Freedman President GWG Life Dan Young Vice
More informationLife Settlements. Life Settlements Presentation
Life Settlements Brian Forman Actuaries Club of the Southwest June 10, 2010 Life Settlements Presentation History Sale of Policies Mathematics of Life Settlements Pricing of Life Settlements Current Marketplace
More informationInvestment in Life Settlements: Certainty in Uncertain Times
Investment in Life Settlements: Certainty in Uncertain Times A Life Settlement is the sale of an in-force life insurance policy to a third party for an amount less than its death benefit, but greater than
More informationInvestment in Life Settlements: Certainty in Uncertain Times
Investment in Life Settlements: Certainty in Uncertain Times November 30, 2010 by J. Mark Goode Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent
More informationThe Basics of Life Settlements
The Basics of Life Settlements AN EDUCATIONAL GUIDE FOR CONSUMERS THE VOICE OF THE INDUSTRY THE BASICS OF LIFE SETTLEMENTS The Basics of Life Settlements 1 The Concept of Life Settlements 4 Free Market
More informationLife Settlements 101 Introduction to the Secondary Market in Life Insurance
Life Settlements 101 Introduction to the Secondary Market in Life Insurance Anita A Sathe, FSA, FCAS, MAAA Donald Solow, FSA, MAAA Michael Taht, FSA, FCIA, MAAA October 15, 2007 Presentation Outline History
More informationINTRODUCTION TO METHODOLOGIES USED TO PRICE LIFE INSURANCE POLICIES IN LIFE SETTLEMENT TRANSACTIONS
INTRODUCTION TO METHODOLOGIES USED TO PRICE LIFE INSURANCE POLICIES IN LIFE SETTLEMENT TRANSACTIONS Published by Insurance Studies Institute February 11, 2008 A non profit foundation dedicated to advancing
More informationLife Settlements Product Overview
Life Settlements Product Overview Leveraging Life Settlements in Writing New Business Contents What is a Life Settlement? Case study Options for unwanted policies Who buys these policies? How does it work?
More informationSuggested Standards for Product Designers, Managers and Distributors. June 2013. Edition 3.0
Suggested Standards for Product Designers, Managers and Distributors June 2013 Edition 3.0 FOREWORD Edition 1.0 of the European Life Settlement Association (ELSA) Code of Practice (the Code) was introduced
More informationFor Investors. Life Settlements Explained
Life Settlements Explained For Investors Life Settlements Explained Concept 5 Historical Overview 6 Facts & Figures 8 Policy Value 10 Additional Resources 11 3 5Top 5 Reasons Policy Owners Sell Their Life
More informationModerator Nicola Barrett
Investment Symposium March 2009 A5: Life Settlements Investing in Physical Assets, Synthetics & Swaps Brian Tijan David Weinsier Ellen Gardner Moderator Nicola Barrett Confidential Physical Life Settlements
More informationLife Settlement Financial, LLC. Knowledge Base. Frequently Asked Questions about Life Settlements TABLE OF CONTENTS
Frequently Asked Questions about Life Settlements TABLE OF CONTENTS Question No. 1. What is a life settlement? 2. How is a Viatical Settlement different from a Life Settlement? 3. Why did viatical settlements
More informationThe Life Settlement Market, An Actuarial Perspective on Consumer Economic Value A Response
Life Settlement Consulting & Management, LLC The Life Settlement Market, An Actuarial Perspective on Consumer Economic Value A Response By: Darwin M. Bayston, CFA A study entitled, The Life Settlement
More informationArticle from: Reinsurance News. February 2010 Issue 67
Article from: Reinsurance News February 2010 Issue 67 Life Settlements A Window Of Opportunity For The Life Insurance Industry? By Michael Shumrak Michael Shumrak, FSA, MAAA, FCA, is president of Shumrak
More informationSecurities Backed by Life Settlements: Considerations for Institutional Investors
Prudential Financial Securities Backed by Life Settlements: Considerations for Institutional Investors Introduction A life settlement is a financial transaction in which the owner of a life insurance policy
More informationShould You Invest in Life Settlement Funds?
Copyright 2012 by Glenn S. Daily. All rights reserved. Version: April 12, 2012 (original: March 7, 2012) Should You Invest in Life Settlement Funds? A life settlement is the purchase of a life insurance
More informationLife Settlements: The Opportunity Continues to Grow
Life Settlements: The Opportunity Continues to Grow Like many asset classes, Life Settlements faced challenging times in 2011. But looking forward, SL sees a growing opportunity for investors seeking stable
More informationLIFE SETTLEMENT INFO KIT
How You Can Use A Life Insurance Policy To Fund Assisted Living And Senior Care Costs. LIFE SETTLEMENT INFO KIT Peace of Mind for You & Your Loved Ones Getting older should mean more time spent with your
More informationETHICAL CONSIDERATIONS IN THE SECONDARY LIFE INSURANCE MARKETPLACE
ETHICAL CONSIDERATIONS IN THE SECONDARY LIFE INSURANCE MARKETPLACE Thomas L Virkler, JD CLU Partners Life Marketing Group THOMAS L. VIRKLER, JD CLU - Chief Marketing Officer, Partners Life Marketing Group
More informationNationwide YourLife Indexed UL. Give clients a balanced life FOR INSURANCE PROFESSIONAL USE ONLY NOT FOR DISTRIBUTION WITH THE PUBLIC
advisor GUIDE Nationwide YourLife Indexed UL Give clients a balanced life FOR INSURANCE PROFESSIONAL USE ONLY NOT FOR DISTRIBUTION WITH THE PUBLIC Preparing for the future can be stressful for your clients.
More informationRetirement Income Investment Strategy by Andrew J. Krosnowski
Retirement Income Investment Strategy by Andrew J. Krosnowski Step 1- Income Needs-When formulating a successful strategy to generate income during retirement we feel that it is important to start by identifying
More informationAn Approach for Estimating Market Returns for Life Settlements. 5th ELSA Symposium (June 16, 2014) London UK
An Approach for Estimating Market Returns for Life Settlements 5th ELSA Symposium (June 16, 2014) London UK ..the ques@on is: what are the returns which can be reasonably expected from investments in life
More informationViatical Settlements of Life Insurance in the United States
Viatical Settlements of Life Insurance in the United States Presentation at Universitaet Ulm May 2006 Dr. Krzysztof Ostaszewski, FSA, CFA, MAAA Actuarial Program Director Illinois State University Viatical
More informationThe Fiduciary Advisor s Guide to Life Insurance: Reconciling Planning Attitudes with Client s Best Interest
The Fiduciary Advisor s Guide to Life Insurance: Reconciling Planning Attitudes with Client s Best Interest Richard M. Weber, MBA, CLU, AEP (Distinguished) 1. Life Insurance Basics A. What is the right
More informationLife Settlements. Southeastern Actuaries Conference. David J. Weinsier. November 20, 2008. 2008 Towers Perrin
Life Settlements Southeastern Actuaries Conference David J. Weinsier November 20, 2008 2008 Towers Perrin Agenda Introduction to the secondary market Valuing policies Impact on the life insurance industry
More informationThe Real Story About Life Settlements
The Real Story About Life Settlements Inform yourself about an oftenmisunderstood and potentially powerful tool in your advisor s toolbox If you re like most advisors, the following words may pop into
More informationA Consumer s Guide to...
A Consumer s Guide to... Selling Your Life Insurance Policy What You Should Know About Viatical and Life Settlements Paul R. LePage Governor Eric Cioppa Superintendent Table of Contents Definitions Get
More informationTHE ENVIRONMENT FOR INVESTMENT IN LIFE SETTLEMENT IN EUROPE IS IMPROVING
THE ENVIRONMENT FOR INVESTMENT IN LIFE SETTLEMENT IN EUROPE IS IMPROVING Anna M. Bailey Chair 2011/12, ELSA Director, RiverRock Group, LLC Beat Hess Member, ELSA Founding Partner, AA Partners Ltd Simon
More informationAn Assessment of No Lapse Guarantee Products and Alternatives. Prepared and Researched by
An Assessment of No Lapse Guarantee Products and Alternatives Prepared and Researched by No Lapse Guarantee (NLG) products continue to be very popular with clients, primarily for their low cost and guaranteed
More informationUntil recent years, the disposition of life insurance
Reprinted with permission from the Society of Financial Service Professionals. Reproduction prohibited without publisher's written permission. Life Settlements by Harold G. Ingraham, Jr., FSA, MAAA, CLU
More informationSeniors Beware: What You Should Know About Life Settlements
Investor Education Series Investor Alert Key Topics: Senior Life Settlement Life Insurance Policy 1035 Exchange Viatical Settlements Death Benefits what s inside What Is a Life Settlement? How Do Life
More informationAT&T Global Network Client for Windows Product Support Matrix January 29, 2015
AT&T Global Network Client for Windows Product Support Matrix January 29, 2015 Product Support Matrix Following is the Product Support Matrix for the AT&T Global Network Client. See the AT&T Global Network
More informationStructured Products on Innovative Alternative Investments
/ / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / /
More informationLife Settlements What Sophisticated Clients Expect Their Advisors To Know
Life Settlements What Sophisticated Clients Expect Their Advisors To Know By Jason T. Mendelsohn, Paul W. Bowen, and Jon B. Mendelsohn, Ashar Group Life Settlement Specialists Market Summary The Life Settlement
More informationLife Settlements 2012: the Secondary Market for Life Insurance Policies
Life Settlements 2012: the Secondary Market for Life Insurance Policies Executive Summary A Life Settlement is the sale of a life insurance policy to third party investors for an amount greater than the
More informationVida Capital Longevity Investment Options
Vida Capital Longevity Investment Options Vida Capital Executive Summary Alternative Asset Manager Vertically integrated longevity asset manager $2B + of policy face value under management 1 $700M + capital
More informationLife Insurance Review
Life Insurance Review A thorough evaluation of your life insurance portfolio RELATIONSHIP MANAGEMENT EXPERIENCE PARTNERSHIPS CLIENTSOLUTIONS Purpose Our goal is to provide an objective life insurance policy
More informationWhy Consider Life Settlement Options?
Why Consider Life Settlement Options? SITUATION Many people purchase life insurance initially for the right reasons. Life insurance is customarily purchased for planning needs that may span a time horizon
More information2013 saw end of market s decline
SPECIAL REPORT, INFORMATION & ANALYSIS OF THE SECONDARY MARKET FOR LIFE INSURANCE 2013 saw end of market s decline Transactions grew to $2.57 billion by donna horowitz Transactions in the life settlement
More informationAQUARIUS LIFE Page 1 of 8 SOLUTIONS
AQUARIUS LIFE Page 1 of 8 LIFE SETTLEMENTS - UNDERSTANDING THE FACTS AND MYTHS OF THIS SECONDARY INSURANCE PRODUCT What is a life settlement? Simply put, a life settlement is the sale of an unwanted, no
More information225 South Eola Drive Orlando, Florida 32801
225 South Eola Drive Orlando, Florida 32801 TEL: 407.894.3797 FAX: 407.835.0007 WEB: www.lisa.org Hon. Kevin M. McCarty, Insurance Commissioner Florida Office of Insurance Regulation 200 East Gaines Street
More informationA New Look at Cash Value as an Asset
A New Look at Cash Value as an Asset Brought to you by: Pinney Insurance Center, Inc. 2266 Lava Ridge Court Roseville, CA 95661 www.pinneyinsurance.com Cash Value Life Insurance Advantages of cash value
More informationModerator Nicola Barrett
Investment Symposium March 2009 A6: Securitization of Exotic Assets Jason Sutherland Boris Ziser Moderator Nicola Barrett Society of Actuaries 2009 Investment Symposium March 30-31, 2009 Litigation Finance:
More informationInvesting in Bonds challenges and opportunities in 2015
For Financial Brokers and Advisors Only Investing in Bonds challenges and opportunities in 2015 March 2015 Andy Ivory-Corr, QFA, Grad Dip, CFP Head of Investments New Ireland Assurance What exactly is
More informationStructured Cash Flows offer buyers competitive fixed rates with predictable income that can be customized to their unique needs.
Brochure Summary: The secondary structured cash flow market has been in existence for decades, and is a multibillion dollar per year industry. The secondary structured cash flow market allows an individual
More informationLife Insurance Policy Valuations
Life Insurance Policy Valuations New Challenges Bring New Opportunities Presented by: Martin Financial Group 315 Commercial Drive, Suite A4 Savannah, GA 31406 DISCLAIMER All rights reserved. No part of
More informationISI s Initial Insurance Concepts Forum
ISI sinitialinsuranceconceptsforum TheInsuranceStudiesInstitute( ISI )hosteditsfirstinsuranceconceptsforuminapril, 2009, and participants included twenty seven leaders from academia, government, investmentsectors,andthelifesettlementindustry.thisdynamicgroupspenttwodays
More informationGETTING SETTLED IN: AN OVERVIEW OF THE LIFE/VIATICAL SETTLEMENT LAWS RECENTLY ENACTED IN COLORADO, GEORGIA AND NEW JERSEY
GETTING SETTLED IN: AN OVERVIEW OF THE LIFE/VIATICAL SETTLEMENT LAWS RECENTLY ENACTED IN COLORADO, GEORGIA AND NEW JERSEY By Fredric Marro, Esq. Darcy Lebau, Esq. 856.216.0110 In 2005, Colorado, Georgia
More informationContents. 18 Additional Help. 2 Look Before You Leap. 5 An Introduction to Viatical and Life Settlements. 6 The Parties Involved
Contents 2 Look Before You Leap 5 An Introduction to Viatical and Life Settlements 6 The Parties Involved 8 How the Process Works 10 Accelerated Death Benefits 12 Information for Potential Investors in
More informationDisclosure Statement for Life Settlement Contracts
Life Settlement Financial, LLC P.O. Box 3437 San Rafael, CA 94912-3437 Tel: (415) 526-5970 Fax: (415) 526-5971 inquiries@lifesettlementfinancial.com Disclosure Statement for Life Settlement Contracts Read
More informationQuestions and Answers Regarding the Process of Life Settlements
Questions and Answers Regarding the Process of Life Settlements Life Settlement Intermediaries www.t-horizons.com 800-430-8849 Table of Contents Questions and Answers Regarding the Process of Life Settlements
More informationNatalia Orlova, Chief Economist December 2004 Norlova@alfabank.ru +7 095 795 36 77
New Environment for Refinancing in Russia Natalia Orlova, Chief Economist December 2004 Norlova@alfabank.ru +7 095 795 36 77 Excessive sterilization depressed liquidity Banking crisis stemmed from a decline
More informationSLVO Silver Shares Covered Call ETN
Filed pursuant to Rule 433 Registration Statement No. 333-180300-03 April 15, 2014 SLVO Silver Shares Covered Call ETN Credit Suisse AG, Investor Solutions April 2014 Executive Summary Credit Suisse Silver
More informationYour model to successful individual retirement investment plans
Your model to successful individual retirement investment plans Tim Noonan Managing Director, Capital Markets Insights Russell Investments WWW.RISYMPOSIUM.COM Presented by: Important Information Please
More informationTable C-6 Insurance company market share insurance reserves in the
Life Insurance The Capital Market, Insurance and Saving Division Contents Introduction... 4 1. Structure of the life insurance sector... 6 2. Operational characteristics... 8 Profit from life insurance
More informationLife Settlements Investments
Title: Life Settlements Investments Authors: Craig Ansley Director, Capital Markets Research Julian Darby Consultant Date: February 2010 Synopsis: Life settlements is becoming an increasingly popular asset
More informationThe Best-kept Secret of the Life Settlement Industry
The Best-kept Secret of the Life Settlement Industry By: Curtis Cole New Asset Advisors, LLC, 15 April 2008 The life settlement industry is getting a lot of well-deserved attention these days, but the
More informationL I F E I N S U R A N C E P O R T F O L I O M A N A G E M E N T
L I F E I N S U R A N C E P O R T F O L I O M A N A G E M E N T Optimize Funding of Existing Refinance Existing HOW CAN YOUR PARTNERSHIP WITH SCHECHTER WEALTH BENEFIT YOUR CLIENTS? Schechter Wealth works
More informationA CONSUMER GUIDE TO LIFE INSURANCE INSURANCE ADMINISTRATION
A CONSUMER GUIDE TO LIFE INSURANCE INSURANCE ADMINISTRATION TABLE OF CONTENTS Who We Are...1 How We Help Consumers....1 Resources for Consumers...2 Life Insurance Basics...2 The Need for Life Insurance...2
More informationGE Capital. Liquidity and Funding Overview. Global issuer of long and short term debt. 2012 third quarter
Liquidity and Funding Overview Global issuer of long and short term debt This document contains forward-looking statements - that is, statements related to future, not past, events. In this context, forward-looking
More informationCOMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*
COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun
More informationCOMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*
COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun
More informationA Consumer Guide to. Life insurance INSURANCE ADMINISTRATION
A Consumer Guide to Life insurance INSURANCE ADMINISTRATION Table of Contents Who We Are...1 How We Help Consumers....1 Resources for Consumers...2 Life Insurance Basics...2 The Need for Life Insurance...2
More informationLIFE SETTLEMENT PROVIDER BEST PRACTICES
LIFE SETTLEMENT PROVIDER BEST PRACTICES The standardization of life settlement origination practices is critical to promote the growth of life settlements as an asset class. Standardized origination practices
More informationCalifornia Department of Insurance 15-Hour Life Settlement Broker Outline
Overview The following outline is a listing of the topics that must be addressed as part of a 15-hour life settlement broker course designed to meet the requirements in Section 10113.2 of the California
More informationWEEKLY ASSET ALLOCATION REPORT
WEEKLY ASSET ALLOCATION REPORT January 11, 2016 Stanley Yeung Quantitative Research Analyst Stanley.yeung@TrimTabs.com +1 (415) 324-5873 CONTENTS TACTICAL ASSET ALLOCATION 3 TRIMTABS ASSET ALLOCATION PORTFOLIOS
More informationPRELIMINARY LIFE INSURANCE APPRAISAL REQUEST
PRELIMINARY LIFE INSURANCE APPRAISAL REQUEST INSURED INFORMATION (If more than one insured, please duplicate this page and complete for each insured.) Name SSN Current Address Date of Birth Day Telephone
More informationLife Insurance Policy Valuations
Life Insurance Policy Valuations New Challenges Bring New Opportunities Presented by: Martin Financial Group 315 Commercial Drive, Suite A4 Savannah, GA 31406 DISCLAIMER All rights reserved. No part of
More informationShould I Sell My Life Insurance Policy? A Consumers Guide to Life Settlements
Should I Sell My Life Insurance Policy? A Consumers Guide to Life Settlements About This Guide Deciding to keep a life insurance policy, surrender it, let it lapse, or sell it as a life settlement requires
More informationLife Settlements Outside the Box. LifeOptions is the nation s leading provider of specialty life insurance programs for seniors.
Life Settlements Outside the Box LifeOptions is the nation s leading provider of specialty life insurance programs for seniors. Our experienced insurance and financial professionals broker life settlement
More informationLife Care Funding Group s mission is to educate seniors about how they can access money through a Life Settlement and to make this important
Life Care Funding Group s mission is to educate seniors about how they can access money through a Life Settlement and to make this important financial tool available to as many people as possible. Housing
More informationAnalysis One Code Desc. Transaction Amount. Fiscal Period
Analysis One Code Desc Transaction Amount Fiscal Period 57.63 Oct-12 12.13 Oct-12-38.90 Oct-12-773.00 Oct-12-800.00 Oct-12-187.00 Oct-12-82.00 Oct-12-82.00 Oct-12-110.00 Oct-12-1115.25 Oct-12-71.00 Oct-12-41.00
More informationAnnual Treasury And Investment Portfolio Update for 2015
Item No.: 7d_Supp Meeting Date: March 8, 2016 Annual Treasury And Investment Portfolio Update for 2015 Commission Briefing Presented by Diane Campbell March 8, 2016 Treasury Management Update Background
More informationThe Coming Volatility
The Coming Volatility Lowell Bolken, CFA Vice President and Portfolio Manager Real estate Securities June 18, 2015 www.advantuscapital.com S&P 500 Percent Daily Change in Price September 2008 to April
More informationFinancialfacts. Great-West Life participating life insurance. Accountability Strength Performance
2014 Financialfacts Great-West Life participating life insurance Accountability Strength Performance This guide provides key financial facts about the management, strength and performance of the Great-West
More informationGAO LIFE INSURANCE SETTLEMENTS. Regulatory Inconsistencies May Pose a Number of Challenges. Report to the Special Committee on Aging, U.S.
GAO United States Government Accountability Office Report to the Special Committee on Aging, U.S. Senate July 2010 LIFE INSURANCE SETTLEMENTS Regulatory Inconsistencies May Pose a Number of Challenges
More informationLife Insurance Review Using Legacy Advantage SUL Insurance Policy
Using Legacy Advantage SUL Insurance Policy Supplemental Illustration Prepared by: MetLife Agent 200 Park Ave. New York, NY 10166 Insurance Products: Not A Deposit Not FDIC-Insured Not Insured By Any Federal
More informationLife Settlements Task Force
Life Settlements Task Force Staff Report to the United States Securities and Exchange Commission July 22, 2010 This is a report by the Staff of the U.S. Securities and Exchange Commission. The Commission
More informationMortgage Strategies in the Current Economic Environment. Katie Hopkins SVP, Investment Strategies khopkins@viningsparks.com
Mortgage Strategies in the Current Economic Environment Katie Hopkins SVP, Investment Strategies khopkins@viningsparks.com Mortgage Market Trends page 2 Limited Mortgage Opportunities Fed products, 15yr
More informationThe Life Settlements Market
Consulting The Life Settlements Market An Actuarial Perspective on Consumer Economic Value By Deloitte Consulting LLP and The University of Connecticut Audit. Tax. Consulting. Financial Advisory. Table
More informationUsing Life Insurance for Pension Maximization
Using Life Insurance for Pension Maximization Help your clients capitalize on their pension plans Agent Guide For agent use only. Not to be used for consumer solicitation purposes. Help Your Clients Obtain
More informationCashing in on Unneeded Life Insurance Policies
WHITE PAPER Cashing in on Unneeded Life Insurance Policies How Seniors Are Benefiting From Life Settlements Produced by the LISA Marketing Committee - www.lisassociation.org - LISA 2006 Cashing in on Unneeded
More informationThe Empire Life Insurance Company
The Empire Life Insurance Company Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2015 Unaudited Issue Date: August 7, 2015 DRAFT NOTICE OF NO AUDITOR REVIEW OF CONDENSED
More informationRisks and Rewards in High Yield Bonds
Risks and Rewards in High Yield Bonds Peter R. Duffy, CFA, Partner, Senior Portfolio Manager Navy Yard Corporate Center, Three Crescent Drive, Suite 400, Philadelphia, PA 19112 www.penncapital.com 1 What
More informationPremium Financing, Life Settlements and Insurable Interest Law
Premium Financing, Life Settlements and Insurable Interest Law John P. Gerni ACLI Regional Vice President Presentation to the OCI Life Advisory Council February 5, 2008 What s s in an acronym? COLI: Corporate
More informationDesigning The Ideal Investment Policy Presented To The Actuaries Club of the Southwest & the Southeastern Actuarial Conference
Designing The Ideal Investment Policy Presented To The Actuaries Club of the Southwest & the Southeastern Actuarial Conference Presented by: Greg Curran, CFA & Michael Kelch, CFA AAM - Insurance Investment
More informationOverview. October 2013. Investment Portfolios & Products. Approved for public distribution. Investment Advisory Services
Equity Risk Management Strategy Overview Approved for public distribution October 2013 Services Portfolios & Products Equity Risk Management Strategy* Tactical allocation strategy that seeks to adjust
More informationThe secondary market for life insurance is changing the face. of financial services. Clearly, the secondary market s central
The market is open. Opportunity. The secondary market for life insurance is changing the face of financial services. Clearly, the secondary market s central premise that the value of life insurance is
More informationMassMutual Whole Life Insurance
A Technical Overview for Clients and their Advisors MassMutual Whole Life Insurance The product design and pricing process Contents 1 Foreword 2 A Brief History of Whole Life Insurance 3 Whole Life Basics
More informationINSURANCE. Life Insurance. as an. Asset Class
INSURANCE Life Insurance as an Asset Class 16 FORUM JUNE / JULY 2013 Permanent life insurance has always been an exceptional estate planning tool, but as Wayne Miller and Sally Murdock report, it has additional
More informationOld versus New Insurance
Old versus New Insurance A Discussion of Chronic/LTC Riders Available Now Mike Pinkans, CFA, CFP Executive Vice President & CMO Life Insurance How many thought about the life insurance you own when you
More informationMassMutual CareChoice SM One
An Overview Guide MassMutual CareChoice SM One Prepare for the possibilities MassMutual CareChoice One (CareChoice One) is a single premium whole life insurance policy with a qualified long term care insurance
More informationGuggenheim Investments. European High-Yield and Bank Loan Market Overview
Guggenheim Investments European High-Yield and Bank Loan Market Overview August 2015 European High-Yield & Bank Loan Market Overview Please see disclosures and legal notice at end of document. 2 August
More informationEEA Life Settlements Fund
EEA Life Settlements Fund An Absolute Return, Historically Uncorrelated Investment Solution This document is being directed only at persons who are professional clients or eligible counterparties for the
More informationAMG Financial Services. a division of. Presents. Life Settlements
AMG Financial Services a division of Presents Life Settlements Life Settlements Our Product is Simple. We provide a solid financial tool to people who want a safe, stable, easy to understand financial
More informationPersonal Financial Plan. John & Mary Sample
For Prepared by Donald F. Dempsey Jr. PO Box 1591 Williston, VT 05495 802-764-5815 This presentation provides a general overview of some aspects of your personal financial position. It is designed to provide
More informationComprehensive Life Insurance Audit
Over the past several years we have seen a dramatic change in the economics that affect the life insurance industry. These economic conditions and other factors have mandated the review of life insurance
More informationU.S. Credit Card. Trends, Liquidation and Portfolio Pricing
U.S. Credit Card Sector Update: Market Trends, Liquidation and Portfolio Pricing Agenda U.S. Credit Card Sector AY Year in Review Key Economic Trends Liquidation and Pricing Changes Market Trends Unfolding
More informationSAMPLE Financial Needs Summary. Frank and Kathy Boomer
SAMPLE Financial Needs Summary Frank and Kathy Boomer Mission Viejo, California Prepared by: David M. Jones, MBA, CFP Select Portfolio Management, Inc. December 4, 2009 Table of Contents Disclaimer...
More informationLife Insurance Review
Supplemental Illustration Prepared by: MetLife Agent Financial Services Representative 200 Park Ave. New York, NY 10166 Insurance Products: Not A Deposit Not FDIC-Insured Not Insured By Any Federal Government
More information