life settlement

ORLANDO, FL--(Marketwire - Jun 9, 2011) - The Life Insurance Settlement Association ("LISA") is proud to announce the election of a new slate of Officers to the Board of Directors. The new Officers, who were elected during a recent Board meeting, are:

President - Nate Evans, Maple Life Financial, Inc.
Vice President - John McCarroll, Q Capital Strategies, LLC
Secretary - Mike Fasano, President, Fasano Associates
Treasurer - Zohar Elhanani, Legacy Benefits, LLC

Each Officer will serve a term of one-year. The other Board members are:

New investor lawsuits are emerging amid the wreckage of an investment boom in life-insurance policies that spectacularly collapsed.

The suits involve the secondary market in life policies, which boomed from 2004 to 2008 as thousands of old people sought to make fast cash by taking out multimillion-dollar policies on their own lives to sell to investors. Tens of billions of dollars worth of insurance changed hands. Under the deals, the investors pay the premiums until the insured person dies, at which point they collect the death benefit.

Sven Kuhlbrodt, global sales director at PDL International, says the life settlement market is misunderstood by many and advisers should take a fresh look as the sector can offer investors significant advantages.

As an asset class, life settlements have not had an easy introduction to the UK marketplace and high-profile mistakes have been made with how they have been communicated and sold.

However, these issues have not been down to the product. The asset class itself remains a good one, offering unique benefits to investors.

Examples of important Life Settlement topics covered by CPE NASBA approved seminar presented by Integrity Life Solutions, LLC – “Life Settlements: Introduction and Best Practices”

Definition: Life Settlement: The purchase of a life insurance policy by an investor (in the secondary market for life insurance) where the policy’s insured is of advanced age (a senior, or otherwise has a relative low life expectancy) for an amount greater than the cash surrender value of that policy.

The trade body for the traded life settlement market, the European Life Settlements Association, has issued a code of practice for its members designed to increase protection for investors.

Elsa says: “Members must either comply with the code or face suspension and ultimately expulsion from the association.”

In February, FSA head of investment policy Peter Smith said he had “significant concerns” about levels of transparency in the industry in a speech at the Elsa trade mission in London.

Feature: Life Settlement Industry Poised for Growth

The European Life Settlement Association (ELSA) has formed a committee to work with European agencies to develop regulations that protect life settlement investors, as well as lobby for the industry's interests.

The new regulatory committee will be chaired by Brian Casey, a partner at the Atlanta office of law firm Locke Lord Bissell & Liddell, according to a statement from ELSA on Monday. It will engage with financial regulators in the U.K., Ireland, Luxembourg and the European Union.