If you are considering selling your life insurance policy, it is important you understand the Tax Implications. However, this information if only for basic understanding, we recommend you speak with your tax advisor for a more detailed understanding.
As a life settlement of an insurance policy is in effect the sale of the policy to a […]
Coventry First strongly supports the life settlement legislation sponsored by Senator John A. DeFrancisco and Senator James L. Seward that will provide much-needed protection for New York seniors who choose to sell their life insurance policies in the secondary market. Senate Bill 5476, based on the model settlement act of the National Association of […]
Ideal candidates for a life insurance settlement are high net worth clients whose insurability has changed since the time the policy was issued. In addition, a decision to either lapse or surrender the policy is under consideration. A life insurance policy becomes unwanted or unneeded due to any number of situations.
A client may need new […]
Viatical Settlements did not begin as an actual business until the mid-1980’s, when the AIDS epidemic was beginning to explode. The number of ill patients was increasing due to this new outbreak, and it was acknowledged that many of these patients lacked the money to pay for their medical bills, yet had life insurance policies […]
SEC fines, attorney costs leave little for victims
The Securities and Exchange Commission has reached settlement agreements to make the top executives of Mutual Benefits Corporation pay millions of dollars in fines and “disgorgement” of their ill-begotten gains in a death-benefits investment scheme.
The settlements still leave 59,000 investors in the corporation’s so-called “viatical” investments holding empty […]
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