Life Settlement Seller Rights
Meir Eliav Focuses on Sellers Rights at Life Settlement Symposium
NEW YORK–(BUSINESS WIRE)–Focusing on the value of life settlements, Legacy Benefits president Meir Eliav joined life insurance expert Dr. Barry Kaye and a panel of distinguished experts at a recent symposium on consumer financial opportunities in the secondary life market at Florida Atlantic University in Boca Raton. The symposium was sponsored by Dr. Kaye, a strong proponent of life settlements, and the University.
As an industry expert selected to participate in this first-ever educational forum, Eliav drew on his background as a pioneer in the field. He spoke about seller’s rights in today’s evolving marketplace, noting that consumers in a wide range of life situations can benefit from the sale of unwanted or unneeded life insurance policies.
Dr. Kaye commented that life settlements are the most significant development in the
life insurance industry in years, citing numerous examples of how this growing
investment instrument can help achieve personal financial objectives. As a panelist representing the life settlement industry, Mr. Eliav noted, ”Sellers are entitled to complete transparency, and more safeguards are in place than ever before to ensure they are treated fairly.” He urged consumers to work with companies that are members of the Life Insurance Settlement Association (LISA), the major trade association in the field that upholds a strong standard of business practices.
Pointing out that market characteristics have changed rapidly during the past few
years, Eliav said that today life settlements are financed primarily by large reputable institutions that aggregate significant volumes of policies covering many lives. “This puts sellers in a better position than in years past when the market was driven by private investors and involved smaller policy pools,” he said.
In 2004, Legacy Benefits helped broaden the appeal of life settlements investing by
originating the first ever portfolio of life settlement assets for a rated securitization transaction. The deal was rated by Moody’s Investor Services and underwritten by Merrill Lynch.
The symposium provided an overview of life settlements, expert advice on how to maximize benefits realized through the sale of policies and examples of individuals
who successfully used life settlements to provide for charities and heirs in addition to personal financial betterment. It also included focus group sessions for charities.
In closing, Dr. Kaye promised to provide the public with more educational forums on
insurance related issues.
About Legacy Benefits
A recognized leader in the life settlement industry, Legacy Benefits pioneered this
burgeoning specialty finance field more than 15 years ago and today maintains its
reputation as an industry innovator. Since 1991, Legacy Benefits has specialized in the origination, servicing and management of life insurance assets for a broad range of institutional clients. It utilizes an ever-evolving array of sophisticated analytical tools and upholds the highest ethical standards when evaluating and acquiring unwanted or nneeded insurance policies for its institutional clientele. Legacy Benefits was founded by company president Meir Eliav, a 30-year financial services veteran, who was a founding member and past-president of the Life Insurance Settlement Association (LISA), the largest U.S. trade association in the industry. In 2004, the innovative firm became the first ever to originate a portfolio of life settlement assets for a securitization transaction rated A1/Baa3 rating by Moody’s Investor Services. In 2006, Legacy Benefits received and reviewed life insurance policies covering 8,000 lives with a total face value of approximately U.S. $12 billion. Visit the company’s website at www.legacybenefits.com.
