Viatical Settlement Investments
Sen. Usie Richards amended the bill Thursday to give the GERS board another investment option - viatical life and senior settlement policy contracts, investments in which the investor buys insurance policies from terminally ill or old people for a percentage of the total policy. The investor pays the premiums and receives the policy payout when the beneficiary dies. This same amendment was vetoed by Gov. Charles Turnbull when it was added to a bill appropriating funds for cultural celebrations in May.
