January 2011, Volume 5, Issue 1

Exploring the life settlement option for clients

Feature: Life Settlement Firm Fires Back

By Allison Bell - A publicly traded life settlement firm says an article in a business newspaper has given a misleading description of its operations.

The Wall Street Journal has printed an article that quotes sources who say Life Partners Holdings Inc., Waco, Texas (Nasdaq GS:LPHI), may have underestimated the life expectancies of the insureds who used Life Partners to sell life insurance policies to investors.

"As trade publications have reported, this phenomenon has been experienced throughout the life settlement industry and is not exclusive to [Life Partners]," Life Partners Chairman Brian Pardo says in a public letter addressed to investors.

Life Partners "calculates sensitivity of return utilizing [life expectancy (LE) ] to set a reasonable premium escrow amount, and does not rely exclusively upon LE as the primary factor for profitability," the firm says. Life Partners only handles policies that are economically feasible even if the insured…

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Settlement and related news from National Underwriter

LTC and Life Settlements: Back from the Brink
Gerova Buys $1.2 Billion in Life Settlements
Absolute Life Releases Earnings

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Quiz question

A top executive of which life insurance company recently traveled to South Korea to try to convince business and government leaders there not to allow life settlements?
a) MetLife Inc.
b) The Phoenix Companies Inc.
c) New York Life Insurance Company
d) Prudential Financial Inc.

 find the answer

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