A little life settlement history

I attended a great life settlement seminar today put on by LISA (Life Insurance Settlement Association). Among many other interesting and important facts I discovered that the industry was founded on a Supreme Court ruling from a case in 1911.

That ruling in 1911 established that life insurance was the property of the insured and must be attributed the same rights as most any other owned property. Notably, that you have the right to buy and sell it to interested 3rd parties.

The industry undoubtedly has some checkered past but life insurance settlements are now a major market force. The industry has strong regulation and a very active professional association that sets high standards. If you are thinking about making use of a life settlement, its a good idea to use a broker that is a member of LISA.