Life Settlement Conference, Nov. 6th

14th Annual Life Insurance Settlement Association Conference on November 6th and 7th in Washington DC


At the 14th Annual Life Insurance Settlement Association Conference on November 6th and 7th in Washington DC, many things were covered but the most important was the pledge that the industry has made to consumers promising better protective legislation more proliferation of information. The Industry wants to combat fraudulent actions by a very small section of the Life Settlement industry as well as the over abundance of media coverage and negatively publicity that these bad apples cast on the majority of the Industry that provides an excellent, safe, and profitable service to its clients.

One of the examples that was given was on STOLI fraud, or stranger-orientated life insurance, which is used when at the creation of the policy, the person has no insurable interest in the insured. Even though public perception is that this is a serious danger, a crackdown by state legislators and industry advocates essentially removed the perpetrators and the practice is "dead", according to Life Insurance Settlement Association President David Hartman. These are just of the few of misconceptions that the Life Insurance Settlement industry is trying to remedy to increase business and increase the enjoyment and profitability of retirement for the millions of seniors in America.

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