VLSAA -Viatical and Life Settlement Association of America

A viatical settlement allows you to invest in another person’s life insurance policy. With a viatical settlement, you purchase the policy (or part of it) at a price that is less than the death benefit of the policy. When the seller dies, you collect the death benefit.

Your return depends upon the seller’s life expectancy and the actual date he or she dies. If the seller dies before the estimated life expectancy, you may receive a higher return. But if the seller lives longer than expected, your return will be lower. You can even lose part of your principal investment if the person lives long enough so that you have to pay additional premiums to maintain the policy.

Viatical settlements can be risky investments. For these reasons, you should exercise caution and thoroughly investigate before you consider investing in a viatical settlement.

Many state insurance commissioners license the companies that buy viatical settlement to sell to investors and may have information about a specific company or viatical settlements in general. To find out who your state insurance regulator is, please visit the website of the National Association of Insurance Commissioners. The Federal Trade Commission also has information for those who are considering selling their life insurance policies.

The source: sec.gov

Atlantan re-elected to head industry association

M. Bryan Freeman will lead the VLSAA

Atlanta, GA (June 13, 2005) – M. Bryan Freeman, president of Habersham Funding, LLC, an Atlanta-based life settlement provider, has been re-elected for an unprecedented fourth term as president of the board of the Viatical & Life Settlement Association of America (VLSAA), the industry’s premier trade group, at a June 6 meeting in Atlanta.

Freeman, a longtime life settlement industry leader, has been a licensed life insurance agent for 27 years, and has worked in the life settlement industry since 1989.

“Bryan’s re-election to a fourth term is a resounding vote of confidence for the strong leadership he has brought to the VLSAA,” says Doug Head, executive director of the VLSAA. “Previously, we’ve only had a repeat president serve two terms.”

“Our membership has more than doubled in size in the past year, and now stands at nearly 80 members,” Head says. “Bryan’s industry expertise and coalition-building abilities are in large part responsible for that growth. Under Bryan’s leadership we’ve been able to attract an entirely new caliber of member, including some of Wall Street’s largest investment banks.”

Habersham Funding provides the funds for life settlements, which enable seniors who no longer want or need their life insurance to receive an advance cash payment for their policy. While a settlement may be available for people of any age who are seriously ill, Freeman says the majority of Habersham’s business comes in the form of high-net-worth seniors who seek settlement solutions as a means of financial and estate planning.

Habersham, established in 2001, leads the industry in focusing on high-net-worth transactions with seniors who are not terminally ill – also called life settlements. The company has quickly grown to be one of the most technology-driven providers in the life settlement industry. And, long-standing relationships with a selection of leading financial entities provide Habersham the flexibility to offer an array of settlement options.

Freeman was an early advocate for responsible regulation of the industry. Habersham is a leader in licensing and regulatory issues, and complies fully with all life settlement regulation.

For more information about Habersham Funding, please visit the organization’s web site, www.habershamfunding.com, or call 404-233-8275.

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Editors:

Electronic images of M. Bryan Freeman and the Habersham logo are available.
To speak with M. Bryan Freeman, please contact his information officer, Drew Plant, at 404-634-7102 or AtlantaWriter@mindspring.com.
For further information about the VLSAA, please visit www.viatical.org, or contact Doug Head at 407-894-3797 or doughead@cfl.rr.com.
M. Bryan Freeman established Habersham Funding LLC in 2001. He and his staff have been actively involved in the development of responsible regulation and legislation of the life settlement industry since its inception. His activism helped federal employees and veterans gain the right to transact settlements and cleared the way for tax-free treatment for some settlements. Bryan has testified before a financial services committee of the U.S. Congress on industry-related issues, state legislative committees and the National Association of Insurance Commissioners on numerous occasions. His expertise in the life settlement industry is recognized nationally. In his more than 15 years in the life settlement industry, Bryan has been involved in the purchase and sale of life insurance policies with a total face value exceeding $500,000,000, making him an undisputed leader in the industry. He is a graduate of the Darlington School in Rome, GA, and attended the Georgia Institute of Technology (Georgia Tech).
The VLSAA is an Orlando, FL-based non-profit trade association founded in 1994 to serve as a national resource center, providing information about viatical and life settlements. The VLSAA, which currently has 78 member companies, is the industry’s largest and oldest trade and professional organization.

The source: habershamfunding.com

VLSAA is an acronym for the Viatical and Life Settlement Association of America, and was founded with the purpose of promoting the trade and development of the sale of terminally ill persons life.

The objective of the association is to inform consumers.
Well-informed consumers can then receive competitive market rates for their policies.

The physical and emotional demands of a terminal illness are traumatic enough – both for the person and for the near and dear ones. Financial strains only serve to compound the trauma. Viatical life insurance settlements or VLSAA, if handled carefully, can provide financial relief. The process of viatical settlement involves the selling of a life insurance policy by a terminally ill person whose life expectancy has been predicted for about two years or so, to unrelated investors – which can be banks, private companies, or brokers. This gamble on death may seem unpalatable to many but can provide help to people by easing their financial strains and providing the cash to get better health and medical care. The seller of the policy gets cash surrender value while surrendering the policy. The surrender value is less than the face value of the policy. But the seller needs to keep in mind that the value he gets for selling the policy should be more than what he would other wise get by surrendering his policy. While selling one’s life insurance policy, he or she should keep in mind that there may be accelerated benefits associated with the policy. These benefits are also sometimes called living benefits. These are benefits that a policyholder gets from the insurer before he dies. Any decisions involving the sale of life insurance policy will have a deep emotional impact on the seller and his family members. So before coming to any decision it makes sense to talk to a lawyer or a financial planner. The other alternative is to contact the state Insurance Commissioner or the insurance company’s claims department so as to explore the maximum alternatives. The insurance companies can sometimes offer accelerated benefits or even loans. Accelerated benefits are usually added to the policies for additional premiums, while there are companies who do not charge any additional premiums.
Viatical Settlement provides detailed information on Viatical Settlement, Senior Viatical Settlement, Viatical Settlement Companies, Viatical Life Settlement Association and more.

Source: exchangenet.com

Viatical settlement involves the selling of the life insurance policy of a terminally ill person, whose life expectancy has been predicted to two years or so, to any unrelated investor. The investor buys the policy at a reduced rate based on the actual face value of the policy and then collects the benefits after the demise of the original policyholder. The longer the life expectancy, the lower the returns. This gambling on death may sound disconcerting to many but if the transaction is carried out fairly, the settlements can provide financial relief to the person who is already undergoing the physical and emotional trauma of a terminal illness. To ensure that the transactions are fair and that the patients do not fall prey to the pressure tactics of unscrupulous elements, the Viatical and Life Settlement Association of America (VLSAA) came into being. The VLSAA is a non- profit trade association formed to promote the integrity, reputation, and development of the settlement industry. It has on its roles consumers, member companies, regulators and legislatures, and is considered the ultimate authority in the settlement industry, complying all rules and regulations such as the applicable laws, anti-trust laws, federal, state and local laws and all trade regulation and legal requirements. One of the main aims of the association is to provide complete information to the consumers thereby creating awareness amongst them. Well-informed consumers can then get competitive market rates for their policies. A consumer can go through the VLSAA website to hunt for relevant information. They also have their contact number listed and a person can call their office to get the queries answered. The VLSSA also provides referral services. The organization has a list of member companies known to maintain high ethical standards. This ensures that no vulnerable person gets cheated in the deal. The VLSSA also has the authority to identify whether the deal is a regulated transaction, as per the laws of the state. This is extremely important because companies or brokers dealing in viatical settlements need to be licensed and a consumer has the right to check the license before entering any transaction.

Source: viatical-settlement