Life & Viatical Settlement News
Abacus Settlements Approved in Louisiana Abacus Life is pleased to announce today that it was granted a life settlement provider license by the Louisiana Offices of the Insurance Commissioner. Abacus is now licensed to purchase life insurance policies in 43 states. Abacus Life looks forward to expanding its secondary market services to the close to 5 million residents in the state of Lousiana,” said Scott Kirby, Managing Partner. “We encourage Louisiana policy sellers to visit our Life Settlement Learning Center and to
Bridging the Retirement Gap As baby boomers head toward retirement, the growing retirement gap is in urgent need of help Consistent advances in medical science and senior health in industrialized nations have resulted in considerably longer retirements. On the surface, this is great news. Modern seniors are living longer and healthier lives. Retirement savings haven’t adjusted however, and there is a crisis looming as more Baby Boomers age into retirement with woefully underprepared portfolios. The
Abacus Named Top Workplace Orlando, Florida (AUGUST 13, 2019): Abacus Life was named as a “Top Workplace” in a survey of best places for employees throughout Orlando and the Central Florida Region. In an annual survey conducted by the Orlando Sentinel and Energage, a national employee experience firm that works with companies like Microsoft, eBay and Capital One and other major employers, Abacus placed third in Central Florida, ranking higher than other major Orlando companies.- LISA Asserts that Carriers are Disrupting the Secondary MarketLife insurance and life insurance buyer industries have a history of butting heads. Most recently, LISA (Life Insurance Settlement Association) has asserted that Lincoln Financial Group and Sun Life Assurance Co. are partaking in illegal conduct to deter seniors from selling their policies to the tertiary market.Competing OffersLISA maintains that the two insurance carriers are pushing life insurance purchasers to reveal purchase prices, citing regulations IRC 6050Y
$6M Arent Fox Malpractice Suit Closes with Settlement A malpractice case against Julius Rousseau has come to a close.The $6 Million legal case was discontinued after a stipulation citing prejudice against the well-known settlement attorney was presented on June 14, 2019. HistoryRousseau, an attorney for the Arent Fox LLP law firm, was first presented with a malpractice claim in a premium-finance case in March. Additional claims of malpractice included allegations dating back to 2016, citing a- Report: Abacus Posts Largest Annual Growth of Major Life Settlement Buyers “Thank you to all of our partners who helped us become the fastest-growing buyer and led the industry in dollars paid to clients” – Jay Jackson, CEO on Abacus’ annual growth trends ORLANDO, Fla., May 31, 2019 (Newswire.com) – In Consecutive Years, Abacus Purchased the Second Highest Number of Policies, and Further Narrowed Gap between Abacus and the Top Policy Purchaser According to a new
Texas House Of Representatives Unanimously Passes Life Premium Change Disclosure Bill With a final vote of 147 to 0, the Texas House of Representatives officially passed a bill that will set disclosure requirements for permanent life insurance issuers. New conditions demand transparency on cost-of-insurance increases requiring insurers to provide policy owners with 90 days’ notice if rates are changing, or if there is a mortality change. The passing of this bill comes on the heels
3 Trends Taking the Settlement Industry by Storm The life settlement industry is making changes to serve more seniors, faster, and more accurately in 2019 The primary market is growing at unprecedented rates and Conning suggests that policies resulting in life settlements represent less than 1% of all policies issued by carriers, giving life settlements new opportunities for growth. 2018 saw a sizable jump in settlements transacted and closed with $4 million in face value,