Wasnt sure where to post this topic. Since it only concerns investments as far as Irish Consumers are concerned, I felt it was appropriate to post it here.
In a nutshell, these are Whole of Life Assurance policies that people sell to investors.
Normally its older or sick people who only have a couple of years to live. Obviously on Whole of Life policies, there will be a payout once the client continues paying the premiums.
The idea is that the investor offers a percentage of the life cover (say for example 25%) to the policyholder. Policyholder gets lump sum to use themselves while alive, while the investor gets a life policy that will eventually make a profit for them.
I had a meeting today with a rep who sells these investment products in England. He is considering selling it in ireland.
Im just doing some research on it, there are obvious questions, including regulation, regarding these policies, but its pretty popular in the U.S. (not always best endorsement of course, just an observation).
I am just wondering if anybody else has heard of these (particularly financial advisors).
http://www.quatloos.com/life_settlement-life_settlements.htm
http://en.wikipedia.org/wiki/Life_settlement
[broken link removed]
In a nutshell, these are Whole of Life Assurance policies that people sell to investors.
Normally its older or sick people who only have a couple of years to live. Obviously on Whole of Life policies, there will be a payout once the client continues paying the premiums.
The idea is that the investor offers a percentage of the life cover (say for example 25%) to the policyholder. Policyholder gets lump sum to use themselves while alive, while the investor gets a life policy that will eventually make a profit for them.
I had a meeting today with a rep who sells these investment products in England. He is considering selling it in ireland.
Im just doing some research on it, there are obvious questions, including regulation, regarding these policies, but its pretty popular in the U.S. (not always best endorsement of course, just an observation).
I am just wondering if anybody else has heard of these (particularly financial advisors).
http://www.quatloos.com/life_settlement-life_settlements.htm
http://en.wikipedia.org/wiki/Life_settlement
[broken link removed]