Opulen Capital Life Settlement Blog

Faking death to collect life insurance money: A life on the run

opulen — Tue, 15 Nov 2011 16:22:51 +0000

By Emmet Pierce, Insure.com

Investigators and a coalition charged with fighting fraud say the life insurance industry is waging a quiet but ongoing battle to prevent dishonest policyholders from making insurance claims by faking their own deaths.

“Life insurance companies are on high alert for fake death,” says James Quiggle, spokesperson for the Coalition Against Insurance Fraud (CAIF), an alliance of consumer groups, insurance companies and government agencies. “It happens often enough that these crimes are a permanent part of their investigative portfolios. They are well-mobilized. They have the resources to try to track down the scammers.”

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The effort to screen out potential fraud begins soon after a person seeks alife insurance quote. Anyone who acknowledges a criminal background may be examined closely, depending on the size of the policy, says Gene Robertson, supervisor of investigative services for Pennsylvania-based Erie Insurance Group. However, in most cases no deep background checks occur until something happens that makes a life insurance claim seem suspicious.

Huge potential for insurance loss

There is no data to pin down exactly how much fake-death scams cost insurance companies in the U.S. each year, says Quiggle. Steven Rambam–an investigator for three decades and director of Pallorium Inc., an investigative agency with offices in New York and Texas–says individual life insurance companies in the U.S. face could huge losses if they drop their guard against fraudsters.

“The amount of loss to the company, if they are not vigilant about pursuing fraudsters, can be massive,” says Rambam. “There is one carrier–approximately eight years ago their profit from the life insurance side was $840 million and we had investigated claims for them … that saved them $36 million. Their profit would have gone down almost 4 percent.”

Life insurers often decline to discuss life insurance fraud and how they deal with it, and several declined to comment for this story.

“The processes we employ to investigate death claims is proprietary information,” says Janet Gillespie, a spokesperson for Prudential. “Prudential continually works to stay on top of the newest developments in fraud trends and consistently adapts claims handling and investigations to meet the challenges they bring.”

A lack of hard facts

Because there is no hard data on how many people fake their own deaths to cash in on life insurance, opinions vary about how widespread the crime is. Jack Dewald–an insurance broker based in Memphis, Tenn. and the former chair of the Life and Health Insurance Foundation for Education (LIFE) governing board–says most “bad elements” are weeded out in the policy application process.

Dewald, whose career extends back 30 years, says his insurance brokerage has never encountered a faked death.

Robertson says the problem is real, although it’s much harder to fake a death in the U.S. than in less developed countries, where death certificates can be purchased easily by bribing medical examiners and other local officials.

When deaths are faked in other countries, the perpetrators often “fade into the woodwork,” he says. Because prosecutions can be difficult – even on U.S. soil — the main focus of many insurers is avoiding payouts for false claims.

“It clearly is a felony, but prosecutions in this arena are very unusual,” Robertson says. Even in America, “prosecuting is a hit-or-miss situation, depending on the state in which it occurs. Your typical prosecutor recognizes that they have to convince a jury beyond a reasonable doubt what has occurred.”

Sometimes the scams involve numerous persons and travel between nations. The result is a confusing courtroom narrative about how the alleged criminals faked a death.

“It is very difficult to weave the plot of what seems like a paperback novel into a successful prosecution,” Robertson says.

While fraudulent death claims are common, many insurers are good at protecting themselves and therefore experience fewer such claims, he adds. At Erie, “we typically do not pay until we are convinced that the claim is legitimate–or as convinced as we will ever be.”

Going for the big insurance money

One of the main goals in faked deaths “is to scam a life policy so you can have that $1 million windfall,” says Quiggle. “That kind of money can set you up nicely for life in a Third World country” where expenses are low, he says. In parts of the Middle East, Mexico, Central America and South America, “crooks go to creative and elaborate extremes to create the appearance of a death. They may hire villagers as mourners and stage a complete funeral,” Quiggle says.

Rambam says he has noticed some recent insurance fraud trends in general.

“There is less and less fraud coming out of Europe,” he says. “There is more out of Africa and Asia. You have traditional fraud hotspots which are Russia and China and India. I have seen fraud in Vietnam. I have seen fraud in Central and South America. There is a regular call for investigation in Mexico.”

While some crooks frustrate investigators, most people who commit life insurance fraud get caught, insists investigator David Cohen of Investigative Resources of Texas. “I have been doing insurance fraud for 20 years. They think they are smart: ‘I love this place I went to in Mexico and I will just fake my death, take the insurance money, and go there.’ It happens more frequently than you can imagine. Out of five, I will catch three.”

Most large insurance companies use their own investigative teams for domestic fraud cases, says Rambam. “They don’t need to sign it out unless it is a real hardcore case. Most of the assignments we get are outside the U.S.”

A typical criminal is a native of a foreign nation who has lived in America, bought a life insurance policy here, and returned home for a visit. During that visit, a death is staged. Cohen says he focuses on “any kind of activity” that demonstrates that the “deceased” still is alive.

“I will dig into your phone [calls],” he says. “I will dig into social media. I will also look at past passport activity. If someone is an international traveler and they have vacationed one place frequently over a number of years, I will look there.”

Once he finds a fraudster, Cohen will travel to his or her location and attempt to capture the scammer on video. If the insurance money already has been paid out “you will be put on the wanted list,” the investigator says. “You could be extradited. I work with the FBI, I work with the Secret Service, I work with U.S. marshals” and Interpol, the international police organization.

If Cohen can get you back into the U.S., “generally you will get prosecuted for a fake death claim.” For those who are found guilty, a 10-year sentence is not uncommon, he adds.

Someone is looking for you

Dewald says it takes more than the lure of money to hatch a scheme that requires you to abandon your home and assume a new identity. People attracted to such crimes “are running from something or somebody.”

For most crooks, giving up their identity ultimately isn’t worth the payoff, says Chicago-based psychologist Elizabeth Lombardo, author of “A Happy You.”

“They are not thinking that ‘for the rest of my life someone will be looking for me,’” she says. “That is a huge source of stress. It can cause us to go into depression.”

In August 2011, a Santa Ana, Calif., man who allegedly had been hiding in plain sight since 2004 was arrested on suspicion of faking his death in Mexico so he and his wife could receive life insurance and other death benefits. Authorities say they were tipped off that Lucio Rodriguez, 52, was still alive. They arrested him in Fontana, Calif., where he was working under an assumed name, according to police. His wife was arrested a short time later. The couple allegedly had bribed officials in Mexico to issue a false death certificate for Rodriguez.

Domestic life insurance scams

Not all fake-death scams involve corrupt foreign officials. Earlier this year, a Southern California woman was sentenced to two years in federal prison for taking part in a plan to stage fake funerals and collect life insurance. Faye Shilling, 61, pleaded guilty in mid-2010 to two counts of wire fraud and was ordered to pay about $330,000 in restitution. Prosecutors say Shilling and her accomplices defrauded insurance companies and funeral-related businesses out of nearly $1 million with a scheme to buy life insurance policies for fictitious people.

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10 Top Cars Old Folks Buy By

opulen — Fri, 11 Nov 2011 17:43:04 +0000

http://www.thestreet.com/story/11230364/1/10-top-cars-old-folks-buy.html?cm_ven=outbrain&psv=outbraintopstories&tools

10 Top Cars Old Folks Buy

DETROIT (TheStreet) — Old people like cars too.

We sometimes denigrate old people, particularly when it comes to advertising, where the common assumption is that this particular demographic group doesn’t buy anything.

Isn’t this why the Lawrence Welk Show had to move to PBS? Because the fear of advertising to seniors, combined with Welk’s 1992 death, scared off the Madison Avenue crowd?

What do they know about music anyway? Probably not a single one of them recalls that Dodge use to sponsor the maestro, who hailed from Strasburg, N.D. A great car, in its day. It’s no longer what it was — but who is?

In any case, a recent study by TrueCar indicates that seniors in America, defined as age 65 and over, “chose vehicles from brands they grew up with.” The study reviewed purchases by more than 200,000 car buyers in 2009 and 2010.

“Seniors are looking for a luxurious and comfortable vehicle from a brand they are familiar with and trust, and many seniors grew up with these iconic American luxury brands in their parents’ garage,” said TrueCar analyst Jesse Toprak, in a prepared statement.

TrueCar.com compiled a list of the top brands purchased by seniors in 2009 and 2010, by percentage of buyers. Topping the list of brands were Buick, Lincoln and Cadillac.

In fact, eight of the top ten cars favored by seniors were made by Ford(F ) andGM(GM ). Toyota(TM ) and Hyundai had one each.

America’s top-selling vehicles — the Honda(HMC ) Accord, the Camry, and Ford and Chevrolet pickup trucks — were nowhere to be found on this list.

Read on for the top ten cars favored by seniors.

Page 2 of 11

No. 10: Toyota Avalon

According to TrueCar.com, 53.7% of Avalon buyers are seniors.

No other Japanese manufacturer has a single vehicle among geezer’s top ten vehicle preferences, although Lexus is ranked as the No. 9 favorite geezer brand. Seniors account for 27.6% of Lexus sales.

Page 3 of 11

No. 9: Lincoln MKZ

TrueCar’s survey shows that 53.8% of all MKZ buyers were seniors.

Seniors love Lincolns, their second-favorite brand. Seniors buy 47.7% of the Lincolns that are sold.

Lincoln sales surged in July, gaining 40%. Ford analyst George Pipas said one reason for the pickup in sales is that dealers, who formerly sold both Lincoln and Mercury, are now able to focus on the brand.

Page 4 of 11

No. 8: Buick LaCrosse

The survey shows that 58.9% of LaCrosse buyers were seniors.

Although it has been gaining buyers in all segments, Buick leads all brands in the percentage of senior buyers, with 57.5%. For the first seven months, Buick sales rose 27.2%, leading all GM brands, while the average age of the brand’s buyers is falling.

Page 5 of 11

No. 7: Chevrolet Impala

The survey shows that 51.3% of Impala buyers are 65 or older.

Chevrolet is the sixth favorite brand for seniors, who account for 31.2% of its sales.

Page 6 of 11

No. 6: Hyundai Azera

Seniors accounted for 64.7% of Azera buyers, TrueCar said.

Hyundai was seniors’ No. 10 favorite brand, with 25% of sales coming from the group.

Since we must assume that not many of our seniors drove Hyundai as kids, it most likely is price that attracts them. TrueCar said seniors paid an average of $24,353 for their Azeras, second lowest cost on the list. The only other cars with an average price below $30,000 were the Chevrolet Impala at $21,830 and the Buick LaCrosse at $25,732.

Page 7 of 11

No. 5: Cadillac STS

Seniors accounted for 71% of STS buyers.

The STS had the second-highest price tag on the list, with seniors paying an average price of $39,148.

We think this says that some seniors have big bucks, so advertisers should not turn away.

Page 8 of 11

No. 4: Cadillac CTS Wagon

Seniors accounted for 74.2% of all CTS buyers.

Here we should mention that 44% of all Cadillac buyers are seniors, making it the third top brand for seniors.

By the way, in terms of brands preferred by old folks, Buick is first at 57.5%, Lincoln is second at 47.7%, Cadillac is third at 44%, Chrysler is fourth at 36.1%, GMC is fifth at 32.4% and Chevrolet is sixth at 31.2%.

The next four brands are imports. Porsche, for sporty seniors, is seventh at 29.5%. Lexus is eighth at 27.6%. Jaguar is ninth at 26.5% and Hyundai is tenth at 25%.

Page 9 of 11

No. 3: Cadillac DTS

It really seems that Cadillac has something going here, as far as having that old black magic — as Frankie used to croon — back when cars were cars and made of steel rather than aluminum.

Of DTS Buyers, 84.8% were seniors.

Page 10 of 11

No. 2: Buick Lucerne

The survey shows that 86.8% of Lucerne buyers were older than 65.

One reason the average age of Buick buyers is dropping is that Lucerne production ended in June. Sales of the Regal are also bringing the average down, and sales of the Verano, which is coming in the fall, are expected to accelerate that trend.

Page 11 of 11

No 1: Lincoln Town Car

The survey shows that 89.6% of Town Car buyers were seniors.

Lincoln has found a couple of niches. We also know that the Lincoln Town Car is the most favored car in the New York limo market, known to insiders as “the black car industry.”

One other point, Lincoln is not only the No. 1 car on the list of senior favorites, it is also the highest-priced car here. The average price was $41,595, making it the only car with an average price over $40,000.

– Written by Ted Reed in Charlotte, N.C.

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Life Settlements Beat the Buzzer on Convertible Term

opulen — Fri, 11 Nov 2011 16:45:42 +0000

http://www.producersesource.com/financial/life-settlements-beat-the-buzzer-on-convertible-term/

Life Settlements Beat the Buzzer on Convertible Term

About Stephen Terrel
Stephen E. Terrell is Senior Vice President of Sales, Marketing, and Public Relations of The Lifeline Program, a life settlement provider based in Atlanta, Ga. Terrell oversees all aspects of marketing including the P3 Program (Production – Performance – Profit), which enables agencies and agents to build a new market with life settlements, broadening revenue and increasing commissions. For more information, call 770-724-7300 or visitwww.thelifeline.com or follow him on Twitter @LifelineProgram.

For your customers in their 70s with maturing convertible term policies, the clock is ticking down and a life settlement solution might just be the best, last-second shot option available.

Life insurance settlements offer agents the opportunity to help their clients evaluate the dwindling asset value of convertible term life insurance policies nearing expiration. In the right circumstances, agents earn commissions when policyholders cash out by first converting to whole or universal life, then selling the permanent policies to life settlement providers.

In this scenario, the term policyholder avoids the higher premium costs associated with most convertible policies and receives cash proportionate with the value of the new asset. Agents earn commissions on the converted policy and again on the life settlement.

In 20 years the life settlements segment has grown to more than $6 billion annually. Insurance agents are the key to explaining how and why to cash in a life insurance policy. They hold a wealth of information about policyholders and their personal and family situations. Settlement providers receive applications, process and underwrite them and prepare settlement offers with sources of capital prepared to purchase the policies for cash. Term policies are particularly attractive if you draw up a game plan.

Keep an Eye on the Shot Clock

The first step is to review your client portfolio for customers whose convertible term policies are nearing maturity. Particularly people who purchased major dollar-value policies a decade or more ago face greatly increased premiums to renew or convert. In today’s economy, coverage may appear less attractive than the cash. The temptation is strong to simply let the policy lapse at maturity without perceiving any asset value at all. Your calm coaching at this moment can make the difference between a win and a loss.

Put Yourself in a Position to Win

As you are aware, most, though not all, term life insurance policies are convertible. If you are typical, you have advised term buyers to pay the slightly higher premium so their policies can be converted in the future and to make sure they remain insurable. The customers who heeded your advice comprise your potential market and now is the moment your counsel can pay off for them as well as for you.

It’s very likely your older customers are not aware or have forgotten about the conversion option. Among your convertible term policies in force, how many are due to expire in the next few years? Especially if a term policyholder is elderly, sick or not otherwise eligible for a new, permanent policy, then converting that term policy might be the only option for them to keep coverage. Thus, a term-to-perm conversion could be a windfall for your policyholders.

Seniors with at least $500,000 in convertible term life insurance coverage are the most obvious candidates. However, in evaluating your own portfolio, don’t neglect younger policyholders with shorter life expectancy whose term policies are also expiring. A life settlement appraisal requires you to prepare a simple application and obtain permission to access the policyholders’ medical records.

Draw up the Appropriate Play

Once again, the basic premise for “term-to-perm” conversion is that the policy be convertible term, within the authorized conversion period determined by the carrier, with a minimum face value of $500,000; and the policyholder over 70 years of age.

If these conditions are met, life settlement presents clear advantages:

Underwriting from the existing policy typically transfers to the new, permanent whole life or universal life policy, expediting and reducing the complications of the process.
Cost of conversion is built into life settlement. All charges including commissions and the initial permanent policy premium may be considered in the agreement with the life settlement partner, so policyholders face no out of pocket costs.
“Found money.” Rather than holding an expiring term life insurance policy with high annual costs and little or no asset value, policyholders will have agreed (in advance) to receive a cash settlement proportionate to the value of the newly acquired permanent life policy. Likewise brokers perceive standard commissions on the permanent policy and a predetermined commission on the life settlement conversion.

Let’s go to the Videotape

Let me cite an actual example:

A 72-year old male with a $1 million, 20-year, convertible term policy was determining his options. The term was about to end, and the policy would be worthless if he didn’t renew or convert. The annual premiums to renew increased dramatically – from $5,900 to $59,000 per year.

The agent proposed term-to-perm and created a cost illustration that listed the expenses associated with policy conversion. The life settlement provider computed a potential settlement offer, contingent on the conversion. The insured paid the conversion premium, then sold the newly converted policy to the settlement company. The transaction netted the policyholder more than $42,000.

The agent turned a non-performing asset into a net gain for the client and earned a fee on the conversion and on the life settlement. In addition, his client happily referred him to other prospects.

Teamwork is Key in Life Settlements

Once agents have made the decision to offer life settlements to their policyholders, they sign a letter of intent with a settlement partner, undergo training such as Certified Life Settlement Consultant certification, if desired, and begin to contact top priority clients and submit applications.

The cash life settlement offer to policyholders is based upon many factors and priced on a case-by-case basis. Two key factors are policy face value and the insured’s estimated life expectancy. After you submit an application and your life settlement partner evaluates it, an offer is extended to the policyholder/seller. The offer obviously should provide your client a substantial cash settlement.

The purchasing company agrees to pay the life insurance premiums for the remainder of the policyholder’s life, and, in return, the purchaser is paid the death benefit when the policyholder passes away.

Post-game Commentary

Looking forward, the value of convertible term for younger market segments becomes quite apparent. Agents with aging baby boomer clients, for example, should be selling convertible term policies as low-cost means to prepare for a future life settlement.

From the agency standpoint, life settlements become an important integrated revenue source. In addition to the commissions earned, the process opens opportunities for new life insurance policy sales or alternatives such as estate planning with the same clients.

The best professional sports coaches know that success today – more than ever – rests in end-game strategy. As a professional financial counselor, you should add life settlement alternatives as buzzer beaters in your strategy for elderly convertible term customers.

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Dematco Announces First Tailor-Made Electronically Tradable Bond Product from Dematerialized Senior Life Insurance Policies

opulen — Mon, 17 Oct 2011 17:07:40 +0000

http://www.marketwatch.com/story/dematco-announces-first-tailor-made-electronically-tradable-bond-product-from-dematerialized-senior-life-insurance-policies-2011-10-17

Dematco Announces First Tailor-Made Electronically Tradable Bond Product from Dematerialized Senior Life Insurance Policies

press release

Oct. 17, 2011, 11:22 a.m. EDT

Hedge Fund, Quantus Investment Corp. agrees to convert $200 million face value Senior Life Settlement Policies

ENCINO, Calif., Oct 17, 2011 (BUSINESS WIRE) — Dematco, Inc. DMAT +21.43%(“Dematco”), engaged in the business of dematerializing and converting insurance, and other financial instruments from paper form to electronic form, announces its first transaction arising from the recently announced revenue sharing agreement on October 3, 2011 with Quantus Investment Corp. (“Quantus”), hedge fund manager based in Toronto, Canada.

Dematco and Quantus have agreed to a first contract for the sale and purchase of $200 million face value Senior Life Settlement Policies, converted into electronically tradable instruments structured by Dematco. Tailor-made for Quantus, Dematco believes this is the first such electronically tradable bond product from dematerialized Senior Life Insurance Policies.

Through its wholly owned subsidiary Dematco Group Corp., Dematco expects to generate significant fees under the fee sharing agreement of October 3, 2011, ensuring that Dematco ends the calendar year ending in profit.

Robert Stevens, Dematco Chairman and CEO, commenting on this contract said, “In a market traditionally confined to paper products, we are confident that our new products, generated from dematerialized Senior Life Settlement Policies, will prove to be a landmark in the development of the Senior Life Settlement market.

Tailor-made to the requirements of Quantus and their clients, we can now customize Senior Life Settlements for other funds. We are delighted to be associated with Quantus as together we take a major step forward into this new market for bonds and other instruments based on Insurance products.”

Jamie Spreng, Chairman of Quantus, stated: “We are pleased to move our arrangements with Dematco forward into an order flow from which we expect significant numbers of differing products to emanate, fulfilling the wider financial market criteria that has been missing from this asset class up to now.”

About Dematco, Inc.

Dematco, Inc. is engaged in the business of dematerializing or converting financial instruments from paper form to electronic form. The Company specializes in hitherto untraded or untradeable paper instruments allowing them to be traded electronically on exchanges or exchange platforms on a peer to peer basis.

Forward-Looking Statement

This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the failure to meet schedule, or performance requirements of the Company’s contracts, the Company’s liquidity position, the Company’s ability to obtain new contracts, and the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties the forward-looking events referred to in this release might not occur.

SOURCE: Dematco, Inc.

For Dematco, Inc. Emerson Gerard Associates Jerry Jennings, 561-881-7318 jerry@emersongerard.com

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A&O’s life portfolio sold after principals’ fraud leads to bankruptcy

opulen — Mon, 17 Oct 2011 17:07:16 +0000

http://ifawebnews.com/2011/10/16/ao’s-life-portfolio-sold-after-principals-fraud-leads-to-bankruptcy/

A&O’s life portfolio sold after principals’ fraud leads to bankruptcy

New York, N.Y.-based life settlement broker sold A&O’s remaining life insurance portfolio for $4.84 million after the company filed for bankruptcy.

Melville Capital (MC) was retained as the life settlement broker and advisor to Jeff Marwil, partner of law firm Proskauer Rose, the trustee for A&O in connection with bankruptcy proceedings.

MC said it produced $3.42 million in this latest sale and $4.84 million in total.

A&O’s principal business was acting as a buyer of existing life insurance policies. But each of the A&O Life Fund entities filed for Chapter 11 bankruptcy protection in Chicago Sept. 2, 2009. Documents filed in the bankruptcy court list more than 700 individual investors as creditors, according to MC.

A&O was “an extremely complicated case” for several reasons, including the alleged fraud by the company’s principals, according to MC Managing Director Doug Himmel.

Brent Oncale, 36, former principal of A&O entities, pleaded guilty Nov. 10, 2010, to a two-count criminal information alleging conspiracy to commit mail fraud and conspiracy to commit money laundering involving losses to investors of more than $50 million.

Oncale admitted to making material misrepresentations and omissions to investors about A&O. He also admitted that he and his co-conspirators failed to inform A&O investors that the vast majority of investor money was used for purposes unrelated to purchasing and maintaining portfolios of life settlements.

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Fasano Offers Preview of Upcoming Life Settlement Conference: Investor Focused

opulen — Thu, 13 Oct 2011 16:54:24 +0000

Fasano Offers Preview of Upcoming Life Settlement Conference: Investor Focused [Health & Beauty Close - Up]

Copyright:	(c) 2011 ProQuest Information and Learning Company; All Rights Reserved.
Source:	Proquest LLC
Wordcount:	334

Fasano Associates has released the agenda for its October 24thLife Settlement and Longevity Conference, which Fasano’s President, Michael Fasano, described as “Investor Focused.”

In a release, the Company noted event details:

The Conference will include a “point – counterpoint” discussion between Phil Hall, Managing Director of Highland Capital, and Dan Knipe, Life Portfolio Manager at Leadenhall Capital Partners, as to Whether Pension Funds should be Long or Short on Life Settlements. Said Michael Fasano, “The life settlement industry has been trying to attract pension dollars for quite some time now, and there are some compelling arguments in support of that position. At the same time, there are strong arguments as to why a pension fund would reduce its risk exposure by shorting life settlements. So I think this will be a compelling discussion.”

The Conference also includes an analysis by David Miles, CEO of Miles Capitalon the Role of Life Settlements in a Fixed Income Portfolio and a presentation byMatt Popoli, Senior Managing Director of Reservoir Capital, on an Investor’s View of the Life Settlement and Longevity Markets.

Fasano added, “The quality of our presentations this year is the best I have ever seen. Dr. Jochen Russ will be presenting groundbreaking original research on Predictions for Mortality Improvements, and Deutsche Bank’s Pretty Sagoo will talk about the U.K. based Life & Longevity Markets Associations (LLMA) and LLAMA’s Role in Longevity Markets.”

The Fasano Conference will also include a session on Portfolio Valuations by Allan Morris, Director of Risk Management at KPMG, and will open with a presentation by Michael Lovendusky, Vice President of the ACLI (American Council of Life Insurers), on “The Relationship Between Life Insurance and Life Settlements: Can We Get Along?”

The Fasano Conference is a one-day event, with cocktails and dinner following the presentations. With a registration fee of only $395 and eight original presentations, Fasano characterized its Conference as “the best value in the business.”

More Information:

www.fasanoassociates.com

((Comments on this story may be sent to health@closeupmedia.com))

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Betty White is ‘Still Hot’

opulen — Thu, 13 Oct 2011 16:52:36 +0000

http://www.nbclosangeles.com/the-scene/events/Betty-White-is-Still-hot-131784028.html

Betty White is ‘Still Hot’

Betty White, the 89-year-old pop culture queen, has again captured the attention of fans with an out-of-the-box project that is an ad for a life settlement company and benefits one of her favorite charities, the LA Zoo.

White, along with bodybuilders, plenty of cheesecake and White music video co-star, British singer Luciana, were on display at the Abbey night club Tuesday for the premiere of the video. It shows White, surrounded by those bodybuilders as she proclaims she is “still hot.”

“It’s a switch for me, I will tell you, but it’s fun and they gave me these nice young men to work with that are built like little brick houses,” said White.

The video is part of the marketing campaign originally designed to reach seniors through social media, but executives say when they heard the song the project snowballed.

The remix now not only brings awareness to “Lifeline,” a life settlement company based in Atlanta, Ga, but also supports one of White’s favorite charities, the Los Angeles Zoo.

“The project brings new exposure to Luciana, supports one of Betty’s favorite charities and creates awareness for life settlements,” said Stephen Terrell, co-founder of Lifeline, in a release from the company.

Follow NBCLA for the latest LA news, events and entertainment: Twitter:@NBCLA // Facebook: NBCLA

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Insurance Watchdog Asks SEC To Ban Securitized Life Settlement Products

opulen — Thu, 13 Oct 2011 16:47:07 +0000

http://advisors4advisors.com/investing/products/article/14260-insurance-watchdog-asks-sec-to-ban-securitized-life-settlement-products

Life settlements have emerged as one of the hottest “alternative” asset classes out there, but the aggressive way these products are created makes insurance carriers nervous.

The American Council of Life Insurers recently sent SEC Commissioner Mary Schapiro a letter asking her to prohibit the bundling of death benefits into marketable securities.

They don’t like the way the underlying coverage has been aggressively marketed to seniors looking for a way to pay for their life insurance.

In a life settlement, the insured party keeps the policy but “settles” the death benefit by assigning a third party as beneficiary. That party then pays the premiums and cashes the check when the original person dies.

It’s becoming a bit of a craze in markets where investors are struggling to find income sources that aren’t correlated to interest rates or corporate profits.

Unfortunately, as we learned in the mortgage boom, securitization puts massive pressure on the originating entities to keep generating new product.

That means aggressively targeting seniors and other strangers, and that’s what the ACLI wants the SEC to nip in the bud right now.

They want these currently nebulous products to be classed as securities in order to ensure that people who package and sell them to investors are properly regulated. But they also want to exempt individuals who simply want to sell their policy.

In theory, there’s a lot of money in these products for insurance agents, but because institutional investors have a lot more money and better underwriting skills than individuals, mass securitization would hurt the insurers’ margins.

More policies that actually pay out instead of simply being abandoned means more expenses for the carriers.

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Music Video Premiere: Betty White Raps for Luciana in “I’m Still Hot”

opulen — Wed, 12 Oct 2011 18:29:05 +0000

http://www.marketwatch.com/story/music-video-premiere-betty-white-raps-for-luciana-in-im-still-hot-2011-10-12

Music Video Premiere: Betty White Raps for Luciana in “I’m Still Hot”

press release

Oct. 12, 2011, 8:05 a.m. EDT

Cheesecake Meets Beefcake to Benefit the Los Angeles Zoo

LOS ANGELES, Oct 12, 2011 (BUSINESS WIRE) — Life settlement leader The Lifeline Program today released the music video for “I’m Still Hot” by Luciana featuring Betty White. Available for viewing on thelifeline.com and YouTube, the video features White rapping on Luciana’s No.1 Billboard Dance Club track, along with bodybuilders, cheesecake, breakdancing and a boa constrictor. A portion of the song’s iTunes net proceeds benefits the Greater Los Angeles Zoo Association.

In addition to the online release, Lifeline hosted a launch event last night which featured a live performance by Luciana at The Abbey in West Hollywood where fans watched the video live for the first time.

“We originally started with the idea of a video to reach seniors through social media, but when we heard the song, the project snowballed and we decided to do the remix and have the proceeds benefit one of Betty White’s favorite charities, The Los Angeles Zoo,” said Stephen Terrell, co-founder of The Lifeline Program. “The project brings new exposure to Luciana, supports one of Betty’s favorite charities and creates awareness for life settlements.”

Rebranding itself to a younger audience, The Lifeline Program hopes America’s most trusted celebrity’s bold dance moves and catchy rhymes, re-mixed by Grammy nominated David Aude, will reach out to social media savvy boomer consumers. The 75 million Americans born between 1946 and 1964 constitute a sizable demographic, soon approaching retirement age with infamously lower retirement savings than previous generations. The market-leader in the life settlement industry offers settlements to holders of unnecessary life insurance policies; many times providing much needed financial security to seniors nationwide.

The Lifeline Program is a life settlement company based in Atlanta, Ga., and is a division of Wm. Page and Associates, Inc. Founded in 1989, The Lifeline program offers life settlement portfolio aggregation services and alternative investment opportunities to financial institutions, fund managers and other investment entities. The company partners with insurance agencies and broker dealers to establish life settlement business lines and assists seniors with retirement planning options. For more information on life settlements, contact Stephen Terrell of The Lifeline Program at 770-724-7300 or visit www.thelifeline.com . For the latest Betty White music video news, visit facebook.com/LifelineProgram.

Editor’s Note: A High Definition version of the video is available for download.

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SOURCE: The Lifeline Program

The Lifeline Program Business press contact: David PR Group John P. David, 305-255-0035 john@davidpr.com or Entertainment press contact: Susan Blond, Inc. Perry Krasnove, 212-333-7728 Ext. 117 perryk@susanblondinc.com or LGBTQ & Press RSVP for Los Angeles Launch: Lobeline Communcations Phil Lobel, 310-271-1551 Ext. 13 phil@lobeline.com

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