California Life Settlement Companies updated list.

They include Abacus Settlements, Axis Thought Capital, Credit Suisse Life Settlements, Econotree Capital, Institutional Life Services, Legacy Benefits, Lifetrust, Progressive Capital Solutions, Proverian Capital Settlements, Q Capital Strategies, according to the California Insurance Department website.

Other companies operating in California while their licenses are reviewed include Berkshire Settlements of Atlanta, Ga.; Caldwell Funding Corp. of Stamford, Conn.; Fairmarket Life Settlements of St. Louis Parke, Minn.; Financial Life Services of Stamford, Conn.; GWG Life Settlements of Minneapolis, Minn.; Life Partners of Waco, Texas; Life Settlement Corp., which also operates as Peachtree Life Settlements, of Boynton Beach, Fla.; Life Settlement Solutions of San Diego, Calif.; Lotus Life of Greenwich, Conn.; and Maple Life Financial of Bethesda, Md.

Also, Montage Financial Group of Mission Viejo, Calif.; Portsmouth Settlement Co. of Fayetteville, Ga.; Secondary Life Capital of Washington, D.C.; Senior Settlements of Moorestown, N.J.; Settlement Group of Saint Marys, Ga.; SLG Life Settlements of Atlanta; Spiritus Life of Roseville, Ca.; Trinity Life Settlements of Downers Grove, Ill; and ViaSource Funding Group of Bernards Township, N.J., according to California records.

On Jan. 1, California Senate Bill 98 repealed the existing viatical settlement law, revising the law to define those and other specific financial arrangements as “life settlements.” Effective July 1, the law also prohibited a person from entering into or effectuating a life settlement contract with an owner unless that person holds a Life Settlement Provider license.

A total of 39 companies, including 10 that were previously declared viatical providers, may now operate in the state.

According to the California Insurance Department website, the previously approved viaticals now able to operate in California as licensed life settlement providers are CMG Surety of Naples, Fla.; Coventry First of Fort Washington, Pa.; Habersham Funding of Atlanta, Ga.; Legacy Benefits Corp. of New York, Life Equity of Hudson, Ohio; Life Settlement Financial of San Rafael, Calif.; Life Settlements International of New York; Magna Life Settlements of Coral Gables, Fla.; Neuma of Skokie, Ill.; and Wm. Page & Associates of Atlanta, Ga.

Source: Insurance & Financial Advisor

This question gets asked all the time… “What offer can I expect from the sale of my policy?”

That is a tough question to answer due to the face that each policy has to be individually priced and underwritten. However, we are seeing the a current offer range from 5% – 30% of the face value. With a majority of the current offers falling in the 10% – 22% range. We have seen viatical settlements receive recent offers up to 55%. (Remember a viatical is considered a 2 year or less life expectancy and usually a terminal illness).

We are currently seeing a buyers market, so offers have been lower and some policies that may have received offers a few years back or not getting offers at all.

To find out what your policy is worth, call 1-888-823-7764, there is not a cost or obligation.

The Lifeline Program, a Georgia-based life settlement funding company, is courting institutional investors with a life insurance investment product that it claims delivers big returns.

Life settlement involves buying life insurance from a policy holder, usually an elderly person, then selling it to an investor who will cash out when the original policy holder dies.

It hasn’t been posted at the current time what are the parameters and expected returns for investors. I also wasn’t able to find the minimum capital requirement. If they are seeking strictly institutional investors, I am sure it will be a large amount.

We will post more updates here once we receive them.