A life settlement bond offering is an asset based bond that is backed by an insurance policy. Many insurance policies are purchased by individuals or by companies. A life settlement bond offering is a large portfolio of insurance polices that resemble large stock portfolios. The risk is determined by the life expectancy of the insured.
There are two types of life settlements, a senior settlement and a viatical settlement. A viatical settlement is where an insured has two years or less to live. Viatical settlements became very popular during the 90′s from the AIDS epidemic. Policyholders sold their insurance policies to pay for mounting medical bills and for everyday living. A senior settlement is anyone over 75 years of age that can have up to 19 years to live. There are only five true viatical states. These states require different licenses and requirements to classify them as a senior settlement agent or a viatical settlement agent.
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