The Viatical Association of America, in 1995 when they began, was set up to inform the general public and also state and federal legislators about viatical settlements. In 2000 the Association changed its name to; Viatical and Life Settlement Association of America (VLSSA). Finally, the name changed again to: Life Insurance Settlement Association of America. This now includes all settlements and the ratio is actually about 95 percent life settlements and only 5 percent viaticals.
The Viatical Association of America, with a relatively small staff, does want to address the needs of the terminally Ill and helps to inform the public of what is going on in the industry. The association advocates the needs of VAA members before Congress and regulatory agencies and state legislatures.
The Viatical Association of America is non-profit and is really a “trade” association for members of the viatical industry (and life settlement), and member business and also consumers. The association helps you the consumer because it promotes responsible regulation and legislation of its industry. It has given much of the details in language that has resulted in actual laws that govern viaticals and settlements. All of this has given to better and more public information, in a much improved format. The market place is now a much better place to do business. To learn more please click on LIVEpdq.