The life settlements industry relies heavily on life expectancy reports. Life expectancy reports are a key tool used by funders to determine whether or not a policy is one to purchase. In most cases funders require two life expectancy reports from leading companies for review.
Since life expectancy reports are so important in life settlements, it is vital they be accurate. Funders need to be confident in the information provided in a life expectancy report. Problems arise when two LE’s come back drastically different. In fact, when one LE company changed its criteria to lengthen general life expectancy it sent the industry into a tailspin scaring off investors.
Since life expectancies are so vital to life settlements and because of the need for consistency, top LE companies have come together. These companies are meeting with the help of LISA (Life Insurance Settlement Association) to discuss best practices, accuracy in mortality tables, and their role in the settlement industry. One more step in the stabilization of the life settlement industry!
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