Each and every life settlement association and insurance association is a major player in the life settlement industry. Through mutual cooperation they help contribute to a vibrant and more transparent life settlement market intent on serving the needs of the policy holders without whom the industry could not exist. Our list of life settlement associations, insurance associations, and other associations is not intended to be exhaustive. Instead, it represents those whom we believe are currently best positioned to have the greatest positive impact on the life settlement industry going forward.
The Life Insurance Settlement Association (LISA) was formed in 1995 and is America's oldest, largest, and most widely recognized life insurance settlement association. Its mission is to promote the integrity, development, and reputation of the life settlement industry. It also promotes a competitive market for those it serves and establishes standards of best practices for its member life settlement companies.
LISA participates in regulatory and legislative matters in all 50 states, Puerto Rico, and Canada. LISA also fulfills its life settlement association duties by providing information to consumers, regulators, legislators, and other interested parties.
The Life Settlement Institute (LSI) is an important life settlement association formed in 2002 to provide capital markets access to the life settlement industry. Membership to this life settlement association is limited to life settlement providers and life expectancy underwriters.
Objectives of the ISI Life Settlement Association:
The Institutional Life Markets Association (ILMA) is a non-profit association developed in 2007 by Goldman Sachs, Credit Suisse, Bear Stearns, Mizuho International, UBS, and West-LB AG. Members are among the world's leading institutional investors and intermediaries in the longevity and mortality marketplace. ILMA was formed to develop mortality and longevity related businesses, including life settlements and premium financing. Several of their goals and objectives are similar to those of a life settlement association and an insurance association.
Objectives of ILMA:
The International Society of Life Settlement Professionals (ISLSP as a life settlement association begun by international life settlement professionals and investors. As a life settlement association, their initial objective was to develop standard life settlement evaluation procedures that result in accurate valuations and risk assessments of life settlement investments.
Objectives of ISLSP
The Insurance Marketplace Standards Association (IMSA) is a no-profit insurance association made up of over 100 insurers who have adopted and agree to abide by IMSA's principles and code of ethics.
The American Council of Life Insurers (ACLI) is a life insurance association made up of 370 member life insurance companies.
The ACLI's Role
As an insurance association, ACLI represents its member companies (with US operations) before federal and state legislators, regulators, and courts. They also provide information to consumers about life insurance and the life insurance industry.