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FOR IMMEDIATE RELEASE
OLDWICK - JUNE 10, 2016 02:23 PM (EDT)
In this A.M.BestTV episode from the Life Insurance Settlement Association’s Institutional Investor Conference in New York, Colin Devine, principal, C. Devine Associates, discusses how the life settlement market has changed amid increasing regulation. However, he said the sector would continue to grow as long as it remains clear about value, and older consumers believe it is a viable option for income. Click on http://www.ambest.com/v.asp?v=devine216 to view the entire program.
“The life settlement market has evolved a lot over the last few years, and I think the product has become more mainstream,” said Devine. “With today’s low rate environment and as people get older, they’re facing health and income issues. With that in mind, life insurance settlements are increasingly becoming another retirement planning tool, perhaps like reverse mortgages are a non-traditional tool,” continued Devine.
Devine also addressed the issue of the major challenges facing the life settlement industry today.
“Low interest rates certainly impacts things like cost of insurance. For investors purchasing a policy somebody is selling, you have to think about how those may change the economics of it. Another challenge is regulation. We live in a world of increased compliance, regulation and transparency. Suddenly you’re seeing in the life settlement market disclosure, with state regulation expanding considerably over the last few years, and I think it will continue to do so,” added Devine.
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