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The growth in the life insurance secondary market, namely life settlements, is causing concern for life insurers, with experts saying life settlement transactions "distort" years of pricing assumptions life insurers have made on policies. The BVZL was founded by institutional investors to develop industry standards with respect to transparency and comparability of the various investment segments involved in the life settlement market, including those from Britain, Germany and the United States. LIFA and its members strongly believe that life insurance policies should only be purchased based upon an insurable interest in the life of the insured, regardless of whether the consumer chooses to finance the purchase of such policy through a life insurance premium finance transaction, and staunchly oppose the sale or purchase of life insurance policies that violate state insurable interest laws. |
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