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| Life Asset Group Hosts Florida State Senator and Kentucky Insurance Regulator at Life Settlement Conference
November 2003 (Newstream) -- Life Asset Group, a leading life settlement broker, was pleased to welcome Florida State Senator Steven Geller and Kentucky Director of Life Insurance Brian Staples as it co-hosted the Viatical and Life Settlement Association of America Conference in Miami Beach, November 13th and 14th. A record number of industry professionals attended the conference marking the 10th anniversary of the Association. Topics of discussion included the accelerated growth of the life settlement industry, setting industry standards and legislative and regulatory activities that are anticipated to help strengthen the marketplace. Senator Geller, a senior Senator from Florida, was the keynote speaker at the conference. He has been very active in sponsoring legislation to both support and regulate the industry. The Association and its members have been extremely active in legislative and regulatory matters at the national level as well as in individual states. Jolene D. Fullerton, General Counsel for Life Asset Group, has been actively involved with the National Association of Insurance Commissioners ("NAIC") in the drafting of new Model Viatical Settlement Regulation as well as the updated Model Viatical Settlement Act that was approved in 2000. "It's a very exciting time for the life settlement industry as the public begins to understand the financial value of selling their non-performing life insurance policies," said Fullerton. "As an association we are now taking charge of our destiny and paving the way for an industry that benefits and protects everyone involved." Conference attendees also discussed the creation and adoption of "professional standards" by which all Association members would abide. The new proposal would be an expansion of previous resolutions and would provide Association members with a "best practices" roadmap by which to move forward in their business. Life Asset Group endorsed the proposal and continues its aggressive campaigns to educate the marketplace and expand the industry. Life Asset Group has brokered over $87 million this quarter to date and expects to broker a total of more than $200 million in the face value of policies by the end of this year. Life Asset Group brokers the sale of existing life insurance policies in the secondary market to third party funding groups for their true market value. This value is always more than the policy's cash surrender value, with industry estimates of an average of 3.6 times higher. The company has experienced tremendous growth since inception as the baby boomer population ages and their life insurance needs continue to change. Life Asset Group has formed relationships with the industry's largest and most reliable funders of life settlements and works to provide the highest offers available in the market place for unwanted or unneeded policies. About Life Asset Group Life Asset Group is a Florida viatical and life settlement broker with authorization to conduct business in 33 States. As one of the industry's most informed and experienced brokers, Life Asset Group delivers superior results to its clients, providing an innovative solution to unwanted or unnecessary life insurance policies. Life Asset Group is a member of the Viatical and Life Settlement Association of America and actively supports legislative and regulatory efforts aimed at establishing high standards for everyone engaged in the life and viatical settlement business. For additional information, visit the company web site at www.lifeassetgroup.com or call toll-free (800) 481-3481. --------------- Produced for Life Asset Group Contact: --------------- |
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