SOURCE: Life Insurance Settlement Association

Life Insurance Settlement Association

September 23, 2010 08:37 ET

The Life Insurance Settlement Association (LISA) Announced Today That Its Membership Is Again Growing

ORLANDO, FL--(Marketwire - September 23, 2010) -  "For us, this comes as good news, since we have approved 15 new members in 2010 and 9 the last three months. Clearly people are returning to the market and this is even better news for consumers who have a desire to obtain market value for an existing policy in the settlement market," said LISA Executive Director Doug Head. Today, LISA represents 132 life settlement companies. Since the financial market crash of 2008, investment interest had reduced market expansions and LISA membership had been reduced, but is now growing again.

Speaking to these shifts, Head explained, "Though LISA's membership has decreased in 2009 due to shifting market conditions, LISA's representation of the life settlement market has only been much strengthened. Today, LISA's 32 Provider members hold a remarkable 663 of the 896 life settlement Provider licenses issued in all the States. That is 74% of all Provider licenses which have been issued nationally and an average of 20 licenses for each member. This statistic alone affirms that we are well qualified to serve in our role as the voice of the life settlement industry." By contrast, there are 60 non-members licensed in the states. They hold 233 licenses, with 47 of them holding just one or two state licenses.

LISA researches and keeps these statistics because, unfortunately, six states do not post the names of their licensed Providers for the public and only make the lists available upon request, said Head. LISA provides a dynamic web-based research tool for consumers seeking life settlement brokers and providers licensed to do business in their state of residency.

Head added, "LISA also represents the best and brightest of the brokers in the industry, with the most professional and extensive skills which can be brought to the service of policy owners seeking to maximize the value of their policies in the market." LISA's 29 active Brokers hold licenses as either Brokers or as authorized agents to assist consumers in the regulated states. "Because state regulations differ and states do not post the names of such active Brokers in such a uniform manner, it is more difficult to demonstrate statistically that the Broker community is so effectively represented by LISA. Nevertheless, the Association's Board of Directors is chaired by a Broker and it is demonstrable that our members represent the most concentrated experience available to the public."

Other LISA Members include those who provide an array of supplementary services to the industry. Today, they comprise a remarkable array of entities, including law firms and life expectancy firms, and firms which provide other services. "We are the umbrella and strive to ensure that the settlement option is known and accessible to the consuming public."

With the development of new laws legitimizing and regulating life settlements rising from 5 states to 40 jurisdictions, the significant role of a national industry association has grown with the industry. "Membership inquiries were slow in the first half of the year. This scenario is now positively shifting as it should. Life Settlements are a promising asset class for investors and a good option for many American seniors. This uptick in interest is a good sign for the industry as a whole," says Will Menezes, LISA's Business Manager.

Founded in 1994, the Life Insurance Settlement Association is the oldest and largest trade organization in the industry. Its goal is to promote the development, integrity and reputation of the life settlement industry, and to promote a competitive market for the people it serves. LISA represents members with a wide variety of interests in the industry.

For more about the Association: www.thevoiceoftheindustry.com

Contact Information