SOURCE: AAA Settlements

August 17, 2007 10:02 ET

Senior in His 70s Receives 50% of His Life Insurance Policy While Selling His Policy Through AAA Settlements Brokerage

BROOKLYN, NY--(Marketwire - August 17, 2007) - AAA Settlements Inc. has recently completed a life settlements transaction which netted the policy owner, an active business owner in NYC, 50% of the policy face value. This successful transaction has been reported by the NY Daily News (July 30, 2007 in the "Your Money" section).

From the investments side the Daily News article points out that life settlements have become a big business on Wall Street where policies are bundled and sold to finance giants such as AIG, Wells Fargo and Goldman Sachs. While a recent Business Week cover page article "Profiting From Mortality" was mainly focused on how big Wall Street firms are buying life settlements, the Daily News focused on the Consumer side as well. As an example of a happy consumer who really benefited from life settlements, the reporter interviewed one of AAA Settlements' clients, a 74-year-old who recently sold his $350,000 policy for a net payment of $175,000. He bought his policy in 1985 and had been paying $3,600 in annual premiums every year since, but has recently learned that his premiums are about to go up dramatically due to a cut in the interest credit that the company applies to the policy cash value. "I decided I would be better off selling my policy right now and give the proceeds to my children," the policy owner explained.

"Although we have had several occasions that we where able to a get net 50% offer for the policy owner, this is the first time that we had this success for a person in their 70s, who is active and working; the others were all insured in their 80s," said Al Weinberger, senior partner of AAA settlements.

About AAA Settlements

AAA Settlements is an emerging Life Settlements Brokerage Company that works with financial professionals and life insurance agents, and specializes in getting the best offers for policy owners.

AAA Settlements is an active member of the "Life insurance settlements association" (LISA) and is currently working with close to 50 life settlements providers.

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