Meeting Life’s Changing Needs
In a Smart New Way
There are a number of good reasons
for a policyholder to consider a Life
Settlement:
• Surrendering or lapsing a
policy is in question
• Insurance needs have changed
• Beneficiaries have been outlived
• Premiums have become
unaffordable
• The insured needs new life
insurance, an annuity or long-term
care coverage
• Estate taxes are changing
Compliance
Working According to the Highest Standards – From Day One
Abacus Settlements, LLC is firmly committed to operating and serving its clients with the highest level of excellence – taking the vital considerations of compliance and licensing/registration requirements with the utmost sincerity.
The National Association of Insurance Commissioners (NAIC) drafted model legislation – in 1993 and 2001 – for each state to weigh when determining licensing requirements for the Life Settlement industry. NAIC breaks Life Settlement into two categories:
• Insured individuals with a life expectancy of two years or less, referred to as viatical settlements.
• Insured individuals with a life expectancy greater than two years
Based on our internal review in June 2007, 28 states have enacted some form of life settlement regulation, and 39 states have implemented some form of viatical settlement regulation. Abacus Settlements, LLC:
• Is currently applying for license or registration in all states in which it intends to conduct business.
• Is conducting business in all states without a license or registration requirement
• Is requiring that its compliance department maintain strict compliance at all times and as relevant regulations change and evolve
• Is investigating the manner in which life settlements may be purchased under the laws of other countries beyond our borders
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