Michael Abraham

National Underwriter Life and Health

By: Trevor Thomas

One of the myths and misconceptions surrounding life insurance settlements is that they take advantage of the terminally ill and elderly, said William Scott Page, chief executive officer of Wm. Page & Associates Inc., Atlanta, at a recent webinar.

Commentary by Michael Abraham:
The article itself is well balanced, it is however a fact that it ‘sells more papers’ to report that the industry takes advantage of the elderly rather than explain that the industry is playing an increasingly important role in ensuring the elderly have choice!  As Boris Ziser infers selling may well be a better option than taking out a reverse mortgage – at least you don’t lose your house

http://www.lifeandhealthinsurancenews.com/Exclusives/2009/12/Pages/Feature-Execs-address-adverse-publicity-for-settlements-industry.aspx?k=new+york

Miami Herald

By: Nirvi Shah

Seniors who need cash in the midst of the recession may want to consider selling their life insurance policies, some financial advisors say.

http://www.miamiherald.com/business/personal-finance/story/1379877.html

Best’s Review

It’s not every day that a push for more regulation can be construed as a pro-insurance-industry move. But some within the fledgling life settlement industry hope that pro-consumer legislation in the states of Washington and Maine leads to a tipping point.

Commentary by Michael Abraham:
Good considered regulation can no doubt help, but it is a fact that regulation in many states has really led to the development of regulated roles which have culminated in increased costs which ultimately is carried by the insured.  In other words poor regulation has led to the reduction in the price received by the insured, and in most cases without the concomitant improvement in security.

http://www3.ambest.com/Frames/FrameServer.asp?Site=bestreview&Tab=1&RefNum=165844