Associated Press

By: Michael Gormely

A new New York law seeks to protect consumers by regulating “life settlements,” in which the elderly sell their life insurance for far more than the value upon cancellation to get cash, often to stave off hard times.

Commentary by Michael Abraham:
Protection is important but surely, as with most things, education is the more important aspect and both regulators and insurance carriers should get behind bodies such as LISA who are trying to provide this service.

http://www.google.com/hostednews/ap/article/ALeqM5iZNPnIJlGWBRHC9Q8NyorM0amMFgD9C7U7VG0

Published on 27 Nov 2009 at 07:20 am