Thursday, May 17, 2007

Life Insurance Settlement Association Attendance

The Life Insurance Settlement Association (LISA) again broke its own attendance records at the 13th bi-annual spring meeting last week in New York. More than 550 attendees gathered in what Executive Director Doug Head called "a historic, highly successful meeting."

Among other business, LISA members presented the inaugural Life Consumer Freedom Award to Georgia Insurance Commissioner John Oxendine. Head says the award, which was initiated by the LISA Board and based on nominations from LISA Members, recognizes Commissioner Oxendine "for his recognition and support of consumer property rights," referring to the ongoing efforts of some critics of the life settlement industry to deny consumers the contractual rights to sell their life insurance policies.

A life settlement is the sale to a third party of an existing life insurance policy for more than its cash surrender value but less than its net death benefit. Such transactions are usually undertaken for the purposes of estate or financial planning.

Commissioner Oxendine reflected upon his experience at LISA, saying, "Attending the LISA meeting was an eye-opening experience; it is one that all regulators and interested legislators should have as it shows the real scope and professionalism of the settlement industry. I am honored to be the first recipient of LISA's Life Insurance Consumerism Award."

"We believe in consumer choice, and Mr. Oxendine obviously shares that view," Head says. "He and legislative and regulatory leaders like him have stood up for personal freedom for consumers. We firmly believe this includes the opportunity for people to be able to realize the value in the investment they have made in life insurance. No consumer should be obligated or locked into products that no longer fit their needs. Fresh thinking has helped people to break chains at every stage of American progress. Commissioner Oxendine is part of that effort."

Source: Market Wire

Call 1-888-973-8377 to speak with a Life Settlement Specialist. You also can get a FREE Life Settlement Quote.

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