Larry King Life Settlement Update

Joel A. Schoenmeyer of the Death & Taxes Blog (one of my favorites) writes here about Mr. King’s life settlement woes and makes a good distinction that I had thus far failed to point out:

Note that the type of life insurance settlement mentioned in the article is not the same as a viatical settlement, which was a concept that became popular about a decade ago. Viatical settlements were used in cases of terminally ill individuals (such as individuals with AIDS), to free up money for treatment, etc.

By contrast, life insurance settlements are used by individuals who are not terminally ill, individuals who have existing policies on which they no longer want to pay the premiums.

Thanks Joel – good to see you posting again!

Also, I’m about to be quoted in the National Underwriter in their impending article on Mr. King and life settlements… Stay tuned!

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