New Interest in Life Settlements "Death Bonds"
After the mortgage business imploded last year, Wall Street investment banks began searching for another big idea to make money. They think they may have found one. Life Settlements - they plan to "securitize" life insurance policies, in Wall Street jargon, by packaging hundreds or thousands together into bonds. Banks will then resell those bonds to investors, like big pension funds, who will receive the payouts when people with the insurance die.
Maybe we'll even see the return of premium financing for Life Settlements deals.
-Victor
Millennium Lyon Asset Management
posted by Victor Lloyd Smith @ 12:25 PM
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