Tuesday, November 27, 2007
An Insurance Man Builds A Lively Business in Death
As Life Settlements Boom, Banks, Regulators Circle; Betting on Larry King
Alan Buerger wants to show investors the upside of death... The former insurance salesman runs Coventry First LLC, which lets investors essentially bet on -- and profit from -- other people's demise.
His company is in the business of buying rights to life-insurance policies. In an arrangement known as a "life settlement," Coventry pays the holder a lump sum for the policy now, takes over paying the premiums for as long as the insured person lives, then collects the benefits -- generally worth far more -- when the person dies. Coventry keeps some of the policies in its own portfolio. It sells others to institutional investors. From an investor's standpoint, as a general rule, the sooner these people die, the better...
WSJ: An Insurance Man Builds A Lively Business in Death
Alan Buerger wants to show investors the upside of death... The former insurance salesman runs Coventry First LLC, which lets investors essentially bet on -- and profit from -- other people's demise.His company is in the business of buying rights to life-insurance policies. In an arrangement known as a "life settlement," Coventry pays the holder a lump sum for the policy now, takes over paying the premiums for as long as the insured person lives, then collects the benefits -- generally worth far more -- when the person dies. Coventry keeps some of the policies in its own portfolio. It sells others to institutional investors. From an investor's standpoint, as a general rule, the sooner these people die, the better...
WSJ: An Insurance Man Builds A Lively Business in Death
Permalink posted by markw @ 12:12 PM 
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