Tuesday, October 06, 2009
The Business of Life Insurance: Betting on Your Own Mortality
Wall Street Wants to Securitize Life Insurance and Some See Another Debacle in the Offing
After Dr. Eddie Powell lost both his legs to a hospital infection, he desperately needed financial help to support his practice and three children in medical school. So the 61-year-old did what more and more cash-strapped Baby Boomers are doing these days: He sold his life insurance. "For close to a million dollars of insurance, I got a hundred and some thousand dollars," Powell said... Coventry, a life settlement company, took Powell's policies, bundled them with others and sold them to banks or hedge funds as investments...
ABC: The Business of Life Insurance: Betting on Your Own Mortality
After Dr. Eddie Powell lost both his legs to a hospital infection, he desperately needed financial help to support his practice and three children in medical school. So the 61-year-old did what more and more cash-strapped Baby Boomers are doing these days: He sold his life insurance. "For close to a million dollars of insurance, I got a hundred and some thousand dollars," Powell said... Coventry, a life settlement company, took Powell's policies, bundled them with others and sold them to banks or hedge funds as investments...
ABC: The Business of Life Insurance: Betting on Your Own Mortality
Permalink posted by markw @ 5:10 AM 
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