ORLANDO, FL–(Marketwire – October 6, 2009) – Yesterday, World News Tonight (ABC) considered
Life Settlements. Producers of the program found a physician consumer, Dr.
Eddy Powell, who had happily sold his life insurance policy for far more
than the value which the life insurer would have offered him at the time.
Dr. Powell sold the policy for a value which required the buyer to pay the
premiums for the rest of Dr. Powell’s (presumably long) life. In the ABC
piece, Dr. Powell expressed regret for having sold the policy because,
though the sale afforded him the ability to pay off his debts, he was no
longer the owner of the policy. According to some experts, Dr. Powell
appeared to have forgotten that, before considering the life settlement
option, he faced two unsavory choices: sell his policy to the insurer for
pennies on the dollar or allow it to lapse for a complete loss. The Life
Insurance Settlement Association (LISA) encourages people who can hang onto
their policies to do so
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