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Another option for seniors is life settlements.  Seniors who have life insurance policies may not realize that they can sell them for cash at a fair market value.  There are financial institutions and investors that will actually purchase life insurance policies for more than their cash surrender value.  These purchasers become the new beneficiaries of the policies when they mature and are responsible for all remaining premiums, if any.  A senior interested in conducting a life settlement should first consult with an advisor in order to come to a decision as to whether to sell his or her policy.  Second, the Senior and advisor decide whether to work with a broker or to go directly to providers.

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Five years after their company was shut down, four officials of a viatical and life settlement company have been indicted.

In a 25-count indictment, Joel Steinger, Steven Steiner, Michael McNerney and Anthony Livoti Jr. of Mutual Benefits Corp. were charged with, among other things, conspiracy, mail fraud, wire fraud and money laundering.

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Executives from The Lifeline Program today announced new efforts to promote investment in portfolios of life insurance settlements to financial institutions and hedge funds. Life settlement portfolios are on-correlated to the stock market and have performed well despite the current turmoil in the financial sector.

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AFCO Credit Corporation today said it plans to buy the domestic operations and assets of the premium finance business of Cananwill from Aon Corporation (NYSE: AON).

Glenview, Ill.-based Cananwill provides insurance premium financing for commercial property and casualty policies. It was founded in 1937.