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Settlement SYNC, a New York Life Settlement Broker, has introduced Shaun M. Frank as the newest Senior Managing Partner. Shaun’s primary focus will be client acquisition and his secondary focus will be on premium financing cases. Currently, Settlement SYNC is not licensed to perform Premium Finance transactions, but is in the process of applying for such licensing in five(5) states.

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Industry leader Welcome Funds, recognizing the rapidly growing need for additional resources in the area of Life Settlements and continuing its commitment to expand its educational platform, has partnered with 360Training.com to provide state approved insurance CE courses. The CE course utilizes Welcome Funds’ knowledge, experience and subject matter expertise by offering life settlement education to life producers, registered representatives, broker-dealers, wealth managers, estate planning attorneys and other financial professionals throughout the life insurance and financial services community.

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“I’m not sure what they are trying to do,” said Doug Head, executive director of the Life Insurance Settlement Association, which represents about 185 companies nationally involved in life settlements. Head and other representatives of the life settlement and life insurance industry have been meeting with legislators in New York over the last nine months to craft a consensus life settlement bill. The bill, Senate Bill 8593/Assembly Bill 11679, could still be passed in special session this year, as it has the support of Assembly and Senate leadership of the respective insurance committees.

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Head said: “LISA will continue to lead national efforts to adopt state laws to regulate the life settlement market and address concerns about stranger-originated life insurance (STOLI).” In 2009 as many as 20 states are expected to consider life settlement/anti-STOLI legislation. LISA supports legislation based on the National Conference of Insurance Legislators (NCOIL) life settlement model act and, Head noted, “life insurers supported such NCOIL-based legislation in numerous states in 2008, including in California, New York, Kansas, Connecticut and Kansas, and several others.”

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Today, Settlement SYNC, has launched a brand new Express product that can close for most clients in as little as 21 days. The minimum requirements for the client are 65 years of age or older and a minimum face value of $500,000.00. The process encompasses that of a traditional life settlement, but grants the Term Policy a cash value that never before existed. For example, Universal Life and Whole Life policies have something called a cash surrender value (CSV), whereas the Term Policy does not.

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Michael Fasano, President of Fasano Associates, proposed Best Practices standards for Life Expectancy Underwriters to more than 300 industry participants attending Fasano’s Fifth Annual Life Settlement Conference. Fasano called on life expectancy underwriters to retain qualified, independent actuarial firms to conduct regular analyses of Actual to Expected accuracy in a standardized format that would allow meaningful comparisons to other life expectancy underwriters.

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Advanced Settlements, a national leader in the life settlement marketplace now offers and a new funding option where you and your client can now participate in Life Settlements and ensure full personal and medical redaction. This new platform addresses potential transaction concerns and market challenges by providing one of the best life settlement solutions - creating opportunities for consumers, financial professionals and investors. The new life settlements platform is called Institutional Life Services (ILS) which is owned by National Financial Partners (NFP), Goldman Sachs and Genworth. “This new platform redacts personal information along the transaction chain to resolve potential concerns regarding insured’s privacy,” said Scott Kirby, Co-President of Advanced Settlements, Inc.

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Automated Installment Systems (AIS), a leader in insurance premium financing management, announces record third quarter annualized returns of over 30% ROI for agency owners utilizing their “Own Your Own” premium financing product EPITOME(R). Despite a difficult financial environment, AIS clients are recognizing ROI above the “Own Your Own” product’s average of 30% even as the overall credit market tightens.

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Global Life Solutions is entering the competitive life settlement brokerage marketplace with one main focus, to give financial professionals and their clients the best service and highest offers available in the life settlement market.

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Browndorf PEM recently announced the launch of Browndorf Life Settlement Fund LP. This set of services is created to manage portfolios focused on longevity based or life-linked assets such as Senior Life Settlements.