WASHINGTON AP - The SupremeCourt declined Monday to rule on a case that tests whether states can regulate the sale of life insurance by policyholders to investors, a practice known as "viatical" or life settlements.Under viatical settlements, individuals sell their life insurance policies for less than face value to third parties, including investors such as hedge funds, in order to realize an immediate cash benefit.
December 03, 2007 at 12:00 AM
1 minute read
WASHINGTON AP – The SupremeCourt declined Monday to rule on a case that tests whether states can regulate the sale of life insurance by policyholders to investors, a practice known as “viatical” or life settlements.
Under viatical settlements, individuals sell their life insurance policies for less than face value to third parties, including investors such as hedge funds, in order to realize an immediate cash benefit.
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