Life Insurance Settlement Association

FOR IMMEDIATE RELEASE
new york city, New York, United States of America (Free-Press-Release.com) September 13, 2011 -- LISA , being the nation’s oldest organization representing several participants in the settlement industry, has once again stressed on the importance of awareness amongst the common public about the vulnerability they possess when it comes to investing in lifetime saving plans. It speaks of how fraudsters exploiting the investors must more strictly be punished in order to curb their menace from roots. The scams and scammers, LISA claims, must be more closely watched in order to ensure that the innocent victims do not undergo the pain of losing their hard earned money to them.

Darwin Bayston, the current Executive Director of LISA , strongly condemns the increasing number of fraudsters in the area of life settlement industry. He believes that the common public is more susceptible to being cheated by bogus insurance providing company in today’s age where economic recession is ruling. In order to ensure that such fraudsters do not succeed, he stresses on the significance of increased awareness that needs to be spread amongst common people. LISA also strongly supports the release of annuallist consisting of such fraudulent companies by NAASA (North American Securities Administrators Association). The annual list contains the list of all schemes that are suspected to be traps for innocent investors.

One such scheme that has notably caught the eye of NAASA is "Securitized Life Settlement Contracts". This scheme combines life settlement contracts and bonds. A specific amount in insured even after the insurer has outlived his/her life expectancy. This sort of investment sure seems to have been formulated for the main purpose of luring the investors with immensebut hollow money back policies. The most recent step taken to discourage such fraudulent insurance company is the new rule that mandates all insurance companies to be registered under state or federal law. Also, in order to function in the insurance industry, all the companies will need a license.

A report of June 2010 released by Securities and Exchange commission claims that almost 48 out of 50 investment plans have been regulated as state laws. This step has guaranteed that new investment plans and the promoters of such schemes need to acquire a license to operate subsequently reducing the number of possible cheaters in this area. LISA and NAASA have taken exclusive steps towards alerting the public about illegal scams in the investment industry and providing them with credible information. Any company that operates in unregulated environment without sufficient funds to carry out the scheme is blacklisted thus enlightening the public about such illegitimate scammers.

LISA has been in the lifetime settlement industry for over a decade with the mission of promoting responsible legislation and regulation in the industry. It aims at making this industry free of fraudsters and subsequently proving the people it severs, a competitive, valuable and healthy financial service.

lisa