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Lifeline Program requires paramedical examination before selling policy

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The Lifeline Program now requires that all high net worth seniors selling a life insurance policy as an asset agree to a paramedical examination by a licensed physician prior to executing a life settlement contract with the company.

“Over the past 20 years, The Lifeline Program has taken the most conservative positions in the industry regarding transparency and legitimate insurable interests. Today, we continue to implement the kind of substantive underwriting processes necessary to develop as full and comprehensive an understanding of the life expectancy of the insureds from whom we buy policies to ensure the most acceptable offers for their asset and predictable returns on our investors’ capital,” says Scott Sanders, director of capital markets at The Lifeline Program.

To mitigate extension risk, the single most significant risk to return in a properly structured pool of life settlements, The Lifeline Program now requires an independent paramedical examination by a licensed physician to any insured seeking to sell a policy with a high face value.

This practice seeks to prevent the acquisition of policies that have overly optimistic life expectancy projections, caused by the abbreviating affect on life expectancies of unverifiable, unobservable health status claims such as loss of memory or dizziness.

The Lifeline Program, a division of Wm. Page and Associates, is a life settlement provider based in Atlanta, Georgia.

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