Spin-Life Policies
A
vast number of seniors are selling their life
insurance policies to investors. When the senior
dies, the investor receives the death
benefit. Further, many investors
are paying for seniors to apply for life insurance,
lending them money to purchase the policies and reselling
these policies to speculators. These policies are known
as speculator-initiated life insurance, AKA "spin-life
policies."
Purchasing spin-life policies is a great opportunity
for investors to help seniors live the rest of their
lives without worry, while taking advantage of a highly
lucrative investment. This revolutionary concept is
spreading across the country like wildfire, and savvy
investors are cashing in. In fact, investors predict
that spin-life policies worth up to $13 billion will
be sold in 2007.
While investors experience huge financial gain by
purchasing spin life policies, seniors also reap the
rewards. Many seniors sell their policies because they
desperately need the money for medical care and living
expenses due to depleted bank accounts and the exorbitant
cost
of healthcare.
In 2006, the Financial
Accounting Standards Board issued rules allowing investors to record spin-life
policy purchases as profits immediately rather than
waiting until the policyholder died, which further
increased the demand for the purchase of spin-life
policies by investors.
To find out how spin-life policies work, please read the article
"Late in Life, Finding a Bonanza in Life Insurance"
by Charles Duhigg.
If you're an investor who wants to enjoy the
potential financial rewards afforded by the purchase
of a spin-life policy, give our firm a call today.
