|
LISA Standards
Click on the links below to find the
standards adopted by the LISA
Premium Finance - Revised on March 9, 2006
The LISA supports the long-standing
concept of insurable interest and the requirement that the
policyholder have an insurable interest in the insured’s life at the
time a life insurance policy is issued. This concept protects
insureds, policy owners, beneficiaries, life insurance companies,
life insurance settlement companies and provides integrity to life
insurance products. The LISA is, and always has been; opposed to
investor initiated life insurance transactions that are intended to
circumvent insurable interest law. Legitimate premium finance loan
transactions can be a useful means by which the costs of paying for
life insurance can be properly financed. The LISA opposes loans that
attempt to use the life settlement transaction to validate
illegitimate premium financing transactions.
|
