Information About 23rd Annual Fall Life Settlement Conference

Oct 23, 2017 2:16:00 PM / by Darwin Bayston, CFA

ORLANDO, Fla., Oct. 17, 2017 (GLOBE NEWSWIRE) -- Many American families today are facing financial security challenges and need to know their life insurance policies may be able to be monetized to help them address those financial needs, according to E. Benjamin Nelson, a former two-term U.S. Senator from Nebraska.


Senator Nelson

Sen. Nelson served as the featured keynote speaker for The Life Insurance Settlement Association (LISA)’s 23rd Annual Fall Life Settlement & Compliance Conference, which was held October 15th-17th at the Sandpearl Resort in Clearwater Beach, Fla. The theme for this year’s Fall Conference was “Charting the Course” and the event brought together 160 professionals participating in all aspects of the life settlement industry -- including brokers, providers, investors, funding entities, actuaries, attorneys and many other industry service professionals.

life settlement is the sale by the owner of a life insurance policy for an immediate cash payment. The buyer of the policy assumes all future premiums payments and receives the death benefit upon the passing of the insured. On average, consumers receive four to seven times more from a life settlement than what they would have received from surrendering it back to the insurance company.

“In monetizing a life insurance policy, life settlements have changed the way Americans should think about life insurance,” said Sen. Nelson. “The life settlement industry has created an avenue for families to address their immediate financial needs in a way that is cost-effective and appropriate.”

The life settlement industry has been enjoying steady growth in recent years and is projected to sustain that growth for the next decade. According to Conning’s 2017 Life Settlements research report released last week, there were $2.6 billion in life settlement transactions completed last year, up from $1.7 billion in 2015. The firm forecasts that, over the period of 2017 through 2026, the average annual amount of new life settlements will be $2.4 billion, an increase from their prior forecast a year ago.

“Our industry is thriving today because a life settlement offers an attractive option for seniors who no longer want or can afford a life insurance policy, and the market for those transactions is safe and well-regulated,” said Darwin M. Bayston, CFA, president and chief executive officer of LISA.

Another important conference session was a state insurance regulators panel, moderated by Former North Carolina Insurance Commissioner Wayne Goodwin and consisting of special guests Jay Florence (Deputy Insurance Commissioner of Georgia) and Bob Williams (Director, Life & Health Actuarial Division in Mississippi). The panelists provided updates on key regulatory issues impacting the life settlement industry, such as consumer disclosure requirements and cost of insurance concerns.

Mr. Florence and Mr. Williams each reported no consumer complaints in their states regarding life settlements and indicated their support for “making consumers more aware of the life settlement option if they own a policy they no longer want or can afford.”

Other conference highlights included:

  • A presentation from Colby Winslow, senior wealth planner with WaterOak Advisors, LLC, regarding the unique role of financial advisors in retirement planning and the keys to connecting with the financial advisor industry to expand the market for life settlement transactions.
  • A session focused on cybersecurity challenges in the life settlement industry, featuring guest speakers Brian Finch (Partner, Pillsbury Winthrop Shaw Pittman LLP) and Steven Schwartz (President, Global Cyber Consultants), which detailed emerging threats and tips for how to keep business and client data safe from cyber threats.
  • A tax and securities update from Mayer Brown LLP Partners Lawrence Hamilton and Mark Leeds, addressing some of the critical issues surrounding tax treatment of life settlement transactions and the status of life settlements under federal securities laws.
  • A session led by industry thought leaders John Dallas (CEO of Berkshire Settlements, Inc.), Tim Demars (Vice President, Lewis & Ellis Actuaries and Consultants), Clay Gibson (Senior Portfolio Manager, Vida Capital Inc.) and Sheri Townsend (Chief Operating Officer, Asset Servicing Group, LLC), which addressed key issues that must be managed after the purchase of a life insurance policy, such as dealing with difficult insurance carriers or uncooperative insured individuals.
  • An update on LISA’s various tactical initiatives in support of the life settlement industry, presented by LISA Chairman James Maxson (partner at Maxson Law, LLC) and LISA Board Member Dan Young (senior managing director at Vida Capital, Inc.).

To review the entire agenda, please click here.

About the Life Insurance Settlement Association

The Life Insurance Settlement Association (LISA) is the nation’s oldest and largest organization representing participants in the life settlement Industry, with a current membership of more than 90 companies doing business in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. The mission of LISA is to promote the development, integrity and reputation of the life settlement industry, to advance the highest standards of practice and professional development for the industry, and to educate consumers and advisors about a life settlement as an alternative to lapse or surrender of a life insurance policy. For more information, visit

Darwin Bayston, CFA

Written by Darwin Bayston, CFA

Darwin Bayston is President and CEO of the Life Insurance Settlement Association (LISA). His charge is to extend the outreach of the Association to all participants of the life settlement industry from consumers to capital providers, including producers, brokers, providers and service providers who are part of the life settlement market. He was previously Managing Director of Life Settlement Consulting & Management (LSCM), founded in 2004 and specialized in life settlement policy and portfolio valuations, and life expectancy analysis. He has published several articles and participated as speaker at a number of life settlement conferences. Previous to that he operated an investment advisory firm. From 1980 to 1993, he served in several capacities, including President and CEO the CFA Institute (and its predecessor organizations). While at CFA, he founded the continuing education program, was editor of the CFA Digest and supervised research projects funded by the Research Foundation of the ICFA. He began his career as an investment analyst with a Midwest life insurance company. Mr. Bayston has been Chairman of the Martha Jefferson Hospital Foundation ($100 million), a member of the Hospital’s Finance Committee and a past member of the Board of the Institute for Quantitative Research and Finance (Q Group).