Abstract
This Article analyzes the recent increase in secondary market transactions for life insurance policies (commonly known as life settlements). Part I of this Article discusses the life settlement transaction: who is involved, how the process works, and why people are using life settlements. Part II discusses the emergence of the market in light of its troublesome history and analyzes its future potential given demographic trends in the United States. Part III discusses the regulatory landscape of the life settlement industry, analyzing model statutes developed by the National Association of Insurance Commissioners (NAIC) and the National Conference of Insurance Legislators (NCOIL). Part IV addresses certain deficiencies in these model statutes and recommends certain actions to help ensure the proper growth of the secondary market for life insurance.
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