The group's principal activity is to match viators with viatical settlement purchasers. The group also undertakes senior life settlement transactions. A viatical settlement is the sale of a life insurance policy by a terminally ill person to another party. By selling the policy, the insured (a viator) receives an immediate cash payment to use as he or she wishes. The purchaser takes an ownership interest in the policy at a discount to its face value and receives the death benefit under the policy when the viator dies. In the senior life settlement transactions the group assists elderly individuals to reallocate their assets from insurance policies into assets used for long-term care coverage, annuities and investments.
