Correction: Wrong Firm Named In Article On Viatical Lawsuit

o A statement that “In fact, the life expectancy claims were based on false medical reports by individuals in the employ of Benefits America including one who had no medical license, the suit charges.”

o A statement that “The plaintiffs charge Benefits America and its officials knew there was no basis for their life expectancy claims and that as a result, funds that buyers paid to cover the premiums due on the policies ultimately would be exhausted, requiring Benefits America to find new investors just to maintain the policies.”

o A statement that “In some cases, the suit charges, brokers bought policies of insureds who were not terminally ill, known as a life settlement, then sold them at a large profit to Benefits America as viatical investments, falsely claiming the viators had life expectancies of 48 months or less.”

o A statement that “Some of POA’s original board members had been former agents and officers of Benefits America, including several who would eventually become defendants in the suit. Among them were Benefits officers Edwin C. Hirsch and Robert J. Brown, who were eventually ousted from the POA board…”

o A statement that “More than 700 agents of Benefits America and its related companies sold viaticals to POA investors…”

We apologize for the errors and any confusion that may have resulted from them.