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Legacy Expands Policy Warehousing

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A life settlement firm is selling more life policy block administrative support services.

Legacy Benefits L.L.C., New York, says it now is warehousing life policies for life settlement clients as well as originated life settlement transactions.

Carefully warehousing life policies can improve the quality of the policy block and help ease the process of launching a life settlement fund, Legacy says.

Legacy recently drew on warehoused policies to sell a life settlement policy block backed by policies with about $36 million in face value, the firm says.