Life Settlement Solutions Inc. says it is extending its life settlement backup services to portfolio owners outside its existing clientele.
LSS, San Diego, says it has seen an increase in the number of requests for settlement portfolio services from institutions it has not previously dealt with.
Settlement portfolio owners consist of banks, hedge funds, pension funds, private equity funds and other institutions.
Services requested include a review of policies in a settlement portfolio to assure that premiums payments are up to date and to avoid policy lapses, LSS says.
Some settlement investors have been experiencing a capital crunch due in part to the elongation of life expectancy reports, which caused some investors to hold onto portfolios longer than they had originally planned, says Larry Simon, president and CEO of LSS.