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Life Health > Life Insurance

Ask the expert: What about privacy?

By Michael Coben

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The question was: My client is a good candidate for a life settlement. However, he has asked about the privacy of his medical information during the transaction. How do I advise him on this point?

The answer is: Your client’s privacy is of critical importance and should be closely guarded.

The leading life settlement firms maintain robust privacy measures that incorporate rigorous physical, electronic and procedural protections to safeguard your client’s information.

To understand these protections fully, it is important to review not only the respective privacy notices of each of the firms participating in a life settlement, but also your client’s rights under the settlement paperwork.

Each firm’s privacy notice should clearly state that company’s policies regarding confidential information. It should articulate what information is collected, how it is used and who has access to it during and after the transaction.

If you, your client or the client’s legal counsel have any questions about the privacy policy or how confidential information will be handled, or about your client’s rights under the settlement paperwork, you should address them directly to the settlement company.

Michael Coben
Senior Vice President, National Distribution
Coventry
Fort Washington, Pa.
www.coventry.com