Wm. Page & Associates Inc. says it is now requiring that all seniors selling a high-value life insurance policy through its Lifeline Program agree to undergo an examination by a licensed physician before signing a life settlement contract.
The requirement should reduce the risk that unexpectedly long policyholder lifespans will hurt investment returns, according to Wm. Page, Atlanta. The company says it hopes the exams can help prevent it from acquiring policies from owners who will live far beyond the projected life expectancy.
The exams would eliminate what Wm. Page calls “the abbreviating affect on life expectancies of unverifiable, unobservable health status claims such as ‘loss of memory’ or ‘dizziness,’” the company says.