A life settlement company says it has helped an investor client sell a large pool of settled policies.
Legacy Benefit Corp., New York, reports that the life settlement portfolio included life insurance policies that are set to pay $148 million in net death benefits.
The names of the seller and the buyer, and the price of the sale were not immediately available.
Legacy developed the portfolio for the investor, and it represented the investor in the resale effort when the investor decided to cash in on an increase in the value of the portfolio, Legacy says.
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