FOR IMMEDIATE RELEASE

Industry association has record-setting meeting

VLSAA growth strong, expected to continue

Orlando, FL (May 23, 2005) – The Viatical & Life Settlement Association of America (VLSAA) convened its two-and-one-half-day spring meeting last week in New York, hosting a record-setting 300 attendees that included both members and various entities considering membership.

The first day of the May 11-13 meeting was dedicated to a Life Settlement 101 session, geared primarily for those new to the industry or exploring entry into it. More than 220 people attended the session, which was the first of its kind for the VLSAA.

“Our membership has doubled in the past year,” says M. Bryan Freeman, president of the Association’s board, “so we felt it was crucial to pause and provide solid guidance to our many new members and to all of the others who have expressed interest in the VLSAA and the industry it represents.”

Freeman, who is the founder and president of Habersham Funding, LLC, of Atlanta, notes that the Association’s membership now numbers nearly 80. A current list of the membership can be found below.

“We expect this impressive growth – which is surely an indicator of the industry’s evolving strength – to continue, at least for the near future,” he says. “And, as we saw in New York (at the spring meeting), much of this growth will come as more financial institutions take interest in and an active role in the industry.”

At the conclusion of the meeting, VLSAA members re-elected five members of the board to continue their terms on the nine-member board. The Board then met and approved the application for membership of the latest member, Wells Fargo Delaware Trust Company.

The mainstream viatical and life settlement industry, which had existed previously in limited form, came into the mainstream in the late 1980s. At that time it focused primarily on viatical settlements – which enable people who are seriously ill to sell their life insurance policies for an immediate cash settlement. These soon made way for life settlements, which also enable people to sell their life insurance policies; rather than being based on terminal illness, life settlements are usually transacted by seniors and other high-net-worth individuals for estate and financial-planning purposes.

The vast majority of the industry is now focused on these high-net-worth transactions – life settlements – rather than on viatical settlements.

The VLSAA is an Orlando, FL-based non-profit trade association founded in 1994 to serve as a national resource center, providing information about viatical and life settlements. The VLSAA, which currently has 78 member companies, is the industry’s largest and oldest trade and professional organization.

For more information about the VLSAA, please visit the organization’s web site, www.viatical.org, or call 407-897-3797.

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VLSAA Members, as of May 20, 2005:

  • 1st Life Financial
  • 21st Services
  • Advanced Planning Services
  • Advanced Settlements, Inc.
  • ALIR
  • AmeriFirst, Inc.
  • AMG/Neuma
  • Assignable Life Assets
  • AVS Underwriting, LLC
  • Baker & McKenzie
  • Benefits America NA, Inc.
  • Berlin Atlantic Capital
  • Blackburn Life Settlements
  • Cale "Kit" Carson
  • CMG Surety
  • Core Group International
  • Coventry First
  • ELA Settlement Services
  • EMSI
  • Erwin & Johnson, LLP
  • Fasano Associates
  • Fasken Martineau DuMoulin
  • Fidelity Assurance Assoc.
  • Genesett Capital Corp.
  • Habersham Funding, LLC
  • Ideal Life Insurance Redemption
  • Independent Funding, LLC
  • Integrity Life Settlements
  • Invescor, LTD
  • Jodi Friedman & Assoc.
  • Legacy Benefits
  • Lewis & Ellis
  • Lexington Settlements, LTD
  • Life Advisors, Inc.
  • Life Asset Group, LLC
  • Life Equity
  • Life Insurance Settlements, Inc.
  • Life Investment Services
  • Life Settlement Insights, LLC
  • Life Settlement Providers, LLC
  • Life Settlement Risk Management
  • Life Settlement Solutions
  • Life Settlement Strategies
  • LifeTrust, LLC
  • Lord Bissell & Brook
  • Magna Administrative Services, Inc.
  • Maple Life Financial, Inc.
  • McNerney PA
  • Milestone Settlements
  • Mills, Potoczak & Company
  • Murray, Simmons, Ziegler
  • Page & Associates
  • Peachtree Life Settlements
  • Phil Spalding
  • Phoenix Rising Enterprises
  • Portsmouth Settlement Co.
  • Q Capital Strategies, LLC
  • Scope Provider Management Quality
  • Secondary Life
  • Secondary Life Capital
  • Senior Settlements
  • Shepherds Group
  • SLS West, LLC
  • Spear, Safer, Harmon
  • Stamford Group, Inc.
  • Sterling Advantage, LLC
  • Stonewood Financial, LLC
  • Strategic Capital Group
  • The Ardan Group
  • The Life Settlement Alliance
  • Trinity Financial
  • Unique Settlements, LLC
  • Value Life Corporation
  • VESPERS, LLC
  • Viatical Settlements, Inc.
  • Welcome Funds
  • Wells Fargo Delaware Trust Company

Editors:

  • Photos of Bryan Freeman and Doug Head, as well as a JPEG of the VLSAA logo, are available.
  • To speak with M. Bryan Freeman, the president of the VLSAA board, please contact his information officer, Drew Plant, at 404-634-7102 or AtlantaWriter@mindspring.com. Freeman is a licensed life insurance agent with 26 years’ experience in that industry; he has worked in the life settlement industry since 1989.
  • To speak with Doug Head, executive director of the VLSAA, please contact him at 407-897-3797 or doughead@cfl.rr.com. Head has been the association’s executive director since 2001, and has worked in the settlement industry since 1991.