Are life settlements good for the consumer?
Yes. More than $9.7 trillion of individual life insurance was in force on 167.7 million policies at the end of 2004, according to the 2005 Life Insurers Fact Book, compiled by the American Council of Life Insurers, and almost 9 of 10 universal life insurance policies are lapsed or surrendered (approximately 40 percent in the first five years from the date of issuance of the policy).
