LEGACY BENEFITS RECEIVES INDIANA AND UTAH LICENSES
New York, NY, June 4, 2009 - Legacy Benefits, LLC (New York), a recognized leader and innovator in the life settlements industry, has been granted life settlement provider licenses in the states of Indiana and Utah.
Legacy Benefits and its affiliate conduct business in the majority of U.S. states, and the company has recently launched a major initiative to secure licenses in those states where it is not yet licensed.
“We are continuously adding to our licenses as further regulation is enacted by the various states” said Meir Eliav, President of Legacy Benefits. “Our recently attained licenses in these key states are recognition of Legacy’s long standing in the marketplace coupled with our outstanding regulatory and compliance track record and business ethic.”
The ongoing licensing initiative aims to broaden Legacy’s policy sourcing capacity in anticipation of continuous purchasing activities. In recent years, the firm has expanded its operations by investing in professional staff, corporate offices and IT infrastructure to facilitate growth in line with that of the industry.
“Despite these challenging economic times, Legacy has increased its activity, consistently purchasing policies in the marketplace. We anticipate a very successful year for the firm,” added Eliav.
About Legacy Benefits
A recognized leader in the life settlement industry, Legacy Benefits Corporation pioneered this burgeoning specialty finance field 17 years ago. Today, Legacy Benefits, LLC maintains the company’s reputation as an industry innovator. Since 1991, Legacy Benefits has specialized in the origination, servicing and management of life insurance assets for a broad range of institutional clients. Legacy Benefits utilizes an ever-evolving array of sophisticated analytical tools and upholds the highest ethical standards when evaluating and acquiring insurance policies for its institutional clientele. Legacy Benefits was founded by company president Meir Eliav, a 30-year financial services veteran, who was a founding member and past-president of the Life Insurance Settlement Association (LISA), the largest U.S. trade association in the industry.
In 2004, Legacy Benefits Corporation became the first provider to originate a portfolio of life settlement assets for a securitization transaction, which was underwritten by Merrill Lynch and rated A1/Baa3 by Moody’s Investor Services.
