LEGACY BENEFITS GRANTED HAWAII LICENSE
New York, NY, November 4, 2008 - Legacy Benefits, LLC (New York), a recognized leader and innovator in the life settlements industry, has been granted a life settlement provider license in the state of Hawaii.
“We are attaining additional licenses as further regulation is enacted by the various states,” said Meir Eliav, President of Legacy Benefits. “Our license approval in Hawaii as well as other states is a tribute to Legacy Benefits’ long and outstanding regulatory and compliance track record as well as our ethical standards of business conduct.”
Legacy Benefits and its affiliates 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. As part of this effort, Legacy Benefits has also obtained a license in Nevada in recent months. The initiative is part of Legacy’s ongoing plan for growth that also includes expansion of its professional staff, corporate offices and IT infrastructure.
“Legacy Benefits supports licensing and other industry regulations that safeguard consumers and help maintain the highest integrity in the field,” said Eliav. “We have always adhered to our own best practice standards and encouraged others to do the same.”
About Legacy Benefits
A recognized leader in the life settlement industry, Legacy Benefits Corporation pioneered this burgeoning specialty finance field 16 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.
