Just received an alarming spam. They are now flogging life settlements, encouraging that CPAs advise clients to sell their life insurance policies in return for a cash stream. To be securitized, tranched (by life expectancy, perhaps), pooled and so on and on. What could *possibly* go wrong? You know all the broke geezers are going for this. Why leave life insurance to the kids & the spouse, when you can spend it yourself?
Joe: Hey Fred, those life insurance policies we bought from the geezers, then tranched, well, we’re getting killed here because they aren’t dying when the actuary tables said they should.
Fred: Lemme make a few phone calls…
— Bob
