The business of selling a life insurance policy when it is no longer needed is poised to become a very large industry--particularly as retirees seek to tap into all types of assets for sources of income.
According to a recent New York Times article, the life settlement industry could grow to as much as $500 billion.
While this figure represents a small portion of the $26 trillion in life insurance outstanding, securitization of life settlements could prove to be a meaningful source of growth for Wall Street.
Source: New York Times
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