Life insurance cash-outs rise

02/18/2013 | Pittsburgh Tribune-Review

More seniors are converting life insurance policies to cash via life settlements, a practice that some regulators and life insurance trade groups warn could harm seniors. Investors who buy the policies say they can be lucrative, and some say the move can be good for seniors as well. "This is a good investment for people who don't need the insurance or can't afford the premiums," insurance broker Howard Stern says.

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