A Critique of GAO Life Settlement Survey Data

Abstract

Insurance Studies Institute (ISI) is pleased to publish the 8th volume of the Life Insurance Settlement Series: “A Critique of GAO Life Settlement Survey Data.”

The purpose of this paper is to evaluate and to put into perspective the survey data collected from the life insurance settlement market (“LISM”) by the Government Accountability Office (“GAO”). ISI’s analysis reveals that in a broad sense, the GAO survey data does support the belief that the LISM provides substantial value for those seniors fortunate enough to learn about it. However, several vital points of information are missing from the report, and the ever-changing nature of the industry has left many important issues unresolved – issues that are frustrating investors and materially hurting seniors who need liquidity now.