Pacific West Capital Group, Inc. (PWCG) is a California corporation that facilitates the sale of interests in life settlements.
According to the SEC1, a "life settlement is a transaction in which an individual with a life insurance policy sells that policy to another person, who then assumes responsibility for paying the premiums. Typically, the seller no longer wants the policy or can no longer afford to pay the premiums. In exchange, the insured party typically receives a lump sum payment that exceeds the policy's cash surrender value, but is less than the expected payout in the event of death."
Why would a policy owner wish to sell a life insurance policy2?
Due to changed family or other circumstances, a life insurance policy owner may no longer need the insurance provided by the policy. A spouse may have died, children may have grown up, or a company with life insurance on a key officer may have been sold or gone out of business. Other policy owners may have difficulty making premium payments or simply need cash. In such circumstances, many policy owners surrender their policies or let their policies lapse by ceasing to make premium payments. Selling a policy to an investor may be another alternative. Such sales may be made through life settlement brokers who charge commissions.
SEC Warning2: Under certain circumstances, the investor may not receive the death benefit. For example
Note 1: SEC Releases Report of the Life Settlements Task ForcePacific West Capital Group, Inc. Contact Information
Note 2: SEC Investor Bulletin on Life SettlementsNew
==> CD Rates at Largest US Banks <==
Article: Beware of Annuities
Best CD Rates Meter
advertise on this page, please