Life Settlements Evolution
Life Settlements' Progression & Emergence of Pivotal Life Capital
1911 - Grigsby v. Russell
The groundbreaking Grigsby v. Russell case (22 U.S. 149) recognized life insurance policies as private property. This pivotal judgment laid the groundwork for policies to be traded, sold, and bought as high-value assets, setting the stage for future life settlement options.
1980s - Emergence of Viatical Options
Starting in the late 1980s, life insurance options primarily revolved around viatical arrangements, involving policy sales by individuals facing terminal illnesses. Initially focused on cancer and HIV/AIDS patients, the scope expanded to encompass a wide range of health conditions by the mid-1990s.
2001 - Investor Interest Grows
The allure of life insurance options as an alternative investment attracted growing investor interest. By 2001, the once-nascent industry had captured the attention of major financial institutions, signaling its transition into a significant player.
2009 - Impact of Financial Crisis
The industry weathered the aftermath of the 2008 financial crisis. As major banks and financial institutions pulled back from non-core investments, the demand for life insurance options experienced a temporary decline.
2010 - Restoration of Funding Confidence
Around 2010, renewed confidence in funding injected fresh energy into the industry, prompting numerous life insurance buyers to expand their operational capacities.
2015 - Enhanced State Safeguards
U.S. states bolstered safeguards to bolster safety and legitimacy in the industry. Enhanced regulations and disclosure requirements were introduced to oversee life insurance options more effectively.
2023 - Birth of Pivotal
In 2023, a collective of seasoned financial and insurance professionals, boasting over two decades of industry experience, converged their expertise from diverse business sectors to found what has evolved into Pivotal. United by a shared vision, they aspired to democratize access to life insurance options, aiming to broaden accessibility for a wider range of individuals.
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Get in touch with us, and a member of our team specializing in life policy purchasing will reach out to you promptly. They will provide you with comprehensive step-by-step guidance to ensure you receive the highest possible value for your policy.