Does anyone know how this business model works? The company doesn't own the policies but is entitled to the death benefits less premiums and expenses paid by the owner? Who owns the policies and what's in it for them? Seems like a risky structure. Thoughts?
That is not what their SEC filings say. They have what they call a "NIB" but don't actually own the policy. It is a model I have not seen before and I want to understand the risks (ie - the party that does own the policy not paying premiums). I don't think this is a common model in the life settlement industry.