Brian Barclay Joins The Lifeline Program as Director of Funding Operations.Business Editors FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--March 15, 2004 Life settlement industry veteran Brian Barclay has joined The Lifeline Program(R), a life insurance policy settlement company, as its director of funding operations. Life settlements enable individuals, typically seniors or the terminally ill Terminally Ill When a person is not expected to live more than 12 months. Notes: Any gifts given out by the afflicted person at this time may be considered as a dispersion of the estate rather than a gift. , to sell existing life insurance policies for cash. In this position, Barclay will be responsible for the day-to-day operations of the funding department and will work closely with the company's marketing managers in Latin America, Asia and Europe. He also will serve as the anti-money laundering compliance officer. A life settlement is the sale of an existing life insurance policy (for more than the current cash surrender value The amount of money that an insurance company pays the insured upon cancellation of a life insurance policy before death and which is a specific figure assigned to the policy at that particular time, reduced by a charge for administrative expenses. ) by an elderly or terminally ill policyholder. A settlement is a unique alternative to surrendering a policy or letting it lapse and can be offered on term, whole or universal life policies. Barclay has more than six years of experience managing back-office and customer service operations in the life settlement industry. He also holds a Florida, Life, Health and Variable Annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. License. Wm. Page & Associates, Inc., based in Fort Lauderdale, Fla., buys life insurance policies through the Lifeline Program business unit. Founded in 1989, the company has pioneered life settlement and viatical vi·at·i·cal adj. 1. or vi·at·ic Of or relating to traveling, a road, or a way. 2. Of or relating to a contractual arrangement in which a business buys life insurance policies from terminally ill patients for a percentage business processes and promoted intelligent industry regulation. The Lifeline Program also was the first viatical company licensed by the Florida Department of Insurance in 1997 and the first to file an Anti-Fraud Plan in 1999. For more information on life settlements, contact Judy Cox of the Lifeline Program at 800-252-5282, by e-mail at jcox@thelifeline.com or visit http://www.thelifeline.com. Editor's Note: Barclay resides in Delray Beach. JPEG JPEG in full Joint Photographic Experts Group Standard computer file format for storing graphic images in a compressed form for general use. JPEG images are compressed using a mathematical algorithm. photo available. |
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