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Old 04-20-2015, 01:15 PM   #41
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Originally Posted by Big_Hitter View Post
it's called reinsurance
Reinsurance is when a company wants to "share the risk". They then take out a policy on the policy they sold that may limit their losses...If they write $1 million and only want to risk paying $200k, they'll buy another policy from the likes of AIG or Travelers for the $800k additional. If you die, they only pay $200k...

I was talking of a company (or individual) who buys policies from individuals, continue to pay for the policy vs. you, and profiting if they kick the bucket...

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Old 04-20-2015, 02:22 PM   #42
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Surewhiety, I think Big_Hitter is an actuary so there is no need to explain what reinsurance is to him. But I suspect he is a pension actuary, and life/viatical settlements such as you described were new to him. Just an educated guess on my part.

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