Blog
LISA Champions Industry: Files Amicus Brief in Key Ameritas Case
LISA recently filed an amicus brief in the Ameritas case currently before the Ninth Circuit Court of Appeals in California. LISA prepared its brief in follow up to one submitted by the American Council of Life Insurers (ACLI) which claimed that policy conversions by investors could harm consumers—claims LISA believes are unfounded.
On one side, the ACLI argues that allowing investors to convert policies through the secondary market could reduce insurers' profits and affect their business strategies, which they claim may ultimately harm consumers. LISA maintains that such concerns are not aligned with consumer welfare.
LISA, in turn, emphasized that converting a term life policy to a permanent one is a standard, well-established practice recognized by existing law, and does not create a new insurance contract but rather extends a pre-existing one. “LISA respectfully urges this Court to consider the disruptive effects that Appellant's theory could have on established markets, existing practices, and state regulatory schemes,” LISA argued in the filing.
By submitting this brief, LISA is advocating for legal clarity and reinforcing its commitment to protecting consumer interests and upholding high standards in the life settlement industry.
LISA's participation in this important case underscores the value LISA brings as a leader and voice for the industry and its stakeholders. Thank you to our members for supporting efforts that protect a safe, transparent, and consumer-friendly market for life settlements.
On one side, the ACLI argues that allowing investors to convert policies through the secondary market could reduce insurers' profits and affect their business strategies, which they claim may ultimately harm consumers. LISA maintains that such concerns are not aligned with consumer welfare.
LISA, in turn, emphasized that converting a term life policy to a permanent one is a standard, well-established practice recognized by existing law, and does not create a new insurance contract but rather extends a pre-existing one. “LISA respectfully urges this Court to consider the disruptive effects that Appellant's theory could have on established markets, existing practices, and state regulatory schemes,” LISA argued in the filing.
By submitting this brief, LISA is advocating for legal clarity and reinforcing its commitment to protecting consumer interests and upholding high standards in the life settlement industry.
LISA's participation in this important case underscores the value LISA brings as a leader and voice for the industry and its stakeholders. Thank you to our members for supporting efforts that protect a safe, transparent, and consumer-friendly market for life settlements.