Research On The Legal System Of The Life Settlement

The insurance industry in the United States is well developed, the life settlementbusiness appeared in the1980s in the United States, China has yet to open the LifeSettlements market, but the demands of the Life Settlements was there. This paperintroduces the transactions and processes and legal system about the Life Settlements,based on the experiences of the United States, China’s current legal system, the practicalneeds of our country to build our legal system of the Life Settlements.The paper is divided into three parts:introduction, body and conclusion.The first Chapter is a overview about the Life Settlements and its trading.It tells theconcept, characteristics, operation modes and the related insurance behaviors about theLife Settlements, aimed at rendering a general picture of the basic knowledge of the LifeSettlements.The second chapter presents the evaluations of the legal system on the LifeSettlements of the United States, the relevant provisions of Insurance contract law,federal legislation and states legislations of the Life Settlements, the tax system of LifeSettlements transactions, the author analysised the regulatory regime of the LifeSettlements in the United States.The third chapter is about building our Life Settlements legal system, analysisingthe need of the Life Settlements, coordinating the Life Settlements system with ourcurrent method, developing the assets securitization transactions and putting forwardsome proposals of tax system.The paper selected the United States as the only introduction and reference country,the most important reason is the United States is the birthplace of Life Settlements, after30years of development, the operation of the system and the legal system is alreadyquite mature enough to meet the needs of exploring Life Settlements legal system.