Track-Life, LLC and Colva Insurance Services Announce Strategic Life Settlement Alignment

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Track-Life, LLC and Colva’s strategic alignment provides life settlement investors with maximum premium optimization and policy servicing value through joint life settlement expertise.

Track-Life and Colva Insurance Services have announced a strategic cooperation aimed at providing life settlement investors the maximum value and return on their life settlement investments by leveraging the two leading companies’ respective strengths. While both parties will still operate their services independently of each other, joint servicing deals between the two will involve Track-Life handling policy servicing aspects of the transaction while Colva focuses on premium optimization, structuring, and actuarial and financial analysis of the investment.

Life settlement servicing companies perform necessary services for life settlement investors such as tracking and updating the health status of the insured, verifying premium payments, and collecting death benefits when received. Many policy owners are trapped in servicing contracts under which their servicing company charges a percentage fee of the death benefit or large annual per policy fees for performing such services. This means that investors with higher face amount policies often end up paying significantly more for the same services as investors with smaller policies. In contrast, Track-Life’s service charges are dependent only on the specific work performed allowing clients to realize significant value by saving on excessive fees.

Colva, which on October 16th announced its Actuarial Pricing Models and related service offerings, shares a similar philosophy regarding earning fees by providing unparalleled value.

“Track-Life is extremely pleased to align itself with a like-minded organization such as Colva that ensures that clients receive the maximum value from their services,” said Brian J. Barclay, President of Track-Life. “Colva’s strong technical and actuarial background in how these policies are priced and designed, as well as in how to properly structure certain features and secondary guarantees for life settlement investors, allows them to save investors potentially millions of dollars in premium payments. The commercially available software models simply are not equipped to unlock the potential of certain policies, and very few in the industry have the ability to extract as much value for investors as Colva.”

Principal and Chief Actuary of Colva, Rajiv Rebello concurred with Barclay’s assessment on the mutually beneficial value of the partnership.

“This alignment comes at an opportune time for Colva,” exclaimed Rebello. “By aligning ourselves with an established policy service provider, Colva can concentrate more of its efforts on delivering premium savings that many investors may not even know exist. While Colva focuses on its burgeoning efforts to offer solutions which maximize investment value by properly structuring these investments for clients through sophisticated premium optimization and by exploiting other insurance product features, Track-Life’s core competency is providing proven, reliable policy servicing.”

ABOUT TRACK-LIFE
With roots in the life settlement industry that date back more than 20 years, Track-Life’s experienced team of financial and medical professionals manage all aspects of life settlement policy tracking and servicing. Executives at Track-Life have serviced billions of dollars in life insurance policies and managed hundreds of death claims.

ABOUT COLVA
Colva (http://colvaservices.com) is a life insurance and life settlement servicing company that helps clients obtain the maximum value from their life insurance investments. It was founded by Rajiv Rebello who previously managed the reengineering unit of Chartis’ $4 billion life settlement portfolio. Prior to Chartis, Rebello worked as an actuary on pricing teams at New York Life that designed UL and VUL products.

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Jason Bokina

Rajiv Rebello
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