come crisis we can do better, we should be better. everyone is contributing each in our own way, but we also know that this crisis will not go on forever. the challenge is paid for the response has been massive. so many good people are helping us. it makes it feel very proud that we are together in ah me so my father, when i was a kid, he was raising us while going to college and working full time job and sometimes to

jobs. he knew how to be serious if the situation called for it, but most often he was just a goofy guy. i know in the background this whole time, he was stressed out in pain. you know, worried about his finances is even going to be able to make the mortgage bill he had that, that same humour. he never lost it even to the very in just financial situation. retirement age was dire, it was terrible. he had nothing he was diagnosed with stage 3, had a neck cancer, which is pretty vague, but it was canceled the tonsil stage 3 because it already spread to his lip. me this is done. shouldn't braiden's father like him? millions of americans, which were time and every year with almost no savings. i'm strangled by medical costs. me. america is a land of every man for himself,

connected pension system or universal health care. basic insurance for poet pension is covers almost nothing they have to pay out of their own pockets. this warrior phenomenon touches all of american society, and it's only getting worse as more baby boomers retirement. a new study reveals a jarring truth for baby boomers tonight, instead of retirement and relaxation, many are facing bankruptcy. what's happening today? we go? well, this is accelerating a long term trend that we've seen in the great recession, poor, even more fuel on that medical costs out of pocket expenses have gone up dramatically. and then we should also note that median household income wages in general have been stagnant for almost 3 decades. a drama, not for everyone. the financial well creates a mechanism that generates profit, even out of depression. it's known as the life settlement market.

the system involves buying a life insurance policy from hundreds of thousands of elderly and sick americans. once bought by brokers, the policies are bundled in life portfolios and transformed into financial products to be traded on the financial market. will sell directly to investors around the world, generating around $3000000000.00 a year from the usa to geneva and zurich. this is how the financial world has produced yet another path to every system profit. ah, ah. the girl, this is her. thanks. i mickey. wow. so i'm changing a lot here. ok,

dad's old house. now it's my house. i thought i make some changes. so this used to be my dad's house and then he left it to jordan and he did a lot of fixing up before he died to make sure that the grand babies had a nice, safe, clean. so he started doing research on, on what he could do, what were his options, how, how, how do people survive in this country when they don't have, you know, a money, it's basically or job and you're already over a retirement age. and i'm pretty sure that was one of the only options that is left is to sell your life insurance. i don't know what else he would have done. i didn't know that was an option at all. i'm sure he was. i don't think he knew it was an option either until he just started googling around. you know, once he found out it was an option. it was kind of a no brainer. mm. is what don't found off the searching life settlement on google ads from dozens of companies competing to

find retirees ready to sell their life insurance. mm hm. and how it works. life insurance is a form of savings through monthly premiums paid to the insurance is when the ensure the person does. the money is usually paid out to family members. with a life settlement, the unsure agrees to sell their life insurance to an investor in exchange for an immediate pay out. the investor then continues to pay the monthly premiums on the day of death, the bio pockets, the remaining insurance, pay out often making a significant game be want for the process to be profitable for the investor. the insured has to die as quickly as possible. the longer they live, the longer the investor has to keep paying and losing money. ah

ah, yeah, the millions of americans being plunged into poverty on retirement is one thing. but the life settlement industry needs to find the most desperate situations. people we can buy filters and strangled by medical costs, so that investors put their trust in specialists to study candidates, medical records to identify those with the shortest possible life expectancy. oh, you are in a way, trying to outsmart good. well, now we're that we can't do to do a good job at this. you need to have medical professionals who can evaluate medical records and distinguish the really severe from the less severe. mike soperano is one of the pioneers in estimating life expectancy for life settlements based in

washington. his company evaluates over $10000.00 files a year. you given estimation in terms of months, weeks, days. what's, what's typically months? yeah. months is, is the standard and the life expectancies can vary all, all over the chart. we get very complex cases of people with advanced cancer or with a l. s. or other severe impairments who can have life expectancies of 2 years. one year, less than one year, and then we get people who are relatively healthy and they can have life expectancies of 1215 and more years. those policies may not transact as often because the numbers don't work out as well . now did these more big

financial products appear to understand that we have to go back to the 1980s? the aids epidemic took the world by surprise and promote panic and misunderstanding . you can understand that is actually the was the, the west new plasma east gonzagos us up less space less you will surely be on the v . you see down us down the let the can you rush, they will matlab the goal some separately. does she want to be a thomas? i'm up or to sheila to tell you dated up cream. that's your answer. yes, i will give all members you guys will, isn't that media nash don't live on the on speak you lot. the less you want to be the c d. c built on p, chef. my portia, i've, yes, you will form. you don't get yourself initially. there was no cure and so the deaths happened as predicted. and then in 95, i believe it was when they came out with the cocktail. that

was the 1st of a series of drugs that extended life significantly. these funds that were created went under the but the miracle aid survivors, life policies didn't just disappear in the financial world. they were traded cheaply among new investors and eventually reached the banks of the limo. yes, the life insurance policies of those thousands of americans hit by the epidemic 25 years ago. now sit in new investment funds sold by a geneva company. ah, here's what we found in brochures promoting this backup investment. ah, one life settlement fund most of betting on the early deaths of 4532 elderly

americans, many of whom were h. i v carriers each month around 10 of them died, providing a consistent income of millions of dollars. the tactfully referred to as maturity dance tend to be more numerous in some of the heat waves. the total value of life insurance held by pensions is $434000000.00. we tried to meet a fund manager who places these products on the geneva market, but without success. we did catch up with him, but he wasn't very talkative. death traders are terribly afraid of the light. this is concept calling the journal. if i tried to contact you, i sent you an email recently about a home that we are even in background. we have some simple

questions, bank your for me. after that attempt failed, we finally received some explanation in an email from an anonymous ellis, a pension administrator. me. would you the specific monday best and the ash that's good, i'm sorry. did it does simple. i mean, it's about the cutest. it presented to send you a heads up as to what you want to publish. notice said the issue and i'm going to do the list and the life that i meant for somebody who brought it up or did you know the best thing to other claims and i'll see what this would jump i do. you have a life insurance policy you no longer want need or simply can't afford.

the same proposition is made to baby boomers. are you sick and pull but want a few more years to enjoy your retirement fell off your life insurance. if you can buy policies from people of lesser income, if you can buy $100000.00 policy from someone who's annual income is $50000.00 versus someone who's annual income is $250000.00. you'll do better in the $50000.00 universe. that's pretty clear. why would it be better? well, because their, their death rate will be higher because they are part because they're earning because they're earning less. there's a, there's a relationship between death rates and income that is actually fairly straight line.

the live in a try now where we received so many inputs on a daily basis that are completely related to reality. so think about how i social media filters and they basically present themselves in every unrealistic way. and so we come out of fomo, there is and be involved more than that. it's about being sort of envious of something that may not exist and is also really tied to the fact that is humans. we want to be part of the crowd. oh ok. we need to look at a little boy,

[000:00:00;00] the little girl and you made it because i don't want the cars the way you got me. sure. it's under which way it's not normal court is peace and she can listen. can you know and leave to the if you are age 65 or older, at least $250000.00 in life insurance and want to learn more about your options for a life settlement. go to l. i s market dot com and the proceeds can be used any

way you want for retirement income to pay medical bills. ah, that's exactly what don shawn was forced to do. at 65, he had nothing left. the meager savings that he wanted to leave to his children were in his life insurance. but terminally ill and with no income, he had no choice but to sell to the highest bidder. dad did leave me any documents related to the life settlement, but i did find his email account a conversation that he was having if you are off as the same as the others. why would i deal with you? i'm sure you understand. i have to get the most i can as the his basically on the living are for whatever time i have left, the other company came back and offered me a 150000. now, any chance you could meet that i might get them to match the $150000.00 for you and

pose much faster than the other group i hadn't heard from you. so i went ahead and got the other companies paperless notarized, the most people that task would be no big deal. but in my condition, that was what was going on. i was aware that somebody was making a lot of money out because insurance policy, me honestly, by my estimation, this policy will cost just $2.00 to $3000.00 in premiums. so it seemed to me 75 percent of the death benefit would be fair to me. still quite profitable for the buyer. as i said, the more i can get, the better things will be for me. so i'm definitely interested in the best price i can get. we can over $165000.00 for the policy. go ahead and send the new stuff in the end i don't signed and was paid within a week with the pension funds that bought his policy only had to wait a few years and made

a profit of around $50000.00. when dorm died in november 2019 michael friedman is a life settlement broker. we are a life settlement provider to means that we buy life insurance policies from primarily seniors throughout the united states who no longer want or can afford their life insurance policies. baby boomers are now 73 years old, which is around the age at which like settlements become more likely to, to work for the seniors as they get older. and they need assistance with, with activities of daily living as, as they're referred to bathing, dressing, transportation, eating. and they can't take care of themselves. and they need what's called long term care. then medicare doesn't cover that. so we have a retirement crisis in this country and we have a health care crisis for seniors in this country as well.

the do you think the situation would be the same in the us for this industry? with a strong universal health care, it would reduce the discrepancy in the life expectancy from poor to rich and provide less of a windfall if you will. if would be less profitable? well yeah, you could say less profitable. sure. and what we're seeing now with the silver su nami, of sr, is now turning $73.00, the baby, the 1st baby boomers. we see that there is a shortfall that we see that governments are facing increased costs in their

medicaid budget. so that baby boom generation is yes. what opportunity for the life settlement market, but it's it's, it's a private sector solution to providing funds and resources to the largest growing population in america today. oh, i me, the distressed felt saint paul american baby boomers dance all provides finances with an opportunity. but who like in the case of life insurance is of age sufferers in the 1980s. it's in switzerland that a large number of investors can be found with an interest in this particular bad. even more surprising. it's the retirees who have the most to win from this business of death. you may have

a pension that is based on swiss lives, but 20 years ago when the assumptions were set up for that performance of that, of the, of the lives that things have changed over 20 years. you, you swiss are living longer, people are living longer. there's more pension payments being made, investing in life settlements, i should say, is not so much just, it's not about investing on sick people and things like that. it's testing on a group of lives with an average life expectancy over 10 years that can cover that can match up that shortfall. that's it's good business for life insurance policy holders in this country who sell their policies. and then for the benefit of the, of the pension that may invest in that that was the exact calculation made by the city of zurich, pension fund. it's one of the country's most respected insurance companies that

manages pensions for more than 800000 former public servants. in 2017, its directors decided to invest 18000000 francs in life settlement year till down his head of investments. the zurich mentions homes in the life settlement and practice product for any insurance got instant cut in via from life settlement in with the children and a positive it ended up and does he seem to how it can avail niche meals i have sustained please. this is anthony cook and then in this is live in spot for your yet bowing. give just bizarre of if you get conquered hyper name caydan said saima how you fall on to the feel east. i'm right steve,

as if it see if this portfolio to salmon to buy one nice said finished p t fisher con kaiten this mullen v o. they will skirmish on the, on the nickel minute, indeed to to a t and the name was ivan, the john hancock. now me to capes. stadium. fear. i'm trying to get all the heights cost him to be silent ads. i label for visual forecast yesterday. la john shipped this dog hershawn. that's perfect for the pensions cashed him to death. does he sneak so v v and these invested tillman had gained as a via shower in east and laden city chunks police and was going to be an issue. so i've interviewed daily living quality rate and those

volunteers each on each lab. to summarize, thanks to excellent health care, switzerland is a country where retirees tends to live the longest to funds, the pensions 0 x public pension fund has to place bets on thousands of americans dying early because they can't pay for medical treatment. start to die in stock. as such, alas, disease is thus cash compatible. when to the politic in vegas act we are cow for decent, lighten heat if he could only police it up. d. c. screened and denise to me don't to to happen for cow from bolen for to mason

on town. sounds got kind of tune it was that i was to see so police and i think it's just a sad state of affairs that live sediments or even necessary for people because it all he needed it for was for survival. he wasn't trying to like, buy some crazy machine or do some kind of crazy treatments. he just needed money to survive on z field is going to be harrison. and he can, i mean he cannot sign a site this case i left younger his i placed this via pitying size on today for he shipped and i never indeed did meet did meet up on that is to be by your doctor on talk to you on the time it down to my master, don't home by the side. and then i look to see basically states in the american system might look like a nightmare. no one wants to be forced to sell their household life insurance to pay for chemotherapy in europe. that would be

a scandal. the news when it comes to paying for their pension as they don't hesitate to profit from this liberal american system. and the distress of causes, ah, yes, there's a group of people out there, i guess, hoping that people die soon. what kind of, what kind of motivation is i give them, you know, to invest their money in good things that help maybe help keep people live longer. they have no motivation to do that with their money now, because now they want people to die sooner because they profit off it. that's probably the thing i struggle with the most since he died as, as how unfair everything about. i mean, he never got a fair shake. the luck of retirement that he got to enjoy the pain he had to endure hidden deserve any of that. he was just kills me. that's usually what when i start crying about him dying,

that's usually what it's about. it's just the sheer unfairness of it all. ah, me selling her own dance to the highest bidder is above chosen by many elderly americans to pay for their retirements. ah, knowing that we are all seating this morbid machine, ah, the latest one, most of the most of the location of the unit 731 was

a unique organization in the history of the world. what they were trying to do was to simply do nothing short and build the most powerful and most deadly biological weapons program that the world had ever known. real to production. but it will show enough keel to build on it. so new living he'll keep on moved to new mazda thought. this is miss nunez, the more new and i got the sale. i wonder, i wish to know about jewelry. who knew, he didn't know i had a little cold and weather and all buddy bill, you know,

it's nice to do you want to share my new i isn't all 7 long, but you're not going to give us a try now where we use so many inputs on a daily basis that are completely related to reality. so think about how in social media filters and they basically present themselves in every unrealistic and so we come out of fomo where there is any involved more than that. it's about the sort of n b s or something may not exist. and it's also really tied to the fact that humans, we want to be part of the crowd as angle and merkle makes her exit from german politics. voters have made it clear

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in the the, the, the whole makers on pulling any punches as a grill, the american military top brass for 2nd day want something called aggressive cold. washington humiliating exit from us, kind of some extraordinary disaster. it will go down in history, is one of the greatest failures of american leaders. russia threatened to block youtube in the country after the video sharing platform, permanently deleted on things german language channels. as a us company would've acted without approval from $0.09 extra to the cost of it and stand off with serbia river road access school here from