with the staff of the bullet in large plumes of gray smoke billowing over the german city, stood guard after around 10 buses park at a terminal caught fire, emergency helicopters and rescue workers have been deployed to the scene to the place where the tires have exploded. as they burn, the reason for the incident at this stage is still unclear when we learn more, we'll let you know up next on outside the dodgy market in getting people to cash in their life insurance accused of praying on the sickest and american society. oh, the join me every thursday and the alex summon show and i'll be speaking to guess in the world, the politics sport. business. i'm show business. i'll see you then me this is your media a reflection of reality in

a world transformed what will make you feel safe for tyson lation community? are you going the right way or are you being that somewhere? direct? what is true? what is faith? in the world corrupted, you need to disband the so join us in the depths will remain in the shallows. ah mm mm ah,

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, 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 head and that cancer, which is pretty vague, but it was cancelled at the council stage 3 because of 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, collective pension system, or universal health care. basic insurance for poet pension as covers almost nothing they have to pay out of their own pockets. this warrior phenomenon touches all of american society and is 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 world creates a mechanism that generates profit,

even out of depression. it's known as the life settlement market. the system involves buying life insurance policies 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. also 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 will profit. ah, ah,

girl, this is her. thanks. i mickey. wow . so i'm changing a lot here. ok, dad. gold 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 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. well, 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 done 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. how it works. life insurance is a form of savings through monthly premiums pay to the insurance. when the insured person does the money is usually paid out to a family members with a life settlement, the unsure agrees to sales and life insurance to an investor in exchange for an immediate pay out the investor and continues to pay the monthly premiums on the day of death, the bio pockets, the remaining insurance pay out often making a significant again but be warned for the process to be profitable for the investor, the insured has to die as quickly as possible. the longer they live

longer, the investor has to keep paying and losing money. ah ah yeah. oh, americans being plunged into poverty on retirement is one thing. but a life settlement industry needs to find the most desperate situations. people weaken by fairness and strangled by medical costs for 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, no. we're that we can't do to do a good at this. you need to have medical professionals who can evaluate medical

records and distinguish the really severe from the less severe mike. the sono 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 ls 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 mobile financial products appear to understand that we have to go back to the 1980s? demick took the world by surprise and promote panic and misunderstanding. you cut the unit is actually was fits of west new plasma. goes us up. less speak to less, you will surely be on the mail as you see down us down the now let the can you rush, they will matlab the going to go some dollars separately. does she want to be a thomas? i'm up or to sheila to tell you that that's your answer. yes, i will give you guys will, isn't that media much? don't vomit on speak you lot. the less your v c d. i say both chef 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 with a miracle aid survivor's 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. 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 makeup investment. ah, one like settlement fund, most of betting on the early deaths of 4532 elderly americans. many of us are 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 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 was very talkative, desperate as our parentally afraid of the light by the visits costs up. according

to john, if i tried to contact you, i sent you an email recently about a home that are in background. we have some simple questions. thank you 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 elementary? did it a simple 10 minutes about the cutest it presented. baker. send you a heads up or press you what you want public notice said the issue, and i'm also going to mediate and if you do that, then the life that meant that somebody brought it up on the other claims and i'll see what it says with jump when

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. i use 2nd pull, but want a few more years to enjoy your retirement sell off your life insurance. if you can buy policies from people of lesser income, if you can buy a $100000.00 policy from someone who's annual income is $50000.00 versus someone who is annual income is 250000 dollars. 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 well 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. ah, me who makes no certainly no borders to nationalities as emerged. we don't have authority. we don't actually, the whole world needs to take action and be ready. not a joke. people judge, you know, come crisis, we can do better, we should be better. everyone is contributing each of their own way. but we also know that this crisis will not go on forever. the challenges to response has been massive. so many good people are helping us. it makes us feel very proud that we

need together in so what we've got to do is identify the threats that we have. it's crazy plantation, let it be an arms race is on often very dramatic development. only personally, i'm going to resist. i don't see how that strategy will be successful, a very critical time, time to sit down and talk a try now where we received so many inputs on a daily basis that are completely related to reality. so think about how and social media filters, and they basically were present themselves in a very unrealistic way. and so we come out of fomo, there is and be involved more than that. it's about the sort of envious or

something. it may not exist. and it's also really tied to the fact that as humans, we want to be part of the crowd. if you are age 65 or older, have 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 donnie sloane 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, and leave me any documents related to the life settlement. but i did find his email

account a conversation that he was having if you're 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 is that his basically all i'll be living for whatever i might 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 for most people that test would be no big deal. but in my condition, it was he knew what was going on. i was aware that somebody was making a lot of money because insurance policy 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 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 50 $1000.00. when don died in november 2019 michael friedman is a life settlement broker. we are a life settlement provider, 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, 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 them house 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, that 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, an oppertunity 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 distress fell sick and poor american baby,

but the most death will provide financing with an opportunity. but who like in the case of life insurance is of age suffer isn't the 1900 eighty's. it's in switzerland that a large number of investors can be found with an interest in this particular bad. even more surprising if 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 live 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 is 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 if 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. ringback 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 manage his pensions for more than 800000 former public servants. in 2017, its directors decided to invest 18000000 francs in life settlement to be on his head of investments. the zurich mentions homes in the life settlement and practice product, ferny insurance. got a stance coming via from life settlement invested. tillman. i'm positive. it ended up and does he seem to how it can avail, knish meals and sustain, please stay on the line and get him to kind in this is live in spot

for your does he get bowan or give this was under her wish to get conquered? hy, name caydan said saima high, you fall into the seal east, i'm but i have as if it see if this portfolio 2000 to one on nice to nice. pretty fish cronkite the small and v o. they will skirmish on these on the need to go minor indeed to to a t and the name in live in the john who s hands now made capes. stadium fear. i'm trying to get the heights cost him to be silent ads. i live in front of visual own forecast. yesterday. la john shipped this dog

hershawn. that's perfect for the pensions cashed him to death. does he sneezed so be on this invested tillman had gained a via shower near the end and laden susie chunks police and vanished. so i've interviewed daily living quality rate and those volunteers, he needs to summarize, thanks to an excellent health care. switzerland is a country where retirees tend to live the longest to funds, their pensions. xerox public pension fund has to place bets on thousands of americans dying early because they can't pay for medical treatment. starting to cotton stock as such. alice, this is dusty cash compatible

with the politic in vegas act vs cow fin decent light. and he had a for the kiddos police up d. c. i was screened and denise me don't to, to happen for cow from bolen or to mason on town called god kind of tune. it was that i was to my house this of police. i think it's just a sad state of affairs that, that life sediments are 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 those buildings in the hudson. he cannot, i mean, he cannot, does he sign a site? they basically saved younger his i placed this via pitting size

on today for the shift and i never indeed did meet up on thirties to be by year round talk to on the time it down to my master. don't home buy decide. 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 i use when it comes to paying for their pension as they don't hesitate to profit from this liberal american system. and the distress at causes, ah, yeah, 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. me selling her own desk 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,

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