by america. oh, nazi. join me every thursday on the alex salmon? sure. i'll be speaking to guess what the world politics sport business. i'm show business. i'll see you then. ah a 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 him, 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 still. he had that, that same humor. he never lost it even to the very end. mm hm. financial situation at retirement age was dire, it was terrible. he had nothing. he was diagnosed with stage 3, head and neck cancer, which is pretty vague, but it was cancer of the tonsil. stage 3 because it had already spread to his live . this is done, shunt braiden's father, like him, millions of americans which were time and every year with almost no savings and strangled by medical cost. me. america is a land of every man for himself, no collective pension system, all universal healthcare, basic and children's for paul pension. as covers almost nothing they have to pay out of their own pockets. this worrying phenomenon touches all of american society

. it is only getting worse as more baby boomers retirement. a new study reveals a jarring truth for baby boomers to night, instead of retirement and relaxation. many are facing bankruptcy. what's happening to baby? boom. well this is accelerating a long term trend that we've seen and the great re, and course 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 in the financial world, korea to mechanism that generates profit, even out of depression. it's known as the life settlement market. the system involves buying a 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. who sold 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 irresistible profit. ah well, this is her thanks to come over to the caea. i mickey, wow, some change in a lot here. okay. 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 a 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 and i 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 to sell your life insurance. well no. what else he would have done? i didn't know that was an option at all and i'm sure he was. i don't think he knew it was an option either until he'd just started googling around. you know, was he found out it was an option. it was kind of a no brainer. is what done found after searching life settlement on google ads from dozens of companies competing to find retirees ready to sell their life insurance. mm hm. yes. how it works. life insurance is a form,

a savings through monthly premiums pay to the ensure, and when the insured person dies, the money is usually paid out to family members to with a life settlement the insure degrees to sell their life insurance to an investor in exchange for an immediate buyout, the investor then continues to pay the monthly premiums on the day of death, the bio pockets, the remaining insurance payout often making a significant gain. but be warned, for the prose has 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 me, 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 weakened by illness 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 god. well now it, we're, we're that we can't do to do a good of at this. you need to have medical professionals who can evaluate medical records and distinguish the really severe from the last severe mike for santa 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, what, 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 last 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 bit financial products appear to understand that we have to go back to the 1980s?

the aids epidemic took the well by surprise and provoked panic and misunderstanding . oh, you are deeply touchy feely for this unit is actually was sleep. the was seen the down you plasma, some of the skull vogels, usaa less speed you less, you will surely be on the ve the melody. you see down for stamina let the can rush, they will mail out. there won't be no go. some 1000 separate. he does, you want to be a i thought of us. i'm hopeful to sheila. totally dated up him. that's yontsa. yeah . michael gave remember you guys will, isn't that media on ash don't boulevard. i speak you like the less yours vanessia, tabletop or chef l m. i, portia, i've, yes, gene will foam, you know, get, guess. initially there was no cure and so the deaths happened as predicted. and then in 95, i believe it was. so 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 a when i, with the 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. as the life insurance policies of those thousands of americans hit by the epidemic 25 years ago. now it in new investment funds sold by a geneva company. ah, here's what we found in brochures promoting this mockup investment one life settlement fund boasts of betting on the early deaths of 4532 elderly americans. many of whom are h. i v carriers each month around 10 of them die, providing

a consistent income of millions of dollars. tactfully referred to as maturity deaths tend to be more numerous in summer 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 desk. traders are apparently afraid of the light. this is possibly the according to journalists, a week i tried to contact you. i sent you an email recently as called about a house that are in the real, even in back ground. we have some simple questions bank. after that attempt failed, we finally received some explanation in an email from an anonymous ellis,

a pension administrator which is a specific multi person. that's part of the yes, that's good. i'm sorry. did it assume contaminate? articulate latin to littleton at present vegas? educated up a classroom where you are pub, him, a model, not a said to by issue and i multiply custom you yet until you do that for me. if you just and the life that than meant this little bill stop level did of near depressing. so they put in financing the salty switch and plan also has bills of ah, 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 paul that want a few more years to enjoy your retirement? sell us 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'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. that because they are part of course their 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, for is your media reflection of reality

in the world transformed what will make you feel safe? isolation for community. are you going the right way or are you being that somewhere? direct? what is true? what is great? in the world corrupted, you need to descend a join us in the depths or remain in the shallows. jamie diamond was critical acclaim starting when it was a $200.00 a coin. it's now around $45000.00 coin is adding as he points out. 10 x from here, so he's looking for up to 450 to 5, and that's

a coin a with, with ah, yes ma'am. hello, county mayor. i hardly toyota the shirts under which way a couple of minutes in the knob, normal quote is researchable. come this is denise not leave. sure, i talk with you

. 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 don shlang 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 accounts for a conversation that he was having if you're of 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 this is basically all i'll be living off 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 close, much faster than the other group i hadn't heard from you. so i went ahead and got the other companies paperwork notarized. for most people that task would be no big deal, but in my initially it was, ah, he knew it was going on, but dad was aware that somebody was making a lot of money off of his 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 and still quite profitable for the buyer. as i said, the more i can get, the better things will be for me. so i am definitely interested in the best price i

can get. we can over a $165000.00 for the policy, go ahead and send the new stuff in the end, don signed and was paid within a week. the pension funds that thought his policy only had to wait a few years and made a profit of around $50000.00. when don died in november 2019 michael friedman is a life settlement broker. we are a life settlement provider, which means that we buy life insurance policies from primarily seniors throughout the united states who are no longer want or cant afford their life insurance policies. baby boomers are now 73 years old, which is around the, the, the age at which likes elements 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. ah, with do you think the situation would be for the same in the us for this industry? with a strong universal healthcare. it would reduce the discrepancy in the life expectancy from poor to rich and provide less of a,

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 seniors. 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 budgets. so that baby boom generation is yes, an 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. ah, for the distress felt by seconds, poor american baby boomers therefore, provides finances with an opportunity. but who are they?

like in the case of life, insurances of aids sufferers in the 1980s. it's in switzerland that a large number of investors can be found with an interest in this particular that 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 is not about investing on sick people and, and things like that. it's testing on a group of lives with an average life expectancy over 10 years that can cover they can match up that shortfall that it's good business for life insurance policy holders in this country who sell their policies. and then for the benefit of the in

the of the pension that may invest in that oh. 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 18000 former public servants. in 2017, its directors decided to invest 80000000 francs in life settlements. yoke till blood is head of investments for zurich, mentions von vin, diesel life set and sign act even product. fully insurance gas the ale stance kernan via from life settlement invested soon. and i'm a positive indeed, there often does he seem to hide? dickon availed glider niche. milsap's was faintly as he stay southeast v stick only of anthony fiancee unto conan in jesus live and spot for yoga. he gets bowan. i

give just bizarre ervish to get conklin high 9 k answered alzheimer high, you fall on to seal east. i'm but i diverse if it's he at this portfolio, 2002 by one on ne, visits in need of pity. he should cronkite from the small, in viet out bevells girlish on this afghan. these need to go. mine have indeed did to a t and van m. m dragon's jo john ein or s hands now? mid capes. stadium fear am. i'm giant gazelle heights. ghost little bit silent, ad zane levens fellows ishall. fuck golfed ye shanella. jonah shipped this. don't go far. that's 4 feet deep and chance cashed him to death. darcy

sneezed so vivid on these invested children had on k another via the shower near the iron curtain. laden's was, he should hunks police unarmed violent, vanished. so our interview de la laban quality read them, thus, volunteers each on each law hung. to summarize, thanks to an excellent health care, switzerland as a country where retirees tend to live the longest to fund their pensions. xerox public pension fund has to place bets on thousands of americans dying early, because they can't pay for medical treatment each to a cotton stockers such alice, give heathen is thus he achish. compatible weight is a bully tick. in vicky's oct. we're cow

fund decent light and he had a 40 chunks, police set up dc i was screened and denise me don't to call happen for cow from viola for commission on townsend's guard. kiner opportune. it was the house to my analysis of police, sir. ha, 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 treatment. he just needed money to survive on those yield and zayden z hyphen t as i'm he cannot. i mean he does, he sign a sight um this key shifts down to this. i placed this via seeing slicing on today for c chilton. i have in d, did i meet, etc,

and on to cease to be by yet that on talk soon, did i meet the nama market? thrones are still hm by the site. and then i look at this see basic estate seen by 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 with when it comes to paying for the pensioners. they don't hesitate to profit from this liberal american system. and the distress that causes a group of people out there, i guess, hoping that people die soon. one 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 emotions he died as, as, as how unfair everything about. i mean, he never got a fair shake, the lack of retirement that he got to enjoy the pain he had to endure. didn't deserve any of that. he was just, it 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. mm hm. selling their own dance to the highest bidder is chosen by many elderly americans to paying for their retirement, or without ever knowing that we're all feeding this machine. ah ah

ah well a a ah with ah lose you no one? no, sir, no, not a joke. no, no, well door, more shrill than what they should end up unit 731 was

a unique organization in the history of the world. what they were trying to do was to simply do nothing short, then build the most powerful and most deadly biological weapons program that the world had ever. no real. oh, you know, to push that issue or shoot a enough fuel to when you saw new quarter. she'll keep on more more general manager thought this is meant nguyen from all one of our funding and i got the lamb sale. i got ya. i got on monday, i wish to know about joy, whole new i know you didn't oh gosh, more or less than a jr. let's i had to put all the sco their mother on all everybody bill. can you

come up hours? nice. oh boy festival. to go on what the on this the world. she my a new other i'm all i can send more on. all said mom, good student. i don't a year you're in love. i'm all for them. i don't think give us a little you should expect to be of non government b a c, and i'm sorry, this is a wrong expectation be you will have to see. that is non, you want me to go with the other because you got to impose the estimate democratic system on both on sunday plans. he was and didn't go to order

with the wall of shame that graffiti spells out. that's how some in paris come to view this. a parish suburb is up in arms over the construction of a wall designed in theory to keep drug addicts out saying it is in humane and in practice. only makes matters worse. canadian military chiefs saw the pandemic as a chance to test propaganda on citizens, according to a troubling army report and us senators, a roast facebook after leach internal research suggests the company's instagram platform could harm childrens wellbeing.