The Florida Department of Insurance Works with Mutual Benefits Corporation, the Nation's Leading Viatical Company, to Increase Consumer Protection in Viatical Transactions

November 29, 1999 Ft. Lauderdale, FL -- Mutual Benefits Corporation, one of the largest viatical settlement companies, has been working directly with the Florida Department of Insurance to help enact new laws and regulations to increase protection for sellers and purchasers of life insurance policies in viatical settlement transactions. Florida is one of the first states in the country to enact laws which require that viatical companies have a license to conduct business, and now, with the Viatical Association of America's (VAA) support, is the first to require that sales agents who raise funds for the purchase of viatical policies have a life insurance license and provide key information to purchasers before a transaction is complete. Mutual Benefits has and will continue to endorse such legislation to help establish standards in the growing viatical industry. The Florida Department of Insurance has worked with Mutual Benefits and other members of the VAA as a valuable source of information and for an insiders look at the viatical industry. They have helped shed light and provide solutions for the problems the industry faces.

As one of the largest viatical settlement companies in the country, Mutual Benefits Corporation, has helped thousands of terminally ill by offering a program that provides a practical solution for financial hardship. Established in 1994, MBC funds only non-contestable policies and is licensed in more states than any other viatical company that funds policies through individual investors. A viatical settlement involves the purchase of a life insurance policy that insures a person who is terminally ill. Many of the people who are interested in viatical settlements are those afflicted with a terminal illness such as AIDS, cancer, leukemia, heart disease, ALS, Parkinson's and others. Often, the terminally ill utilize the money to provide upgraded medical care or to help fund a more comfortable lifestyle. Scores of testimonials from grateful insureds cover the walls at the company's office.

Mutual Benefits Corporation's carefully structured program has been designed to provide for the physical and emotional needs of the terminally ill individual. Adds Mutual Benefits Corporation's Vice President Steiner, "We have set up an infrastructure to track the progress of our clients, and we offer a host of services to help enhance the quality of their lives."

Mutual Benefits Corporation is an active member of the Viatical Association of America and year after year has donated thousands of dollars to such charitable organizations as CenterOne, The National Association of People with AIDS, The Boys and Girls Club of Broward County, The United Foundation for AIDS, The Muscular Dystrophy Association, The March of Dimes, The AIDS Memorial Quilt, AmFAR, The Children's Diagnostic and Treatment Center, Cure AIDS Now, and so many others. MBC's Vice President Steven Steiner is a frequent guest speaker on AIDS Awareness and Education at area organizations and schools.

For further information or to request an interview with a representative from Mutual Benefits Corporation, please contact Kim Morgan at (954) 525-8885.

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