Life Settlement Services
Christiana Trust has built a worldwide reputation for administering
and servicing Life Settlement and Premium Financing transactions.
A few of the many services we provide include:
- Trustee and/or Escrow Agent;
- Policy monitoring and maintenance;
- Managing change of beneficial interests;
- Maintenance of collateral files on our collateral tracking system;
- Management of death benefit transactions;
- Acceptance and deposit of collateral into the
Christiana Trust vault.
Our client base includes financing entities, hedge funds and life settlement brokers and providers. Christiana Trust offers a comprehensive list of life settlement services.
Our trust professionals have proven themselves and have demonstrated the expertise to handle complex life settlement transactions. Whether you are a local, regional, national or international financing entity or life settlement broker and provider, we deliver the specialized service and expertise in a single place to facilitate and implement your life settlement transaction.
Trustee Services and Functions
- Christiana Trust will completely administer and maintain trust accounts;
- Execute funding notices as directed;
- Verify accounts are properly funded according to the underlying documents;
- Transfer funds between trust accounts as directed in writing;
- Provide notices to proper parties as directed;
- Reflect on our trust system collateral held for each party;
- Hold all payments for the benefit of the parties involved;
- Verify and maintain security interests in the trust account, as needed;
- Confirm payments are received by the proper insurance company;
- Receive policy dividends, death benefit proceeds and other distributions from an
- Work with appropriate Servicing Agent to file death benefit claims;
- Maintain a strong working relationship with legal counsel and insurer as to direction on release of liens, death benefit claims, disputes regarding beneficiaries, collateral interests in policies, dividend collection and all other distributions from a policy.
Collateral Agent Services
- Provide notices as requested and directed;
- Monthly monitoring to ensure that no payment defaults have occurred;
- Send assignments for insurance policies to Life Insurer as directed;
- Receive verification of receipt of assignment from Life Insurer;
- Monitor assignments for acknowledgements from the Life Insurer.
Securities Intermediary Services
- Submitting change of ownership forms;
- Establish security interest in accounts as directed;
- Receive acknowledgement of change of ownership;
- Maintain covenant items required of the Intermediary;
- Remit notices to various parties as directed;
- Maintain all payments for the benefit of the appropriate party;
- Mail and forward notices on to appropriate party as directed and requested;
- Establish Intermediary Accounts for the Purchaser, and each Provider;
- Reflect on our records and books the change of ownership by transferring
ownership between the corresponding Intermediary Accounts.
- Make life insurance premium payments;
- Analyze specific information regarding the Life Insurer including credit ratings;
- Maintain and create database of Insured and Life Insurer information;
- Track specific information regarding the Insured including premium payment;
- Complete death benefit forms;
- Prepare and send periodic reports;
- Remit any required notices.
- Maintain the record of the collateral files on our collateral tracking system;
- Hold the collateral files in custody in our secured vault facility;
- Prepare and distribute monthly collateral reports.
Trailing Document Filing
- Certify and review trailing documents;
- Accept the trailing documents into the appropriate collateral file in the Christiana Trust vault facility;
- Monitor the trailing document on our collateral tracking system.
Escrow Agent Services
- Christiana Trust can serve as Escrow Agent to facilitate and accept the purchase of life insurance policies, if required.
- Monitor collateral file releases on our collateral tracking system;
- Release collateral files from the vault.
- Update the collateral by certification criteria on our tracking system;
- Certify and review the collateral per the transaction documents;
- Accept and deposit the collateral into the Christiana Trust vault facility;
- Distribute and prepare the initial trust receipt.
Delaware Trust Services
- Christiana Trust, with offices located in Wilmington, Delaware serves as Delaware Trustee for Delaware Statutory Trusts.