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Anthem Management launches Beacon Life Funds

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Venture firm Anthem Management has launched Beacon Life Funds following it’s acquisition of a significant stake in Life Insurance Buyers, a life settlement financial services business based in Kansas.

Life Insurance Buyers, Inc. has provided terminally ill patients with guidance on the brokerage of viatical and life settlements since 1995. Viatical settlements involve the sale for cash of an existing life insurance policy for terminally or chronically ill individuals at a discount from its face value. Life Insurance Buyers, Inc. built a reputation by helping clients during difficult times and Beacon Life Funds will continue that tradition.
 
The market for the sale of life insurance policies showed 20 per cent growth in 2013 and is predicted to continue for the foreseeable future according to a recent Bloomberg Business Week article. Despite promising industry growth, consumer awareness of this financial alternative is low, in spite of a 1911 US Supreme Court declaration that life insurance is considered to be personal property, able to be sold by the policy holder like any other asset.
 
Anthem will leverage multiple capabilities within its marketing and technology venture portfolio to address this awareness deficit with an extensive campaign that will include videos, webinars, print publications and educational white papers concerning viatical and life settlements. Anthem has tapped its technology and insights venture, Kinetic Supply Company, to employ its proprietary TorchTM platform to supply actionable insights and analyses on the ecosystem of patients and healthcare providers.
 
“Through an equity investment in this industry, Anthem seized an opportunity to combine our unique capabilities with strong industry expertise in order to enable even more timely service and solutions for individuals in need,” says Ed Place, Chief Financial Officer at Anthem. “We believe that our marketing abilities and data analysis toolbox will be a game-changer in an industry that’s beginning to experience rapid growth.”
 
Proven industry leaders in media and data analysis, several of Anthem’s ventures will offer expertise and support, including education and resources, to strengthen current offerings and deliver the financial options terminally and chronically ill individuals require at a most difficult time in their lives.

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