It looks like the great bubble in human life, which has been growing for hundreds of thousands of years, is finally bursting. It was bound to happen.
The evidence: Seniors dumping their life insurance are getting sharply lower bids than they were a year ago.
According to Bloomberg, investors were paying $1 million for a $5 million life insurance policy last year. Today, bids are only around $600,000.
The problem is that too many seniors are dumping their policies to raise cash and that there aren’t enough buyers to absorb them all.
Still not confirmed is whether seniors are naked shorting themselves, selling life insurance policies they technically haven’t bought or borrowed.
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