The Issuer – The issuer normally is a bankruptcy-remote entity established for the sole purpose of purchasing life settlements; issuing securities collateralized by life settlements; and holding other assets for the sole purpose of servicing the interests of the note holders. The responsibility of the issuer is outlined in the indenture of the transaction.

The Providers – Providers are licensed entities that purchase insurance policies directly from sellers or licensed brokers or agents authorized to act for sellers. They are responsible for making sure that all transfer related documentation packages conform to applicable state or federal statutes, laws, rules and regulations relating to consumer protection and insurance and life settlement practices and procedures. Providers present policies to the issuer pursuant to an origination agreement.

Medical Examiners – Medical examiners provide comprehensive reviews of medical records and mortality profiles on the insureds looking to sell their insurance policies. The mortality profiles provided by the medical examiners includes a summary of pertinent medical conditions as well as a determination of life expectancy. The issuer requires providers to engage the services of at least two independent medical examiners to evaluate the life expectancies of the insureds.

Advisor for Inconsistency – The adviser performs "inconsistency checks" verifying that medical records are consistent with the original insurance applications. Medical examiners sometimes can provide these services.

Collateral Manager – The collateral manager is responsible for choosing the policies that will be included in the transactions. This manager's specific responsibilities may include: confirming that the eligibility criteria for including in a portfolio are satisfied; performing policy optimization to minimize premium payments and maximize death benefits; delivering the sales documentation package to the trustee; liquidating policies when necessary; determining which policies should lapse in the event of a liquidity crisis; and determining how much to reduce death benefits in order to reduce premiums payments in a liquidity crisis.

Tracking Agent – The tracking agent is responsible for contacting the insureds or their representatives to verify the current life/death status of the insureds. The tracking agent normally uses methods similar to those developed for consumer loan servicing such as accessing databases for the insured's marital status, residence and physicians' visits and matching Social Security numbers to deaths of individuals. In addition, the tracking agent is responsible for obtaining copies of death certificates (and sometimes, filing the death claim with the insurance company) to facilitate the prompt collection of death benefits.

Trustee – The trustee performs all the duties it is assigned in the transaction's indenture. In general, the trustee is responsible for holding the bonds/notes for the benefit of the note holders,; for holding the security granted by the issuer over its assets; and for making payments and performing certain other obligations pursuant to the indenture. The trustee also holds all documents delivered to the issuer in connection with each life settlement. In addition, the trustee performs certain duties related to documenting life insurance policy acquisitions, fund transfers and submission of claims for payment under life insurance policies on the instructions of the collateral manager.

Actuaries – Actuaries can play an important role by helping to determine the appropriate mortality tables for the transaction; assessing the reasonability of the of the mortality/survivorship schedule provided by medical examiners; performing an underwriting review of the medical examiners used in the transaction; and helping the issuer determine the liquidation value of life settlements.

Insurance Companies – The insurance companies that issued the life insurance policies in the transactions are critical, because they must be notified of the transfer of the policy's ownership, they can provide policy illustrations to help with policy optimization, and they are responsible for sending notices to the issuer about the policies and for sending the death benefits to the issuer.

Attorneys – Attorneys can help ensure that all documentation is complete and has been prepared in compliance with state insurance regulations, and that the integrity of the insurable interest doctrine is maintained. They also may provide comfort letters to verify the states in which providers are licensed, and they can help craft medical disclosure forms to comply with applicable privacy laws. In addition, attorneys ensure that the bankruptcy-remote entities from which the securities are issued have been created so as to protect the assets of such security holders.

Accountants/Auditors – Accountants can provide opinions about (1) the recognition of income and expenses in the bankruptcy-remote entity's country of domicile; (2) the tax implications, if any, of acquiring life settlements by the entity; (3) any special tax treatment/implications associated with the disposal of life settlements; and (4) identification of any tax withholding requirements that might be applicable to the entity. Auditors periodically provide opinions on the integrity of the balance sheet and income statement of the bankruptcy-remote entity.

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