Privacy Policy

Magna Life Settlements, Inc. (hereafter the “Company”) respects all individual rights of privacy. The Company understands and shares public concerns regarding the use and protection of nonpublic personal information and is committed to restricting the use and disclosure of such information as required under applicable law to the extent that it comes into the possession of the Company. The Company recognizes and complies with its obligations to maintain confidentiality of all personal, financial, health and medical information received from or pertaining to life settlors and insured individuals in connection with the Company’s consideration of proposals, offers and/ or agreements to purchase life insurance policies in the ordinary course of its business.

In consideration of proposals or offers for sale of life insurance policies, certain types of nonpublic personal information must be obtained by the Company from the life settlors and insured individuals. This information is provided to the Company on forms completed by the life settlors and insured individuals, which their Agent/ Broker then forwards to the Company. The following Notice, in compliance with the federal Gramm-Leach-Bliley Act (hereafter “GLBA,”) describes the Company’s policies and procedures regarding the treatment and handling of this nonpublic personal information.

What Types of Information Does the Company Receive Regarding the Life Settlors and Insured Individuals?

The information received by the Company includes, but is not limited to:

Identitysuch as name, address, email address, social security number, driver’s license number and date of birth of the life settlors and insured individuals;
Transactional information such as the terms of the life settlement contracts and information provided in documents signed by the life settlors and insured individuals related to the transaction;
Medical or Health Information that may be included in information provided by the life settlors and insured individuals, insurance carrier, healthcare providers, medical underwriters, personal contacts as designated by the insured individuals, or personnel involved in servicing policies on behalf of the Company and confirming the insured individual’s medical or health status.
Life Expectancy Evaluationsfrom independent medical underwriters, which do not include medical records but may divulge some medical information, such as health conditions, about the insured individuals. (The insured individuals’ medical records are sent by the Company to independent medical underwriting consultants who enter into confidentiality agreements with the Company and who are responsible for maintaining and enforcing their own privacy policies as required by law and applicable regulations.)
Life Insurance information including the type and terms of life insurance policy, a copy of the policy, a copy of the original application for insurance and a policy illustration provided by the insurance carrier.

How Does the Company Use the Information that It Collects About the Life Settlors and Insured Individuals?

The Company uses the information it collects in determining whether to purchase certain life insurance policies from individuals.
The Company does not sell any of the nonpublic personal information regarding the life settlors and insured individuals, nor does it distribute such information to any third parties except as required or permitted by law.

Who Has Access to the Information Once It Is Submitted to the Company?

Access to nonpublic personal information is restricted to the Company’s employees who need to know or access such information to provide life settlement services. Nonpublic personal information may be shared by the Company with unaffiliated companies that provide support services to the Company, but only to extent necessary for the Company to properly conduct its business and manage the policy.
The Company is serious about the security of the information in its filing and computer systems. The Company uses a system of passwords, firewalls and other physical, electronic and procedural safeguards designed to protect against the unauthorized access to nonpublic personal information.
The Company periodically updates its technology and the education of its employees and consultants about the importance of maintaining privacy striving to implement the best practices to ensure that nonpublic information is protected as required by applicable law.

What Happens if a Policy is Later Transferred by the Company?

If a policy is transferred by the Company, it will only be transferred pursuant to a written agreement that expressly requires that the entity acquiring the policy must acknowledge and agree to preserve the private and confidential nature of nonpublic personal information.

Will the Company Share Information with Affiliated or Non-Affiliated Companies?

The Company may share nonpublic personal information with affiliated companies in order to administer, process, enforce or service its policies. The Company does not sell or share nonpublic personal information with any other company for marketing purposes.
The Company may share nonpublic personal information with the following types of non-affiliated third parties: [Where required, the Company obtains signed consent from the individual authorizing the Company to share his or her information.]
Life settlement brokers, independent life settlement providers, agents, attorneys and financial advisors representing the life settlors and/ or insured individuals directly in connection with the life settlement transaction.
Medical underwriters who provide life expectancy evaluations to the Company at the request of an independent provider or the Broker representing the life settlors and insured individuals. These underwriters’ privacy policies are available to the provider or broker representing the life settlors and insured individuals, who may request them directly from the underwriter.
Service Providers, Consultants and funding entities who work with the Company directly in connection with evaluating, processing and closing settlement transactions. These include the Company’s funding entities and their advisors, trustees and independent escrow agents. Such parties are required to sign written agreements obligating them to preserve confidentiality and privacy of nonpublic personal information.
Insurance Carriers who have issued the policies that life settlors propose to sell to the Company. Carriers may be contacted directly to confirm their privacy policies.
Funding Entities that act as capital providers to which policies are transferred, and their advisors and trustees, each of which agrees in writing to the preserve confidentiality and privacy of nonpublic personal information.
Consultants and service providers who work under contract to the Company for policy administration and tracking, each of which agrees in writing to preserve the confidentiality and privacy of nonpublic personal information.
Consultants and service providers who work for the Company to assist with design and maintenance of computer systems and other general business support, each of which agrees in writing to preserve confidentiality and privacy of nonpublic personal information.
Regulators and legal authorities that the Company must report to as a matter of law.

Marketing Communications

To the extent that users of this website voluntarily provide information to the Company through the website, such information will be kept confidential and used only for providing information or responding to the user’s inquiry. By submitting your contact or identifying information, including your name, phone number, address and email address, you understand that we may contact you by email, mail or phone to discuss your inquiry and you consent to this contact. You agree that all agreements, notices, disclosures, and other communications that the Company provides to you in accordance with the prior sentence satisfy any legal requirement that such communications be in writing.

Internet Cookies

Cookies are text files placed on your device by websites to collect standard log information and visitor behavior information. Use of cookies makes using the Internet easier and use of cookies is an industry standard.

Our service providers and we use cookies on our website. Information from cookies is used to track your use on our websites and to make statistical reports on activity on our website. For more information about cookies visit www.aboutcookies.org or All About Cookies.org at http://www.allaboutcookies.org/.

Your browser is probably set to accept cookies. However, if you would prefer not to receive cookies, you can change your browser settings to refuse cookies and www.aboutcookies.org will tell you how to remove cookies from your browser. If you choose to have your browser refuse cookies, it is possible that some areas of our website will not work properly when you visit them.

More About Cookies

This More About Cookies section outlines, for each cookie that is set on your device when you visit this website, its purpose, information collected when you visit this website and third-party sites, how to opt out, and a link to a website where you can withdraw consent to being tracked by third parties. Session cookies are automatically deleted at the end of your browsing session. Persistent cookies remain on your device for the duration of each specific cookie, until its expiration date or until you delete it, whichever comes first. Unless otherwise stated, the cookies listed below are persistent.

Each cookie serves one of three different purposes: essential, service enhancement, or analytics. The cookies on this site will not be used for any purpose other than as stated below.

Essential Cookies

Essential Cookies are necessary for the operation of this website because they enable you to freely move through the Site. If you do not permit the use of Essential Cookies, your visit to this Site may be impaired. For example, these cookies remember your preferences as you move around the Site.

The cookies below are controlled by the Company that lets us know if your device has acknowledged our cookie notice. This cookie expires after ten years. Do not use this website if you do not want to receive this cookie.

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WordPress, Google Analytics, CallRail, Hubspot, Salesforce and Pardot are our administrative tools to configure which cookies are delivered via our website. Do not use this website if you do not want to receive this cookie.

Service Enhancement Cookies

Service Enhancement Cookies store your preferences and enable the Company to provide the functions and contents of this website tailored to your specific needs. In addition, these cookies can be used to enable videos on this website and enable sharing with social networks.

WordPress, Google Analytics, CallRail, Hubspot, Salesforce and Pardot are the list of software services we use that allows our website users the ability to share our web pages via their own social accounts. Information that may be collected includes:

Analytics, Browser Information, Cookie Data, Date/Time, Demographic Data, Hardware/Software Type, Internet Service Provider, Page Views
IP Address, Device ID, Search History
Name, Address, Phone Number, Email Address, Login
Financial Information

Analytics Cookies

Analytics Cookies collect data on how this website is used, for example which pages of the website were most frequently visited. These cookies provide the Company with analytical data on the performance of this website and information regarding how to improve it.

Google Universal Analytics. We use Google Analytics which is a web analytics service from Google, Inc. Google Analytics sets a cookie on your device for the purpose of recognizing your device. We use the data received from Google Analytics for business planning, operations, and marketing activities aimed at understanding better how to improve the contents of our website and your user experience. While the cookie is persistent, the data expires in two years. Information that may be collected includes:

Analytics, Browser Information, Cookie Data, Date/Time, Demographic Data, Hardware/Software Type, Internet Service Provider, Interaction Data, Page Views, Serving Domains
IP Address, Device ID, Search History, Location Based Data
Name, Address, Phone Number, Email Address, Login

For more information about how Google collects, uses and shares your information, please visit the Google Privacy Policy-Partners website at http://www.google.com/policies/privacy/partners/

Advertising Cookies

Advertising Cookies collect information about your visit to this website for the purpose of retargeting (showing you the Company’s ads on other websites) and behavioral advertising (showing you ads on other websites based on your browsing history). These cookies help the Company understand which online advertising is working to bring visitors to this website before or after they have seen the Company’s digital advertisement.

Facebook. Information collected is subject to your Facebook account settings.
Google Ad Word Tracking. Information collected could include:

Ad Views, Analytics, Browser Information, Cookie Data, Date/Time, Demographic Data, Hardware/Software Type, Internet Service Provider, Interaction Data, Page Views, Serving Domains
IP Address, Device ID, Search History, Location Based Data
Name, Address, Phone Number, Email Address, Login

How to Control Cookies

You can control and/or delete cookies as you wish – for details, see aboutcookies.org, and www.youronlinechoices.com.

We use Google Analytics and Bing Analytics, to help the Company measure visitors and trends for this website. For more information about how Google collects, uses and shares your information, please visit the Google Privacy Policy-Partners website at http://www.google.com/policies/privacy/partners/. For more information about how Bing collects, uses and shares your information, please visit the Microsoft Privacy Statement website at https://privacy.microsoft.com/en-us/privacystatement/.

To prevent your data from being used by Google Analytics, click here for instructions.

You can delete all cookies that are already on your computer and you can set most browsers to prevent them from being placed on your device. If you do this, however, you may have to manually adjust some preferences every time you visit this website and some services and functionalities may not work. Note that when you opt-out of being tracked and/or targeted by some companies, they set a cookie in your browser to indicate that you have opted out.

If you want to opt-out of targeted interest-based online advertising, please visit Network Advertising Initiative (NAI) Consumer Opt-Out website at http://www.networkadvertising.org/managing/opt_out.asp. Please note you will continue to receive generic ads.

Other Websites and Social Media

This website may contain links to other websites. This Online Privacy Policy only applies to Magna Life Settlement’s website, so when you visit or use other websites you should read their own privacy policies.

The Company’s website and communications may contain links to social media websites such as Facebook, LinkedIn, Twitter, etc., and social media features, such as the Facebook “Like” and “Share” buttons. Social media sites and features may collect and use Personal Information from you. We have no control over and are not responsible for the privacy practices, policies, or content of any Social Media websites or features, even if you link to them from, or use them on this website. Please review Facebook’s privacy policy at https://www.facebook.com/about/privacy/update . Please review LinkedIn’s privacy policy at https://www.linkedin.com/legal/privacy-policy . Please review Twitter’s privacy policy at https://twitter.com/privacy. Please review Instagram’s Privacy Policy at https://help.instagram.com/519522125107875. Please review Pinterest’s Privacy Policy as https://policy.pinterest.com/en/privacy-policy.

We are not responsible for information, content, and/or the privacy practices of Third Parties operating websites that may link to this website. The inclusion of a link on this website does not imply endorsement of the linked site by the Company or by our business partners.

If you are a California resident, please refer to our CCPA Policy

Is this Online Privacy Policy Subject to Changes?

Yes. The Company reserves the right to amend, revise or supplement this notice of online privacy policies at any time. In the event of such changes, the Company will deliver a revised notice of our online privacy policies as required by applicable law. Please direct all questions regarding this notice in writing to Magna Life Settlements, Inc., 835 West 6th Street, Suite 1400 Austin, TX 78703 or [email protected].