Mutual Benefits Keep Policy Trust

Frequently Asked Questions

  • What does the Trust Wind-Down mean?

    The Trust will sell all of the policies in the portfolio. The sale proceeds net of related expenses will be distributed to investors in a fair and equitable manner based on the value of the policies and each investor’s proportion of beneficial ownership in the policies sold.
  • Why is the Trust portfolio being sold?

    The Trust’s resources, which have helped to partially cover (e.g. – subsidize) investor costs since the Trust’s inception, have diminished over time. The Trustee has determined that continuation of the Trust is not economically viable.
  • How will the Trust portfolio be sold?

    The policies will be marketed to buyers who routinely purchase life insurance policies.
  • Do I have to keep paying premiums?

    Yes. Continue to pay your premiums until you are notified that the Court has approved the sale of the policies and the anticipated sale date has been established by the Trust.
  • What if the policy I have an investment in matures before the sale?

    Any policies that mature prior to the sale will not be included in the portfolio sale. Death benefits on such policies will be collected and distributed to investors in proportion to their ownership interests.
  • How can the Trust sell a policy I have an investment in?

    The Trust owns the policies. Investors own a beneficial interest in the policies or their proceeds. This ownership format was established during the receivership and continued during the operation of the Trust.
  • I did not vote on the original plan to sell or keep my beneficial interest. Will the policy in which I have a beneficial interest still be sold?

    Yes. When the receiver provided the investors with the choice to keep or sell their policy interests, the process at that time was to keep any policies in which a majority of beneficial interest holders (determined by their proportional interest in each policy’s face value), subject to the provisions of the Trust authorizing the sale of policies upon Trust termination. Investors who did not vote were still subject to the results of the voting process.
  • Can I sell my policy interest before the portfolio sale?

    No. The Court has not authorized individual sales of fractional beneficial interests in policies owned by the Trust.
  • Has the sale of the portfolio been approved?

    The specific manner in which the portfolio will be sold has not yet been submitted to the Court for approval. The Trustee will seek Court approval of the manner of sale and will provide notice of that request to investors.
  • How much is my policy interest worth?

    The value of the policies, and therefore the proportional beneficial interests in each policy, will be determined in a fair and equitable manner after the portfolio sale. An independent valuation of the portfolio has not been performed.
  • How much will I receive from the sale?

    Net sale proceeds will be distributed to investors in a fair and equitable manner, which has not yet been determined and will be subject to Court approval. The Trustee will seek court approval of the manner of distributed the net sale proceeds and will provide notice of that request to investors.
  • When will the portfolio sale occur?

    The portfolio sale is currently scheduled to occur in the first calendar quarter of 2022.
  • When will the net sale proceeds be distributed?

    After the sale is completed, the Trust will request the Court’s approval as to the method of allocating net sale proceeds to investors. Upon receiving final approval from the Court, the net sale proceeds will be distributed.
  • What do I need to provide to the Trust in order to receive my net sale proceeds distribution?

    In order to process your disbursement, the Trust will require a current Form W-9 for US investors and a current Form W-8BEN for non-US investors.
  • How can I find out how much I have paid in premiums?

    The Trust’s servicer, Litai Assets, has a record of payments made by investors from the start of the receivership.
  • If I have questions or concerns that are not addressed here, how do I make my inquiry?

    You are strongly encouraged to use the investor portal established on the website for inquiries. You can also send an email to or call (305) 728-2985.
© 2020 Mutual Benefits Keep Policy Trust