A viatical settlement is the sale of a life insurance policy by the policy owner before the policy matures. Such a sale, at a price discounted from the face amount of the policy but usually in excess of the premiums paid or current cash surrender value, provides the seller an immediate cash settlement. Similar to reverse mortgages, viatical settlements involve insured individuals with a life expectancy of less than five years. In countries with high health care costs (such as the United States), this is a practical way to pay extremely high health insurance premiums and other senior care expenses that severely ill people face. Some people are also familiar with life settlements, which are similar transactions but involve insureds with longer life expectancies (two to fifteen years). - From Wikipedia and other sources 5/2007Bridgton Academy Headmaster Announces Retirement
North Bridgton, ME (PRWEB) May 13, 2007 -- After six years of leading Bridgton Academy, Headmaster David N. Hursty has announced that he will retire from Bridgton Academy in June, 2008.
In a letter addressed to Robert Teel'65, president of the Bridgton Academy Board of Trustees, Hursty attributed his decision to retire to the fortuitous convergence of anniversaries both of his 40th year as an educator, 18 of which will have been at Bridgton Academy, and of the Academy's 200th year in existence. He said, "This occasion has compelled me to contemplate the future for both of us, and after a great deal of thought, I have decided to retire from my role as headmaster of Bridgton Academy."
During his eighteen-year tenure at BA, Hursty will have served as director of external affairs, academic dean, director of technology, strategic planner, teacher, and headmaster. In his six years of leadership, the Academy enrolled students in record numbers; added and expanded academic programs; enjoyed successful athletic teams; and launched major initiatives in development and external affairs, including the ongoing Third Century Fund capital campaign, the largest fundraising effort in the Academy's history. For Hursty, one of the most significant achievements of his reign has been the construction of the Academy's multi-million dollar Humanities Center which opened this past fall.
Robert Teel'65, president of the BA Board of Trustees, responded to Hursty's announcement, saying that "I know in my heart that without Dave Hursty at the helm for the past six years, Bridgton Academy would not be on the verge of exploding into its third century with the energy and enthusiasm of a little school with a great future."
Having accepted Hursty's resignation, Teel said that the Board of Trustees must now begin its search for the 47th headmaster of Bridgton Academy. To that end, the board has hired the national consulting firm of Educational Directions, Inc. (EDI), to guide it through the search process. In addition, a search committee comprised of trustees, and an advisory committee of faculty and staff have been appointed to work with EDI in seeking a leader of excellence who will continue the growth and development of the Academy.
"It was a great day for the Academy when Dave stepped in as headmaster," said A.Philip Goepel'65, a member of the faculty for the past thirty years. "As someone who understands teaching, history, and people, he has done a great deal to move the Academy into its third century."
"It has been a privilege to serve on the Headmaster's Council with Mr. Hursty," said Allan J. Himes, a student in the Class of 2007 from Arnold, Maryland. "I have learned a great deal from him about what it means to be a leader and to make the right choices even when the answer is unclear."
Prior to coming to Bridgton Academy in 1990, Hursty served in various roles at 5 independent schools during his 40-year career as an educator, most recently as headmaster of Suffield Academy in Suffield, Connecticut, for 3 years. Originally from Hamilton, Massachusetts, he earned his bachelor's degree in education at Salem State College in Salem, Massachusetts, and his master's degree in history from Georgetown University.
In addition to his duties at BA, Hursty also serves on the executive committee of the Maine Association of Independent Schools, and is a trustee of the Bridgton Public Library, and an incorporator of Norway Savings Bank. He has also served as a trustee of the New York Association of Independent Schools and the WALKS Foundation.
Although Hursty is leaving his position as headmaster, he will continue to reside in the Bridgton community where he will "look forward to watching the Academy continue to grow and prosper as it begins its third century."
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