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 5/2007Calvin Ayre Announces Retirement From Bodog
(PRWEB) April 23, 2008 -- Calvin Ayre, the internationally noted billionaire playboy founder of Bodog, will be retiring from his largely ceremonial role as the face of Bodog.
Additionally he will no longer be involved in Bodog operationally. In mid 2007 he successfully transferred ownership of the Bodog brand in North America to the Morris Mohawk Gaming Group. Internationally Bodog has put in place a very competent and significantly European executive team that is already managing Bodog Europe and Africa and plans to further expand to Latin America.
Ayre will be taking some time to himself in his home in Antigua and will continue to support charitable opportunities through the Calvin Ayre Foundation.
Ayre noted that, "While it has been great fun to live my life in front of the world's cameras and online though my blog, I am looking forward to a more private and meaningful period of giving back and working to support the Calvin Ayre Foundation."
About Morris Mohawk Gaming Group
The Morris Mohawk Gaming Group (www.morrismohawk.com) is located in the territory of Kahnawake just outside Montreal, Quebec, Canada, and is licensed by the Kahnawake Gaming Commission to offer gaming services from Kahnawake to users worldwide. Morris Mohawk Gaming Group is led by Olympic Gold medalist, Order of Canada recipient and First Nations' leader Alwyn Morris. For more information, contact Media Relations at pr @ morrismohawk.com.
About Bodog
Bodog has its head office, and is licensed in, the Caribbean nation of Antigua. Bodog (www.bodoglife.com) offers online gaming, which includes Poker, Casino and a host of other gaming products. Bodog does not offer 'for money' gaming services within North America. For more information, contact Media Relations at pr @ bodoglife.com.
# # #