Insured Status

March 23, 2024
INSURED STATUS
The most recent death of an insured covered by a Reliant-related policy (i.e., maturity) occurred in May 2022. Since that time, none of the insureds covered by a Reliant-related policy have died.

The Receiver is tracking all of the insureds related to this case using industry standard methods and means. If any insured dies, the Receiver will be notified, and he will then inform the court and the Investors affected. The Receiver will handle the filing of the claim and the collection of the policy proceeds. Any distribution of the proceeds will have to be approved by the Court. In other words, no distribution will be made without Court approval.

Invoices related to policies covering the life of an insured who is known to be deceased will not be sent.
Therefore, if an invoice has been issued, it means the insured has not been reported as having died.

Calling to ask whether any insured has died or when they will die is not necessary. No one knows precisely when any insured will. Going forward, all deaths will be reported to the court and all affected investors.

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DEADLINE TO REMIT PAYMENT FOR ALL PAST DUE INVOICES

On March 8, 2024, the Receiver began issuing invoices for amounts due in arrears to all fractional interest position holders (a.k.a., investors) on a per policy (as in per series trust) basis. All invoices for all series trusts in which one or more fractional interest position holders had an amount due in arrears, including administrative fees, were issued on or before May 14, 2024.

As expressly stated on the invoices, payments were due not later than 30 days from the issue date of the invoice. As of July 4, 2024, those investors who have not yet paid their invoices for amounts due in arrears are at least a month past due.

All investors are hereby notified that all outstanding invoices must be paid in full by no later than 5:00 PM Pacific Daylight Time on July 31st, 2024. NO EXTENSIONS OR EXCEPTIONS WILL BE GRANTED.

Once this deadline passes, all outstanding and unpaid invoices will be canceled by the Receiver, and the benefit amounts associated with each such invoice will be permanently forfeited.

Those investors who wish to preserve their investments and any benefit amount associated with any fractional position for which they have an outstanding invoice MUST remit payment in full for such invoice no later than July 31, 2024 at 5:00 PM Pacific Time. NO ADDITIONAL WARNINGS OR TIME WILL BE GRANTED. IF YOU DO NOT PAY YOUR OUTSTANDING INVOICES, YOUR FRACTIONAL INTEREST POSITIONS AND ALL MONIES PREVIOUSLY TENDERED IN RELATION TO THEM WILL BE PERMANENTLY FORFEITED.

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