Fair Value Measurements (Tables) - LIFE PARTNERS POSITION HOLDER TRUST [Member]

9 Months Ended

Sep. 30, 2021

Quantitative information about Level 3 fair value measurements

The balances of the Trust's assets measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020, are as follows:

	September 30, 2021		December 31, 2020
Assets:
Investments in Life Insurance Policies
Level 1	$	—	$	—

Level 2	$	—	$	—

Level 3	$	191,833,847	$	159,179,912

Total Fair Value	$	191,833,847	$	159,179,912

Quantitative Information about Level 3 Fair Value Measurements

Life insurance policies	September 30, 2021			December 31, 2020
Fair Value	$	191,833,847		$	159,179,912

Face Value	$	922,135,967		$	997,429,412

Valuation Techniques	Discounted Cash flow			Discounted Cash flow

Unobservable Inputs	Discount rate, Mortality assumptions			Discount rate, Mortality assumptions

Weighted average discount rates
Life Settlements		15.0	%		26.7	%
Viaticals		20.0	%		27.3	%

Mortality assumptions - 2015 VBT mortality multipliers:
Life Settlements		85% - 90	%		90% - 100	%
Viaticals		350	%		350	%

Assets measured at fair value on recurring basis

As of September 30, 2021	Weighted Average Life Expectancy	Fair Value		Change in Fair Value
As of Life Expectancy Months Adjustment	Weighted Average Life Expectancy	Fair Value		Change in Fair Value
-5%		$	207,017,031	$	15,183,184
No change	4.9 years	$	191,833,847	—
+5%		$	175,933,837	$	(15,900,010)

As of December 31, 2020	Weighted Average Life Expectancy	Fair Value		Change in Fair Value
As of Life Expectancy Months Adjustment
-5%		$	173,516,265		$	14,336,353
No change	4.7 years	$	159,179,912		—
+5%		$	144,277,667		$	(14,902,245)

As of September 30, 2021 Rate Adjustment	Fair Value		Change in Fair Value
+2%	$	178,158,230	$	(13,675,617	)
No change	$	191,833,847		—
-2%	$	207,558,233	$	15,724,386

As of December 31, 2020 Rate Adjustment	Fair Value		Change in Fair Value
+2%	$	151,012,859	$	(8,167,053	)
No change	$	159,179,912		—
-2%	$	168,255,950	$	9,076,038

Credit exposure to insurance companies

The following table provides information about the life insurance issuer concentrations that exceed 10% of total death benefit or 10% of total fair value of the Trust's life insurance policies as of September 30, 2021:

Carrier	Percentage of Face Value			Percentage of Fair Value			Carrier Rating
Transamerica Financial Life Insurance		9.9	%		13.0	%	A+
John Hancock Life Insurance Company		7.1	%		10.4	%	A+
The Lincoln National Life Insurance		8.7	%		10.0	%	A+

Carrier

Percentage of

Face Value

Percentage of

Fair Value

Carrier

Rating

Transamerica Financial Life Insurance

10.2

13.5

The Lincoln National Life Insurance

10.0

11.5

A+

Change in estimated fair value

The following table provides a roll-forward of the fair value of life insurance policies for the three months ended September 30, 2021 and 2020:

	2021			2020
Balance at July 1,	$	197,372,067		$	166,888,015
Realized gain on matured policies		22,830,684			11,320,725
Unrealized loss on assets held		(8,955,975	)		(14,932,850	)
Change in estimated fair value		13,874,709			(3,612,125	)
Matured policies, net of fees		(35,445,126	)		(14,453,568	)
Premiums paid		16,032,197			15,221,113
Balance at September 30,	$	191,833,847		$	164,043,435

The following table provides a roll-forward of the fair value of life insurance policies for the nine months ended September 30, 2021 and 2020:

	2021			2020
Balance at January 1,	$	159,179,912		$	172,242,734
Realized gain on matured policies		67,611,732			90,790,340
Unrealized gain (loss) on assets held		9,403,459			(34,532,408	)
Change in estimated fair value		77,015,191			56,257,932
Matured policies, net of fees		(91,400,960	)		(110,572,525	)
Premiums paid		47,039,704			46,115,294
Balance at September 30,	$	191,833,847		$	164,043,435

Life Partners IRA Holder Partnership, LLC 10-Q