Please interpret: american life insurance policies are being sold as an investment here

[BelgianMadCow]

Europeans can buy the life insurance policy of some unknown american and get a double-digit return on their "investment(?)".
You get the dollars present in the policy now, but have to pay a dividend in euros each year or something?

Is this a way for (US) corporations to switch their currency, betting on a dollar collapse?
Is it related to the mortgage crisis, or similar, as this is essentially a transfer of risk? It was presented as betting on the life expectancy of americans, but I think it's a wholly different bet.

It wasn't clearly explained, on belgian state radio, in an interview with a shady dutch policy salesman trying to introduce it in belgium.

Any thoughts?

regards
bmc

PS All of a sudden, the chinese have become the largest shareholders in our biggest bank (Fortis). When the italian De Benedetti tried that, all hell broke loose. Now, it was just announced as "a way to get the funds necessary for the takeover of another bank (ANB-Amro)". Blip.