Mr. Simon is the creator of the Arbitrage Life Payments System, the nation’s first of the current day life insurance premium finance payment plans. In 1988, STP Enterprises, Inc., the company he co-owns with his wife Pam, became the first agency in the nation to utilize premium finance in the sale of individual life insurance. STP has sold over 1500 policies financed through the ALPS, totaling billions of dollars of death benefit and nearly a billion dollars of premium.
STP has financed and re-financed billions of dollars of loans. In 1994, David was the first to securitize life insurance policies with Continental Bank, Fuji Bank and Life Investors Insurance Company. STP has administered its ALPS program flawlessly for over 30 years on behalf of major insurance carriers, including AEGON, Lincoln Benefit Life, American National, etc. and many of the nation’s largest banks, including Citibank, JPMorgan Chase, Bank of America, etc.
David has lectured for decades at insurance company seminars as well as life insurance professional and bank gatherings across the United States. David is an attorney who began his career in litigation. The Northridge Meadows case, arising out of the earthquake in California, and the Adames case, arising out of a shooting in Chicago, are among the notable actions David litigated.
Mr. Simon has been active with many charitable organizations over the last 40 years. He has served on several charitable boards and currently serves on two boards. David is a graduate of the University of Michigan and earned his law degree from the University of California (Hastings).