Pensioners Tony and Pam Tobin pose at their home in Pagham near Bognor Regis in southern England August 19, 2010. In 2007, the Tobins bought a life settlement scheme with UK's Keydata Investment Services, a relatively new and complex type of financial product based on purchasing the unwanted life insurance policies of wealthy Americans and then collecting the death benefits. The returns depended, in part, on when those Americans died. The fledgling secondary market for life insurance policies -- also dubbed "death bonds" -- started winning attention around 2005, especially in the United States. As people live longer, the idea of cashing in a life insurance policy early in exchange for a lump sum appeals to some looking to supplement their longer retirement. But there was something worrisome about Keydata's scheme. Even as the Tobins invested their savings, the FSA, Britain's main financial regulator, was growing concerned about how Keydata was designing and marketing some its life settlement-backed products. REUTERS/Luke MacGregor