This stuff has been around for quite a while, VHF. I don't like it, but I don't know it's immoral, although I thought it was when I originally heard about it.

It certainly can be transacted immorally, depending on how and to whom you market it, and whether or not you inform those of their alternatives.

Bottom line, though, there are some people who do not have anyone they want to leave money to, and rather than blow their coverage by not making the premium payments, if someone offers those type of people 50 cents on the dollar and then the assignee makes the remaining premium payments, I don't have a moral problem with it. But it remains on the "creepy" side for me.