2.4.0.8107 - Disclosure - DESCRIPTION OF BUSINESStruefalsefalse1false falsefalseP03_01_2013To05_31_2013http://www.sec.gov/CIK0000049534duration2013-03-01T00:00:002013-05-31T00:00:001true 1us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Organization, Consolidation and Presentation of Financial Statements [Abstract]2false 2us-gaap_NatureOfOperationsus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00 <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: bold 10pt Times New Roman, Times, Serif"> (1) DESCRIPTION OF BUSINESS</div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Life Partners Holdings, Inc. (“<em>we</em>” or “<em>Life Partners</em>”) is a specialty financial services company and the parent company of Life Partners, Inc. (“<em>LPI</em>”). LPI is the oldest and one of the most active companies in the United States engaged in the secondary market for life insurance known generally as “life settlements”. LPI facilitates the sale of life settlements between sellers and purchasers, but does not take possession or control of the policies. The purchasers acquire the life insurance policies at a discount to their face value for investment purposes.</div> falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6003-108592 false0DESCRIPTION OF BUSINESSfalseDESCRIPTION OF BUSINESSUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.lphi.com/role/DescriptionOfBusiness12