The Treasury said Wednesday some life insurers have met requirements for government capital investments due to their status as bank holding companies, and their applications for bailout funds are now being considered.

"There are a number of life insurers that have met requirements for the Capital Purchase Program because of their bank holding company status," said Treasury spokesman Andrew Williams. "These are among the hundreds of financial institutions in the CPP pipeline that will be reviewed and funded as appropriate on a rolling basis."

The statement was made in response to a Wall Street Journal story published late on Tuesday saying the Treasury would extend its $700 billion financial bailout program to certain life insurers.

Williams said any capital investments in insurers that have bank holding company status would not constitute a new rescue program.