Everything is getting more expensive these days. Gas prices are higher, food prices are higher, used car prices are higher—it seems like nothing right now is immune from the effects of inflation. And it’s not going away anytime soon.
It’s true—according to “The Life Settlements Report” released by The Deal, 3,241 people sold their life insurance policies in 2020 for a combined total of over $848 million. It’s a staggering number, and despite the societal impacts of the COVID-19 Pandemic, it represented a significant increase over the amount that was sold the year prior.
Many life insurance policy owners may wonder where to start when pursuing a life settlement provider. Selling a life insurance policy is an important decision for policyholders to make and one that should not be taken lightly. They need to know they can trust their provider to help them sell their policy, which is why the decision must be evaluated on a case-by-case basis. Having a complete understanding of your client and their goals is imperative in guiding them in their determination of how to choose a life settlement provider.
Life settlements are a great way for retirees to gain a bit of extra cash in times of need. They are generally a win-win for everybody involved, from your clients who receive them to the institutions that invest in them. While there are lots of rules and regulations surrounding the practice of settling life insurance policy, it can definitely be a great way for policyholders to receive funds if they realize they no longer want or need their policy. In this blog, we’ll cover a few reasons why your client may need a life insurance settlement.
The life settlement industry has been on a steady rise since the 1980’s, with Conning predicting a 1-2% increase since 2019. The direct to consumer segment of the life settlement industry has also experienced growth during this time as well, with life settlement companies following the retail and travel industries who have operated on this model for years. In this blog, we’ll explain how the method works and who these companies represent.
There are many reasons to work with a life insurance professional and your clients may be asking for more information on the options of working with a specific life insurance professional. How do you provide all the information for your client that is simple and straightforward? This article can help. Let’s go over the top 5 reasons to work with a life insurance professional.
Evaluating life settlement companies can be a difficult and confusing process. The process of selling an unwanted or unneeded policy is regulated in most states which can add to the headache and confusion. There are several different types of life settlement companies that work with policyholders, but each type plays a different role in the process. Before selling your policy, it is important to understand who you are working with and how to evaluate certain key details involved in the process.
Do you have a life insurance policy that you’re about to let lapse? Are you 65 years or older?