A 65 year old male in relatively good health presented a combined $1.3M in total insurance through his Certified Financial Planner. The coverage was no longer needed since his wife had recently passed away. The insured, who was also the policy owner, wanted a way to fund his grandchildren’s college fund despite his limited liquidity.
As a professional brokerage, Settlement Benefits Association shopped each policy individually to literally dozens of licensed Life Settlement providers. Given the different face values of each policy, we ended up with bids from 8 different providers. We created a scenario with the highest bids for each policy and combined the paperwork from 2 different providers to best suit his needs.
Working with the agent, we presented a final offer to the client of over $238k. He gladly accepted this Life Settlement and has purchased the college savings product he desired as well as an annuity for himself.