June 2, 2016 |
By Adam Lippman
Fresh Reasons For Clients To Consider Life Settlements
- COI Increases – with several carriers instituting cost of insurance increases that seem to be unfairly target senior clients, many policy owners are facing more expensive premiums for the same policies. Combine this with still extremely low interest rates and even well planned scenarios are faltering in these situations. The courts are looking at the carriers behavior, but in the interim, do not let your client’s policy’s go without annual review.
- New Regulations – several states have either passed or considered laws that require or allow planners to disclose to policy owners that they may have the option to sell a life insurance policy before they lapse it.
- Life Settlement Provider Marketing – several buyers in the Life Settlement industry are now marketing directly to consumers. When your clients work directly with those buyers, instead of with you, they not only remove you from the equation but also most likely will not get the highest offers for their policy. This can only be accomplished by shopping the entire market and having all the buyers bid against each other to drive up the price.
