Client Got More Than 10x by Using Settlement Benefits Association

August 1, 2022 | By WebFX

Mountains and cloudsIt’s a simple economic truth, competition for a scarce resource drives up prices.  For some reason, when it comes to the “once in a lifetime” transaction of a Life Settlement, clients can easily be confused about how to create this competition.

This example illustrates the importance of using a professional broker to achieve price maximization.  We had a  72 year old male approach us after receiving a $35,000 offer from a direct Life Settlement provider.  The insured has moderate to severe health issues including CKD stage 4, uncontrolled blood pressure, diabetes, and heart issues.

The $35,000 offer was not even the initial bid by the direct buyer he was working with.  They had first offered $20,000 and when he didn’t accept, they raised their offer.

Even if it was late in the process, he smartly decided it was time to try using a professional broker to shop his policy properly.  When he turned to Settlement Benefits Association, we immediately recognized that this $750,000 universal life policy has much more value than he had been offered.  So we proceeded to expedite the auction process and secured him multiple bids by allowing every licensed provider in his state to review and compete on the file.

And he was rewarded for his decision to pursue this path, as the highest bid we secured for him was $240,000, more than 10x what he was able to negotiate directly with his initial direct efforts.

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