Learn More About Life Insurance Settlements and the Opportunities Around this New and Emerging Financial Possibility
Nov 15, 2010
Sources: Michael G. Grace and Norvax.com
What is a life insurance settlement and its benefit to the consumer?
- A life insurance settlement is the sale of an unwanted or unneeded life insurance policy to a third party for a lump sum payment.
- The need for life insurance often changes with time and if the policy has outlived its usefulness, a life settlement can provide the policy owner with cash today to enjoy while living.
- A life settlement allows a policy owner to sell their policy by transferring the ownership and beneficiary rights to the buyer. Once the policy is sold, the client is no longer responsible for burdensome premium payments.
How do you take advantage of these opportunities?
- Give us a call. We have access to Norvax who has partnered with Vitae Life Settlements, LLC, a life settlement brokerage firm. They specialize in obtaining the best possible offer for in-force policies and have over thirty relationships with institutional funding sources and the experience to ensure market participants experience the level of service they deserve from the first step through closing/funding.
- Vitae has proprietary pricing software which allow them to pre-price a prospective case to determine if a given case is viable. Their pre-pricing methodology allows brokers to establish realistic expectations with their clients and minimizes time consumed on unlikely cases.