A viatical settlement is the sale of a life insurance policy by the policy owner before the policy matures. Such a sale, at a price discounted from the face amount of the policy but usually in excess of the premiums paid or current cash surrender value, provides the seller an immediate cash settlement. Similar to reverse mortgages, viatical settlements involve insured individuals with a life expectancy of less than five years. In countries with high health care costs (such as the United States), this is a practical way to pay extremely high health insurance premiums and other senior care expenses that severely ill people face. Some people are also familiar with life settlements, which are similar transactions but involve insureds with longer life expectancies (two to fifteen years). - From Wikipedia and other sources 5/2007Secure Life Settlements Provides Insurance Agents, Brokers with Tools to Assist Senior Clients
Baltimore, MD (PRWeb) March 27, 2007 -- Secure Life Settlements™ today announced it now offers insurance agents and brokers with financial planning tools for the senior citizen clientèle who need to realign their financial and insurance arrangements. The company also offers insurance agents and brokers the most competitive industry compensation available.
"We use institutional funding sources so you can deliver any size insurance policy," said Adam Levitt, Secure Life Settlements' Vice President for Sales and Marketing. "We make your clients are always the top priority, and their confidentiality and safety is always the No. 1 priority."
Secure Life Settlements provides life insurance brokers with a secondary market for senior policyholders to liquidate a life insurance asset, whether it be term, universal life, whole life, second to die, key man, etc.). With strong connections to this secondary market, the company is able to provide top industry compenstation and another financial planning tool for a broker's senior clientele. Life insurance brokers can benefit from this arrangement if they meet the following conditions:
- has a client age 65 or older
- has a younger client with serious health problems
- has a with a life insurance policy of $250,000 or more
- has a client with a life insurance policy that is at least two years old
According to the latest analysis, 2006 was a year of big growth in the life insurance settlement industry. The gross winning bids accepted by brokers averaged 26% greater than the cash surrender value. The average death benefit value was $1.9 million per policy. The average cash surrender value was $69,350 per policy (3.65%) per policy. The average winning bid was $551,000 (29%) per policy.
As life insurance settlements continue to grow, brokers can continue to depend on Secure Life Settlements to address their needs in finding the best possible settlement offers for their senior clientele. Life Settlements have become part of the expanding financial landscape and they provide greater flexibility, value and protection for seniors who wish to transition an unwanted policy.
Insurance agents and brokers who want to know more should visit http://www.securelifesettlements.com/brokerform.html to request a free copy of our ebooklet, "Finding New Life in Old Policies."
About Secure Life Settlements™
Secure Life Settlements™ is a top rated marketing organization specializing in education for seniors who have a life insurance policy they would like to sell. Life settlements ensure that seniors who want to sell their Life insurance receive the maximum amount of cash for their life insurance policy. We have the experience and knowledge to help guide the client through the Life Settlement process.
Our mission is to provide clients with the education and the outlet to receive the highest offer available on their life insurance policies, with an industry leading turnaround on their payment. We always guarantee the highest level of professionalism, privacy, confidentiality and respect for both clients and agents.
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