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 5/2007Settlements For Life, life settlements Industry Leader, Reports Record Growth; President Discusses Reasons for Growth and Looking Ahead
Memphis, TN (PRWEB) January 8, 2008 -- Settlements For Life (www.SettlementsForLife.com), one of the nation's most experienced and fastest growing Life Settlement companies, today announced its recent financial results. SFL has brokered the sale of a record number of life insurance policies in 2007 and expects quadruple growth in 2008.
"The steady growth this company has experienced is a result of our experience, trust, integrity and performance. Our clients, consisting of individuals, life insurance producers, broker dealers, financial advisors and other professionals, send us business because they know we deliver results," says Daniel Katz, President of Settlements For Life. "We are proud of our growth and will strive to continue our expansion to accommodate more clients in search of our services," adds Mr. Katz.
Settlements For Life-Growing in the Senior Life Settlement Industry
A life settlement (www.SettlementsForLife.com), also known as senior life settlement, viatical settlement, senior settlement or life insurance settlement, is the selling of a life insurance policy by the policy owner to a Provider company which pays the owner more than the cash surrender value of the policy. Often times, when there is an immediate need for cash or one simply has no need for his existing policy, a Life Settlements can serve as an appropriate solution.
Founded in 2003, Settlements For Life has grown exponentially in its five years of business. Why the steady increase and company success? Among other reasons, Settlements For Life offers full disclosure and transparency in all of its Life Settlement transactions, and offers its clients true value for their policies, while taking reasonable compensation for its services. Successful agents and producers continue to do business with SFL for these reasons and are able to assist their clients with their financial planning as it relates to their life insurance policies. "Although many states do not require full disclosure, we have nothing to hide and offer it to our clients now. Our clients benefit from full disclosure, as they can see the bidding process and how much compensation we earn. As a result, they know they are getting top dollar for their policies. We get referrals every day as a result of our integrity and performance. People trust us." Comments Mr. Katz.
As part of the Company's continuing growth, Settlements For Life expects to increase it's staff by 50% including positions in sales, case management, compliance, licensing and client education. "We employ the most experienced, dedicated, and hard working employees in our industry. Adding to our roster of employees will contribute to the company's efficiency and assist in our client needs."
Settlements For Life Continues Extending Licensing Program To Additional States
As part of this growth, Settlements For Life (www.SettlementsForLife.com) will continue expanding the states in which it has regulatory licenses. The company is now licensed or doing business in most states. Licensing for a few remaining states is in process and should be completed shortly.
To receive more information about Settlements For Life, please contact Daniel Katz, President at 877-588-5558.
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