Life Settlement Article
A good read about selling your life insurance policy can be found at: Wanted: Your Life Insurance
This articls dicusses methods about selling your life insurance policy and what to expect. I feel it sheds a little bit of negativity on the life settlement industry, and does not tell both sides of the story. Here are some replys to that article.
Nickname: John
Review: The Deloitte report is fiction. It is based on information culled from The NYS Dept of Insurance annual reports. The major flaw is that NYS does not require or identify Life Settlement reporting. Bad information makes for bad reporting.
Date reviewed: Oct 26, 2005 5:23 PM
Nickname: EL
Review: This article really undercuts and understates the potential of the advanced life sales market. To reap benefits, clients should be older and have health issues creating a life expectancy of, typically, less than 12 years. I have assisted clients in selling their old UL and obtaining new UL coverage for the same death benefit at a savings of $10,000+ annually when the money from the sale of the old policy is used to reduce the premium on the new. This is a great advanced sales and estate planning tool for people of substantial means who have not outlived their need for life insurance.
Date reviewed: Oct 26, 2005 1:50 AM
Nickname: Insure.com
Review: The life settlement market is brand new. Being able to sell an unwanted and unneeded life policy for 20% of its death benefit value can be a great deal for someobody who does not want and cannot afford high premiums any longer. Robert Bland, CEO, Insure.com
Date reviewed: Oct 25, 2005 12:46 PM
Nickname: Mjhorbal
Review: Unfortunately, the study done by Deloitte is severely lacking and John Skar has an agenda with his comments. The reality of the settlement market is that most people want to keep their policy. With advances in medicine and aggressive underwriting, it is possible to obtain better offers these days, obtaining a new policy at comparable rates to the old policy. When the agent is able to do that, selling the old policy is a no brainer. Michael J Horbal, President LifeInsuranceAdvisors.com
Date reviewed: Oct 24, 2005 11:10 AM
