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Regal Settlement Group LLC
Your Partner in Life Settlements |
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Agent/Advisor
What are the benefits for the financial professional?
Your clients look to you for expert advice and due diligence when it comes to life insurance and wealth management. And no matter how robust your book of business, life settlements offer you the possibility to expand and grow both. By facilitating the settlement of unneeded or undervalued life insurance policies, you can direct the proceeds of a life settlement into new financial solutions. Through life settlement you have the power to turn a traditionally one-time transaction into a loyal client relationship!
Financial investments from settlement proceeds may include:
New life insurance
Annuities
Mutual funds
Brokerage accounts
Long-term care
Other investment vehicles
Incorporating Life Insurance Appraisals into your practice can open up an entirely new revenue-generating income stream from existing clients and help you to attract new senior clients with this innovative and beneficial concept. You can help your clients recover premiums from their initial life insurance investment. The writing agent retains any residuals from the original policy as well, benefitting financial professionals directly. The financial professional also receives commissions for creating new client capital and reduces insurance lapse rates.
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Who qualifies to sell their life insurance in the secondary market?
Seniors, age 70 or older, who have:
> Experienced a health condition change.
> A life expectancy greater than three years.
> A transferable universal life, survivorship, adjustable life key man, whole life, second-to-die, or a convertible term life insurance policy. It must have a face amount
of $250,000 and up.
> Ownership – individual, corporate, partnership, trust, bank, or LLC.
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Why should you consider life settlement as an option for your clients?
Life insurance provides financial solutions that meet the needs of both businesses and families. Over time, needs change. Loans are repaid, key executives retire, estates become smaller, businesses are sold, estate taxes are reduced – or, better yet, no longer exist. Perhaps with a reduced interest rate, the policy may be just too expensive to maintain.
According to a leading actuarial consulting firm, almost 90% of all universal life policies never end in a death claim.
The options your clients have had in the past for dealing with unnecessary life policies have been to either surrender the policy for its current cash value, or allow it to lapse. Life settlements have changed the way we should look at life insurance and it is the agents fiduciary duty to determine the market value for a seniors life insurance policy. Life insurance appraisals should be considered when looking at retirement plans or estate planning needs for all seniors.
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