Are you an insurance agent interested in adding a life settlement option for your practice ? Helping clients as they show interest in selling a life insurance policy is part of your fiduciary duty. Not only that, but when you team with Global Life Settlements you can rest assured that we are licensed and the process will go smoothly.
Since 88 percent of all life insurance policies never pay out, because they either lapse or surrender, the opportunity to opt for a life settlement is a viable option.
All of your administrative duties are taken care of by us. Plus, you’ll have access to a pool of resources many agents only wish they had. By letting Global life settlements do all the heavy lifting you can focus on what you do best , building your practice. Not only that, but you will continue to see your residual income and have opportunities to earn more commissions on policy conversions, long term care and other life products and your clients will have the money to make that happen. The investors in the secondary buyers’ network, after the bid on a policy and your client accepts the offer, will have the ability to invest the funds they receive how they see fit. Many clients use the funds to buy another policy, fund their medical care cost or they rest assured that you helped them fund their retirement. They usually can’t wait to tell their friends about you and what you have done for them through Global Life Settlements.
It is your responsibility, to equip your clients with all the information available during a financial review. When you first sit down or have a conversation with a prospective client, they will most likely want to know to what extent they will benefit. Today, we’re going to be giving you a little more information so you are prepared with answers to the questions they have. Continue reading to learn further about how your clients will benefit from insurance settlements. Be sure to find more information on our site, and do not hesitate to contact us at Global Life Settlements if you have any questions.
How Will Your Client Benefit From A Life Settlement?
No More Insurance Premium Payments
Selling a life insurance policy means that the former policyholder is saying goodbye to the premium payments they’ve most likely been paying for years. When they opt for a settlement, they have the potential to earn a substantial lump sum of cash in exchange for selling their policy in the secondary market. Having a source of additional funds will free them up from any stress they may be under. Perhaps they have health expenses they need to pay off, or maybe they would love to enjoy their retirement with a little more ease. Your client will be able to secure their income for the rest of their lives.
They Can Still Maintain Some Protection
After they sell an insurance policy, your client can still maintain a portion of their policy. They will still have access to consumer protections, including the following:
- Transaction disclosures
- Signing off on beneficiaries
- Suitability certifications
When you sit down to discuss selling a clients life insurance policy, it’s the law that they have to be offered more than the cash value in the policy.
In the life insurance settlements field, everyone involved can benefit. It is important that your client knows all they can before they sell, and it is your duty to provide this information. If you have any questions regarding the settlements process at Global Life Settlements, or if you are interested in joining our team of agents, do not hesitate to contact us today. We are more than happy to answer and address any of your questions and concerns.