Every year, thousands of Americans over the age of 65 will lapse or surrender their life insurance policies for no other reason than a complete lack of awareness that another option even existed. You NEED to be proactive in advising your clients that this option exists. Don’t take my word for it. Listen to the experts:
As far the advisor’s role, “That means they’re legally obligated to act in the best interest of the policyholder. Advisors who partner with licensed life settlement brokers can bring that level of fiduciary protection to their clients. Many advisors don’t realize that this is an option—or that failing to present it could raise questions about their fiduciary responsibility. The industry hasn’t yet seen widespread litigation on that point, but the winds are shifting, especially with respect towards more consumer protection for senior populations.” – Brian Casey, Partner – Troutman Pepper and LISA Board Member
In the 4 most recent studies conducted by the Life Insurance Settlement Association (LISA), approximately $20 Billion in life insurance was sold where the clients received 6.5X more money instead of letting the policy lapse or be surrendered. Meanwhile, every single year, other Americans with death benefits totaling over $100+ billion didn’t have a clue that a life settlement was an option. (How is this possible?)
The reality is…
- Your clients don’t need you to help them sell their life insurance policy in lieu of lapsing or surrendering that same policy.
- They don’t need you to educate them about life settlements or even explain how easy and painless a free non-binding appraisal is to determine what the true value of their policy is today.
- They also don’t need help investing their additional money (up to 6.5X more) after they sell their policy.
Just like your clients don’t consult you when they are selling their home or business, they aren’t going to ask you about a life settlement. If you don’t start informing them of this option… we can assure you someone else certainly will.
It’s time to come inside and learn how to help you and your clients gain additional income in in the remaining months of 2024 and beyond!
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