The Life Settlement side of the industry

Posted: Wed May 06, 2009 05:59 pm Post Subject: Your services

If your company is good (haven't done the research yet) I'm glad you're here. Right now I don't have anyone to refer to you, however, I do know of some of my previous clients that could've benefited from your company.

After their accident the bills were all mounting and it broke my heart. You would've thought that after the settlement things would get better, but no...

I sincerely hope someone steps up and helps people like my old client because even after the settlement things don't automatically get better and most times they don't have anyone they can trust to help them manage "all that money" that disappears as quickly as they got it...

Posted: Thu May 07, 2009 01:01 am Post Subject:

as he mentioned they have created a web based acution environment (similar to ebay in format) in which to buy and sell life insurance/settlements. worldlse.com . maybe you can suggest your clients to have a look at his company site and find maybe there are something gorwth on them.
good luck.
tohawk.

Posted: Thu May 07, 2009 05:21 am Post Subject:

repiv888: Not to rain on your parade or anything, but... I strongly recommend that you do NOT solicit business for life settlements in this or any other community without the proper disclaimers. Trading in structured life settlements requires licensure in just about every state, and in certain instances these contracts are considered UNREGISTERED SECURITIES.

Buying and selling these contracts constitutes transacting insurance in most states as well, and as such would absolutely require a life insurance license and possibly a structured settlement license in addition.

Those of you that are considering getting in on the action, you better read the fine print and make sure that you are "good to go" as far as the legalities in your jurisdiction are concerned. Learn everything you can about structured/viatical type settlements before you spend a penny!

Finally, many life insurance contracts offer "accelerated death benefit" provisions which allow the policyowner to get to some of the death benefit prior to the death of the insured. You must meet certain conditions in the policy, of course. I will never say that structured settlements are bad- they CAN be a great method of getting cash money without having to die or surrender for the cash. Just remember- right time, right place, right circumstances and right licensure!

InsTeacher 8)

Posted: Thu May 07, 2009 09:14 am Post Subject:

I tend to disagree with you Repiv that many individuals are looking to sell their life policies. Life insurance settlement isn't an option that would suit all. Only very few might benefit from it.

Further, life insurances are taken to protect the financial interests of the loved ones upon the death of the insured. Remember, life settlement would remove your beneficiary from the policy and hence he/she wouldn't receive the death benefits in the future.

Posted: Thu May 07, 2009 09:31 am Post Subject:

Hi Repiv888,

I'm sure if you're with a legitimate business, then they must be aware of the rules that govern the buying and selling of life settlements. You have not mentioned the type of settlements you're dealing with. I presume you're capable of identifying which of your settlements could be considered as the 'unregistered securities'.

About the disclaimers, if you'd clarify things this could be the best platform to inform people regarding life settlement trade.

Thanks, Pinkfloydfan

Posted: Thu May 07, 2009 10:23 am Post Subject:

If I sell my policy at auction, doesn't the highest bidder have the most incentive for me to die? That's not a very comfortable feeling. I wouldn't exactly be trusting of someone with a financial rooting interest in my early demise.

Aside from that point, the life settlement industry could have terrible repurcussions for the life insurance industry as a whole. This is why most applications now contain application questions concerning the sale of the policy along with most (all?) insurance companies forbidding their agents to be involved with life settlements.

Posted: Thu May 07, 2009 12:34 pm Post Subject:

Repiv888 says:

We have created a web based acution environment (similar to ebay in format) in which to buy and sell life insurance/settlements.

Posted: Thu May 07, 2009 03:50 pm Post Subject:

I will surely suggest it to some of my clients.

Be in Touch.