According to research from the Insurance Studies Institute, more than 500,000 individuals lapse their life insurance policies, 2 million surrender their policies each year, yet only 3,000 took advantage of a life settlement.
About 90% of seniors report that they might have considered a life settlement if they had been made aware of the option.
HAd no idea you could sell term ins. Who would want it?
Why would a senior do that?
Are these like 100K policies or 1million? What do u see generally?
If adult child has POA can they sell parents' policy? Many fall a few dollars over to qualify for benefits, & yes if kids r set, they'd rather not use their own $ for long term care.
If they got $100-250k policy, how much could they sell it for? What is general %.
what is the service fee for selling the policy
Good explanation, are you saying insurance companies are for or against life insurance settlements? Explanation still not clear. thank you
This helps, thank you. Insurance company they know with investor owning policy and paying the premium, insurance company know they will eventually have to pay a claim, point is time just don't know when. much clearer, thank you
What if policy has accelerated death benefit, of sell policy do you lose ability to use this long term care benefit if you need that benefit?
12:11:29 From Steve Gurney - ProAging Community : Established in 1994, the Life Insurance Settlement Association is the oldest and largest trade organization in the life settlement market. https://www.lisa.org/
12:16:31 From Elizabeth Singleton : Elizabeth Singleton, SRES realtor with Samson Properties
12:18:10 From linda arret : seems many restrictions on FEGLI: want to sell and to stop paying premiums, but OPM states essentially this is not possible. What ca we do with a FEGLI policy we no longer want, tha we ant to "get back" its value, up to some point
12:27:22 From linda arret : fegli federal emplouee group life insurance
12:27:35 From Joe Sperling : One important reason for considering life settlement is when a person needs Long-Term care but has no LTC policy.
12:29:33 From linda arret : all tat you are saying is what we have heard and know, from talks with OPM. we are tally boxed in, when we want to be rid of the policy and to realize some of its value NOW
12:33:58 From linda arret : thanks!!!!
12:34:00 From Steve Gurney - ProAging Community : Lisa Rehburg
Helping People Benefit from Unwanted/Unneeded Life Insurance Policies
(714) 349-7981
rehburglifesettlements.com
Desert Living Show - Intro Video: https://vimeo.com/322876411
CA License #0825962, NIPR #2552103
12:34:03 From Steve Gurney - ProAging Community : lrehburg@aol.com
12:34:52 From Elizabeth Nolte to Hosts and panelists : The example that Lisa gave, did the buyer of the policy have to continue paying the $2500 premium?
12:37:37 From Steve Gurney - ProAging Community : Troy Wirth
Investment Adviser Representative
CA Insurance License #0B90902
InGen Strategies, LLC
Wirth Financial & Insurance Services
troy@wirthfinancial.com
Tel 949-854-4695
Cell 714-381-8769
www.ingenstrategies.com
www.wirthfinancial.com
12:40:56 From Steve Gurney - ProAging Community : 2022 LISA Member’s Annual Market Data Released https://www.lisa.org/article_content.asp?edition=3§ion=4&article=46
12:50:03 From Joe Sperling : Insurance companies count on a percentage of policies lapsing.
13:00:28 From Steve Gurney - ProAging Community : Lisa Rehburg
(714) 349-7981
lrehburg@aol.com
Rehburglifesettlements.com
13:02:15 From sybil harrington : Thank you. This has been so enlightening!
13:02:35 From Deb Wilburn to Hosts and panelists : I'm coming into this webinar a little late. Are you talking about individual life policies not group policies?
13:02:38 From Elizabeth Nolte to Hosts and panelists : What’s the downside for the investor if any?
13:03:02 From Troy Wirth to Hosts and panelists : Good questions, Sybil!
13:03:04 From Elizabeth Singleton : wonderful information! Thank you all!
13:03:32 From Deb Wilburn to Hosts and panelists : Okay. Will do.
13:05:02 From Elizabeth Nolte to Hosts and panelists : I knew nothing about this. Learned a lot. Thank yo!!
13:05:08 From Courtney Nalty : I have learned so much. Thank you!