ORLANDO, Fla., Feb. 23, 2011 /PRNewswire/ -- Advanced Settlements, Inc. announced that it has recently established relationships with three new funding sources. These companies are prepared to devote significant capital toward the purchase of insurance policies in the secondary market. The fact that new capital is entering the marketplace is a strong indication that the market for life settlements, and the settlement industry in general, are rebounding.
A life settlement is the sale of a life insurance policy to a third party for less than the full amount of the death benefit - but more than the policy surrender value. The primary candidate for a life settlement is an insured who is at least 70 years old, has a life expectancy of less than 15 years and has owned a life insurance policy with a face value of at least $250,000 for at least two years.
The three new funder relationships join Advanced Settlements' existing network of funding institutions, giving the company access to over 15 funder sources. "Based on our survey of our funders, we believe we will experience an increase in pricing activity through 2011," said Scott Kirby, Advanced Settlements' co-president.
Advanced Settlements celebrated its 10th anniversary in December 2010 and is considered a pioneer of the settlement industry. 2011 could be a strong year for the company according to Kirby. "Research published by the Pew Research Center indicates that an average of 10,000 baby boomers will turn 65 every day over the next 19 years," said Kirby. "As more potential settlement candidates and new funding sources enter the marketplace, we can't help but feel optimistic about opportunities on the horizon for our industry and for consumers looking for alternatives to surrendering a policy or allowing it to lapse."
About Advanced Settlements
Founded in 2000 in Orlando, Florida, Advanced Settlements, Inc. is a life settlement industry leader and pioneer. Advanced Settlements is a wholly-owned subsidiary of National Financial Partners Corp., a leading provider of benefits, insurance and wealth management services. Advanced Settlements provides seniors with a powerful estate planning tool and a potentially profitable exit strategy from unwanted or unnecessary life insurance policies. The company may be reached at 1-800-561-4148 or at advancedsettlements.com
SOURCE Advanced Settlements, Inc.