ORLANDO, Fla., Nov. 12, 2014 /PRNewswire/ -- Asset Life Settlements, LLC, today announced signs of increased interest in life settlements based on day-to-day communications with insurance agents. The company also noted more rigorous bidding competition among institutional investors for policies sent to market. Both trends, according to the company, benefit senior consumers and point toward growth in the marketplace.
"The interest level in life settlements has surged over the past year in terms of agents wanting to discuss potential cases with us," said Jeff Hallman, company co-founder. "We're seeing an increased number of situations involving multimillion dollar Survivorship Universal Life policies where one spouse passes away and the surviving spouse is saddled with expensive premium payments for a policy they no longer need. When agents are confronted with policies about to lapse, they call us to explore solutions. In today's economy, it's simply not acceptable for senior consumers to leave large sums of money on the table if there is a better option," he said.
Company co-founder Scott Thomas agreed. "There is a change in attitude on the part of agents," said Thomas. "They are excited when they can offer clients a more lucrative option for policies about to lapse or be surrendered. We've had recent success finding buyers for life settlement cases where agents thought they had no opportunity, such as life settlements involving term conversions to permanent insurance."
Industry leaders agree that greater public awareness of life settlements as an effective estate planning tool is critical to sustaining the market's momentum. As part of Asset Life Settlements' commitment to educating agents and consumers, the company recently produced a slide presentation entitled "Five Life Settlement Scenarios that Make Sense to Seniors." Designed for laptop use by agents during client meetings, the presentation illustrates typical life settlement scenarios that seniors can easily relate to.
The industry is poised for growth due to a number of factors, including the nation's aging demographics and new institutional investors entering the market. Says Darwin Bayston, President and CEO of the Life Insurance Settlement Association, "It is encouraging to hear LISA members express an interest and increased activity from agents about a life settlement option for seniors whose policy may no longer be needed or affordable. LISA continues its significant efforts to make seniors aware and educate advisors about the value of life settlements as an option to lapsing a policy."
About Asset Life Settlements, LLC
Located in Orlando, FL, Asset Life Settlements is an active member of the Life Insurance Settlement Association (LISA), the industry's largest trade organization. The experienced professionals at Asset Life Settlements are committed to assisting each policyholder in optimizing the value of their life insurance asset, and they have a proven track record in delivering results. Learn more at www.assetlifesettlements.com, or call 1-888-335-4769.
SOURCE Asset Life Settlements, LLC