Asset Life Settlements' Transactions Doubled Over Previous Year

ORLANDO, Fla., Sept. 22, 2016 /PRNewswire/ -- Asset Life Settlements, LLC, a leading life settlement brokerage and secondary market advisory firm, announced that year-to-date transactions of life insurance policies brokered by the company have more than doubled over the same period last year.

"Based on the substantial increase in the volume of transactions that we're handling this year, it's clear that more senior consumers are choosing life settlements as an economically sensible exit strategy for unwanted or unneeded life insurance policies," said Scott Thomas, co-founder of the company.

Thomas described one case that he brokered this year involving a senior with seven policies with a total death benefit of $28 million. "From an estate planning perspective, the policies became unsustainable due to significant cost of insurance increases that were putting the policies and the estate at risk.  After a series of meetings involving the client's financial advisor, CPA, and estate planning attorney, the client opted to pursue a life settlement and I was asked to broker the deal. Following several months of rigorous negotiations, I was able to obtain a settlement involving a cash payment of $5 million along with a retained death benefit of $8 million.  The client and his team of advisors were thrilled with the outcome," said Thomas.

Co-founder Jeff Hallman echoed Thomas' analysis regarding the factors driving the demand. "The advisors we work with tell us that clients are frustrated and feeling chained to insurance products they no longer need." Hallman cited one example involving a retired business owner with three policies, including a key man policy, with a total value of $11.6 million. The client's estate attorney contacted Hallman who brokered a settlement for $2 million in retained death benefit with paid-up premiums, along with a cash payment of $240,000. Hallman's success story was recently published by California Broker Magazine which can be accessed at: http://www.assetlifesettlements.com/wp-content/uploads/2016/08/CA-Broker-Article-Aug2016-ncm.pdf)

Both Hallman and Thomas also added that life settlements are becoming a mainstream product for some independent broker-dealers with a national network of financial advisors. Thomas explained that some independent broker-dealer firms recognize that the life settlement industry has evolved into a more transparent and highly regulated market that offer seniors a more sensible option for unwanted policies on the verge of lapse or surrender. (See http://www.assetlifesettlements.com/life-settlements-address-wide-range-of-consumer-economic-challenges/)

About Asset Life Settlements, LLC

Located in Orlando, FL, Asset Life Settlements has a proven track record of delivering results as a secondary market advisory and brokerage firm.  The company is an active member of the Life Insurance Settlement Association (LISA) and is committed to assisting advisors and policy owners in optimizing the value of unwanted life insurance policies. Learn more at www.assetlifesettlements.com.

SOURCE Asset Life Settlements, LLC

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http://www.assetlifesettlements.com