Sentences with phrase «of life settlement brokers»

In addition, most states require that consumers are provided with information about alternatives to settlements, risks related to taxation and government assistance, and the licensing of life settlement brokers and providers.

Existing laws and regulations that address life settlements include many requirements, including informational disclosures that owners and insureds must receive before a life settlement can be completed as well as licensing of life settlement brokers and life settlement providers (the policy buyers).

Most policy owners solicit the assistance of a life settlement broker when attempting to sell their policies.

Notably, while advisors and their clients might engage with a life settlements provider directly to facilitate the sale of a policy (and thereby save money by eliminating the brokerage fees), the provider will function solely to purchase the policy themselves (or not), and would not obtain competing quotes from other potential buyers / investors (as that is the job of the life settlement broker).

Not exact matches

Make sure your client understands the privacy implications of releasing medical records and insurance information to the life settlement broker.

If your client is pursuing a life settlement, it is recommended that you work through a broker instead of contacting buyers directly.

The benefit is that the client will save money on the broker's commission fee; however, unless the advisor knows many of the life settlement providers and can generate a competitive bidding process by themselves, the financial advisor risks not getting their client the best deal.

Information gathering — the life settlement broker obtains information about the life insurance policy and the state of the insured's health.

The CEO of Independent Life Insurance Company said, «We believe Independent Life's singular focus on annuities to fund structured settlements will result in excellent service and broker support, as well as upper tier pricing, to improve and help grow the industry.»

A life settlement is often facilitated through a life settlement broker who represents the policy owner and owes a fiduciary duty to the owner, including a duty to act according to the owner's instructions and in the best interests of the policyowner.

You'll provide details of your life insurance policy, along with medical records, to either a life settlement broker or provider.

Life settlement brokers provide an important function of guiding a policy owner through the sales process, including assembling the needed information to complete the sale.

But with proper due diligence performed on the life settlement broker, the life settlement company and any other entity involved in the transaction, an individual should be able to allay all of these fears.

The first major concern about life settlements is the size of the commission the brokers take.

Since then, lawmakers have passed more regulation to protect consumers from such acts — including placing a cap on the commission rate at 30 % of the life settlement value (though some brokers already accept commissions as low as 15 %) and requiring upfront disclosure.

If your client is pursuing a life settlement, it is recommended that you work through a broker instead of contacting buyers directly.

Brokers are primarily interested in policyholders who are in their seventies, or younger if they have a serious illness, says Darwin Bayston, executive director of the Life Insurance Settlement Association.

Information gathering — the life settlement broker obtains information about the life insurance policy and the state of the insured's health.

The Life Insurance Settlement Association has a list of members on its Web site who can broker a sSettlement Association has a list of members on its Web site who can broker a settlementsettlement.