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On the Life Settlement Advisors blog, we publish a lot of content about how selling a life insurance policy, also known as a life settlement, can help seniors turn an unwanted or unneeded life insurance policy into an immediate cash payout. The benefits here are clear: Instead of making room in the retirement budget for an expensive insurance premium, seniors can add extra buying power to their bottom line. But the benefits of life settlements don’t stop there. As a financial advisor, you stand to benefit immensely from embracing life settlements as an option you can offer your senior clients. Here are just three ways this technique can help you better serve your clients—and your portfolio of work.
Benefit 1: Life Settlements Make Financial Advisors the Hero
Life settlements are by no means a new thing, but that doesn’t change the fact that most people simply don’t know anything about them. Many seniors who have a life insurance policy they don’t want or simply can’t afford to keep don’t think they have many good options for recouping their long-term investment in the policy. So, they take the very low payout from their life insurance carrier for surrendering the policy or, if there is no surrender value, they simply let the policy lapse and lose the benefit altogether. As a trusted expert, however, you have the opportunity to provide senior clients in this situation with a better option: Sell that policy in a life settlement! This is the expertise your clients rely on you for, and it can build even more trust with your valued clients as they navigate the complicated waters of retirement planning.
Benefit 2: Life Settlements Are Easy for Financial and/or trusted Advisors
This all might sound good to you so far, but maybe you simply don’t have time to become an expert in a whole new line of business such as the life settlement market. Well, that’s the best benefit life settlements can offer advisors like you: You don’t have to be an expert to offer them to your clients! Our firm, Life Settlement Advisors, is the expert and we have built our business model around the trusted advisor. We will do all the work, keep you informed of the progress and send you a commission check when the case is complete.
Benefit 3: Life Settlements Earn Financial Advisors Money
We work with financial advisors all the time who approach us wondering if a client’s policy that just doesn’t make sense could be a good fit for a life settlement. Beyond the motivation to serve your clients well, building a relationship with a life settlement company could unlock a revenue source you hadn’t previously considered. Life settlement commissions help compensate you for your time in helping your clients take advantage of this great opportunity.
We’re passionate about educating financial advisors to help them empower their clients toward everything life settlements have to offer. Contact us today to discuss your current clients, and we’ll be happy to help you explore your options and make life settlements as easy as possible for you to offer. And if you’d like to learn more about how life settlements work, and how to talk about them with your clients, download our free resource, “Serving Senior Clients: Turn High Life Insurance Premiums into Financial Liquidity.”
Case Study: Due to declining health, Harold sold his business last year and no longer needed the company owned term life insurance policy. At the recommendation of his financial advisor, Harold sold the term life insurance policy and used the funds to supplement his retirement and pay off his medical bills.
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