Beware of Bogus Life Settlement Offers

Aug 13, 2008

  1. SettlementGuy
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    SettlementGuy New Member

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    Hello,

    I am writing this to all people interested in life settlements. Please do not allow brokers to hide the true offers from you and your clients. Make sure the broker tells you the true offer and puts it in writing. As someone who has closed over $1 billion in face since 2003 and who receives cases from "the experts" on this site, I have seen it all.

    Also, ask the firm to guarantee the highest offer so you do not waste your time playing poker.
    Good Luck
     
  2. jimsthename
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    jimsthename Expert

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    are you a broker?
     
  3. Mr. Bill
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    Mr. Bill Guru

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    Very very true. Most people don't even know about the auction clearinghouse, nor how much the broker is getting paid. What can ultimately happen is, well, you'd have to move very far up the food chain from pre-paid legal!
     
    Mr. Bill, Sep 12, 2008
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  4. gklein
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    gklein New Member

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    Your point is good and unfortunately, has been one of those things that take away from the reputation of the good life settlement companies out there.
    GWG Advantage defines all compensation up front, prior to the transaction even taking place, and discloses in writing the highest 7 (if received) bids. Full disclosure, period.
    Now, no one can guarantee the highest offer, ever. The proper steps and due diligence can be taken to get the highest fair market value, but this is like selling a security on the stock market, and is very volatile, especially now.
     
    gklein, Nov 12, 2008
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  5. lifesettlementadvisor
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    lifesettlementadvisor Guru

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    How much of a commission does GWG Advantage take on an average case? How much is given to the agent? In cases that you use an IMO to attract cases (like with Mark) how much is given to that referral agent?