Senior Life settlement

[patch36]

Are these the same as viaticals?

 

[myinsurebiz]

My company is a life settlement brokerage firm and we advise all clients to work with at least 2 to 3 brokerage companies. The best way to insure full disclosure is to add the element of competition.

What? I mean if involving our competition works - so be it.

Are these the same as viaticals?

I believe so . . .

I have a friend that does them - the commissions are obscene.

Tom

 

[R. Paul Aguirre]

Are these the same as viaticals?

Viaticals are similar to Life Settlements but are regulated differently in most states. A Life Settlement is considered a viatical when the insured has less a life expectanecy of 2 years or less.

And yes the commissions are very large.

 

[patch36]

Some of the companies I have worked with will fire you if you sell this kind of product. To each their own, but I have seen some very bad things on this side of the universe.

 

[lifesettlementadvisor]

My company is a life settlement brokerage firm and we advise all clients to work with at least 2 to 3 brokerage companies. The best way to insure full disclosure is to add the element of competition.

That is the worst advise from someone in the business. Any good broker will tell you NOT to do this. If you use multiple brokers. Your case will end up at the same funders desk multiple times. This will either devalue your case or kill it, no matter how good of a settlement it might be.

 

[jimsthename]

That is the worst advise from someone in the business. Any good broker will tell you NOT to do this. If you use multiple brokers. Your case will end up at the same funders desk multiple times. This will either devalue your case or kill it, no matter how good of a settlement it might be.

I will take exception that you insinuate that I am not a good broker because I have a different view.

As you know many funders take cases on a first come basis, so cases submitted later by other brokers are simply not recognized. They are not automatically devalued or killed. I do agree that excessive shopping of a case can devalue it, which is why I only recommend 2 maybe 3 brokers. Another point is that good cases will always get worked. The scenario you describe happens typically to bad cases that don't price and eventually get over shopped. I have been in countless situations where the result of competition is very pro-client. Either the brokers had to sharpen their pencils, or the mix resulted in more funder offers.

I would also recommend that anyone looking for a "good" life settlement company start by visiting the life insurance settlement association's website.

 

[DarrylVK]

Probably the best "life settlement" is a deal with the devil - immortality!

Trouble with his immortality is most of it will be spent in a pit of fire!

 

[lifesettlementadvisor]

Milestone is a cool company, they are one of the few guys that have programs for small face amount life insurance. I think they will take a policy down to 50K of face.

 

[StrategyMan]

I have no ethical dilema with selling a life settlement. Money is money is money. The life companies have been making plenty of it for years. A life settlement is just a way to turn the tables and let the consumer make a little money in return. We are the beneficiaries because we get to be the middle men.

Oregon Health Insurance, Portland Life Insurance, Portland Health Insurance

 

[SBSpartan]