When Is a Good Time to Talk With Clients About Life Settlements?

And as mentioned above, term policies can be sold, truly bringing value for an asset that has no inherent cash value.

Looking for Funding for Long Term Care Costs?

Is your client looking for ways to fund assisted living, memory care, home care, etc.? Evaluating a life insurance policy makes sense.

Does the policy have living benefits like accelerated death benefits, critical illness or long-term care benefits?

What happens if the policy does not have these provisions?

Selling a life insurance policy may be able to bring the needed funding and support for clients.

A ”Win-Win” solution

A life settlement generates cash from an asset that your client probably does not know they have, thus generating “found money”.

Clearly, this is a win for your clients, but also for you.

Besides fulfilling your fiduciary duty to your clients, life settlements help your business as well.

There is a revenue opportunity from the sale, but a potential for additional product sales and assets under management.

Referral Sources: Centers of Influence

Besides helping your current clients, life settlements can also be a good way to assist and attract new clients, growing your business.

A wide array of professionals in your current network may have clients that can benefit from a life settlement, and they need your assistance.

In particular, elder law attorneys, CPAs, charitable organizations, fiduciaries, health care organizations, insurance agents, and reverse mortgage professionals all have clients (or donors in the case of charitable organizations) that may be able to benefit, and directly benefit their businesses as well.

To be clear, life settlements are not for everyone.

But, if you and your client have decided that a policy is no longer wanted or needed, and the decision has been made to lapse or surrender the policy, a life settlement can offer significantly greater value.

If you are not speaking with your clients about life settlements, someone else may be.

Lisa Rehburg is president of Rehburg Life Insurance Settlements, a life insurance settlements broker. She can be reached at (714) 349-7981.