More Than A Number

If you’re thinking about selling your life insurance policy through senior life settlements insurance, the process can be overwhelming. That is why the best way to complete such a transaction is through an experienced professional such as a broker or provider.

Unlike insurance companies, life settlement brokers and providers work for the policy holder and therefore look out for the policy holder’s best interests. To make sure that you choose a reliable broker or provider, find out whether they are affiliated with recognized trade groups such as Life Insurance Settlement Association (LISA). The following is a quick guide to life settlement brokers and providers and the difference between the two.

Life Settlement Brokers: A life settlement broker is responsible for providing the policy holder with free policy analysis to determine an estimated market value. Since the broker is working on behalf of the policy owner, he or she will attempt to find the best possible offer from buyers.
Life Settlement Providers: A provider is a company that specializes in buying life insurance policies in the life insurance settlements market. These providers will gain funds from institutional investors and keep the policies in-force with money from the financing institutions.

The best option is typically a broker – such as Advanced Settlements – because a broker will solicit multiple competitive bids on behalf of the policy holder.  The only benefit of working with a provider is that there is no middle man.