Who qualifies? Organizing your relationships/database:
1) 65+ years and older who in your estimation have a 15 year +/- life expectancy
2) Annual level premiums of 5% of the face amount or less until maturity (Premium Ratio)
3) Policy face amount of $100,000 or greater
“90% of seniors who lapsed a life insurance policy would have considered a life settlement had they been aware of the possibility.” Insurance Studies Institute
Questions you can ask your client to uncover settlement opportunities:
1) As part of our service, we have an internal team that does life insurance policy valuation similar to getting real estate, artwork, or jewelry appraised. “Have you had your life insurance reviewed in the last 12 months?”
2) The Big Question - “Are you, or anyone in your family, anticipating lapsing or surrendering any life insurance within the next year?”
3) If yes, “Would you like to see if your policy is worth more than the cash value? You may qualify for a lump sum cash offer or a smaller policy with no future premiums due.”
4) Let’s see if you qualify and get a secondary opinion® of how likely your policy is to qualify for value above the cash value by taking the policy value quiz at https://ashargroup.com/quiz
The results of the quiz will give you an indication of when to call an Ashar life settlement specialist for further discussion. If it looks viable, then we will ask for the following:
• An in force illustration to maturity using the Ashar language we provide you.
• Your Client fills out an inquiry packet for the applicable State. (At the very least a medical questionnaire, Insurance Release, and HIPAA)
• Once all the information is returned to Ashar, we complete an internal medical analysis and price the case.
Within 5-7 business days after Ashar receives all the documents, we will give you a range of potential value so that you can help your client make an informed decision.
The Ashar Group serves as a strategic partner and specialist in the Secondary Market for Life Insurance Settlements. For more information, please visit www.ashargroup.com