There’s no better advocate in helping clients meet their long-term financial goals than their advisor. With this in mind, there are many cases where an uninformed client surrenders or lapses a policy that was worth much more than the cash value. That’s why many advisors choose to order an Ashar Secondary Market Valuation (SMV®) to check for hidden value thereby opening up new options for their client.
For example, a 73 year-old male who was a key executive was retiring from his company. He had a $5,000,000 Term policy that he was going to lapse for $0 that had the option to be converted to a Universal Life policy. The advisor ordered an SMV® and discovered that his client’s policy was worth $1,200,000. This “found money” was included in his retirement package and the company didn’t have to take money out of cash flow for his retirement package. Not a bad way to end a distinguished career and a great reputation enhancer for the advisor.
The point is, by doing your due diligence in analyzing the Secondary Market Value, you have the opportunity enhance a relationship and ensure you’ve done the very best to help your client to fund their lifestyle needs. You can also go tohttps://ashargroup.com/policy-value-questionnaire/ to take the first steps in determining if a policy may qualify for a life settlement. It only takes a minute, and it could help uncover significant value that could be a game changer for your client.