When a client decides to pursue a life settlement arrangement, more often than not it is because an influx of capital is needed to fund a long-term expense like health care. This is why it is very important for the client’s advisor get assistance from a life settlement broker to make sure that multiple bids from different providers are acquired to ensure the most competitive offers. This is key, because multiple bids from the same provider is not achieving fair market value, that’s simply achieving what the provider wants to pay.
A life settlement can provide many times the surrender value to the client when competitively bid right. That’s why it is also important for an advisor to do their research and retain the services of a respected and nationally licensed brokerage firm that has experience and a good industry reputation as a life settlement broker. These secondary market brokers are familiar with the key players and can help get the the best market value for the client.
If you are in a position where you think it would be prudent to consider alternatives, talk to a secondary advisor. You can also go to https://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 save your clients thousands.