Not everyone who holds a life insurance policy wants to keep it. Perhaps the premiums don't fit into their budget any longer, or they simply don't want the coverage any longer. For whatever reason, the vast majority of life insurance policies in force today will lapse without a benefit being paid. Insurance companies know, and survive on, this fact - the fact that about 85% of UL policies will never pay a death benefit make them a profitable bet for the carrier.
Your clients have an alternative to simply letting their policies lapse, however. Through the use of a "life settlement," that policy can be sold on the secondary market to secure a lump sum of cash for your client. That's a no-brainer - between letting the policy lapse or selling it for a lump sum of cash, which would your client prefer?
Please note that this is a Guest Webinar presented by Mr. Andrew Rubin. The ILIAA never gets involved in your contracting or the submission of your business, so if you'd like to work with Mr. Rubin on some life settlement business, please feel free to contact him directly. Rest assured that the ILIAA will never profit from any business you write here. Mr. Rubin can be reached at: