Key Benefits

• Fulfills fiduciary obligation to offer viable alternatives to lapse or surrender.
• 70% of all Senior Life Settlements sold are used to purchase new products such as Annuities and Long Term Care.
• Existing policy remains in force.
• Commissions for Financial Professionals

Commissions

• Referral Fees – paid as a percentage of the face value of the policy.
• Conversion Fees – term policies converted to permanent in order to initiate a life settlement.
• Renewal Fees – the policy that is sold remains in force. The premiums are paid for the life of the insured.
• Funds reinvested – funds from the sale of a policy are often reinvested into a new policy or other investments.

Process

• The policy owner or the financial professional submits an evaluation form with the signed application.
• P&T Financial obtains all necessary documentation (attending physician’s statements, policy illustrations, etc.).
• A Senior Life Settlement offer is submitted for acceptance.
• If accepted, the contract is sent for signatures.
• Change of ownership is completed and funds are released to the previous owner.

Potential Clients
Potential clients are those who are considering lapsing a policy, surrendering a policy, doing estate planning, evaluating other life policies for themselves or a spouse, over 65 years of age.

If you have a potential client please run through our Qualifying Worksheet.

Compliance
We will assist in obtaining the necessary State license information and provide the necessary forms.

For more information view our Case Studies and visit the Resource Center