The Insurance Studies Institute recently released a new Consumers’ Guide titled Should I Sell My Life Insurance Policy? I have read through the guide and found it to contain very useful information for potential policy sellers. I think that brokers can use the guide as a tool for educating clients who may be considering a life settlement. Also, for seniors looking for information who may be studying the life settlement industry, the guide provides valuable information for understanding the process and answering the most frequent questions raised when considering a life settlement or going through a life settlement transaction. In addition, the guide provides useful links to find further information so that seniors can make an informed decision about whether or not to sell a life insurance policy, and, if so, what to expect in the process. Furthermore, through the guide and supplied links, seniors can learn about what their rights are and who are the companies licensed to enter into life settlement transactions.
I continue to believe that one of the challenges that exists in the life settlement industry is that seniors and the people who work hard to represent seniors’ financial interests do not know enough about the life settlement industry. ISI’s new consumer guide is a good tool that can be used to help educate seniors and their advisors about life settlements and how to best approach the process.
You can find the Consumers’ Guide by clicking here.