A recent life settlement agent survey was conducted and the results are telling.
First, the average life settlement agent is inexperienced. The survey suggests only 2 out of 10 agents have conducted a life settlement transaction. The second is that 46% of seniors have let a life insurance policy lapse.
This information says two things. There is a definite need for seniors to have a life settlement option. Many of these policies did not need to lapse, leaving the insured out any money that was put into the policy and nothing to show for it. In addition, it is going to be hard to find a life settlement agent who is experienced. The life settlement industry is growing and there is a lot of advertisement for a life settlement agent. It is important to work with a settlement agent that is eager to assist seniors in making the most of their assets. However it is equally important to work with an agent that is experienced and not just enjoying the industry boom.
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