Life settlement broker transparency refers to the act of practicing full disclosure in costs, fees, and commissions. Life settlement broker transparency is a highly talked about subject in the industry today. The issue of life settlement broker transparency has even been addressed in recent regulation in many States.
In past years, it was not uncommon for a consumer to be unaware of how much of their settlement amount went to cover fees and commissions. Consumers were just given a settlement amount without knowing the original sale price of their own life insurance policy. Today, many States have addressed this issue by mandating a life settlement broker fully disclose what percentage of the settlement amount is being held for commissions and any other settlement costs or fees.
Life settlement consumers should be aware of life settlement broker commission amounts and consider that when accepting offers on their policy.
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