Old Term Policies Can Be “Found Money” for Seniors and their Advisors
Any financial adviser or insurance agent who’s reading this post should stop what they’re doing right now, and start developing a plan to reach out to every person that they have ever sold a term policy. Dig into your files and find all your term clients, and quite honestly, the older the policyholder the better. […]
Appraise a Life Insurance Policy Before Letting It Lapse
Financial advisors spend a great deal of time studying market trends and learning about the best ways to manage money for their clients: understanding stock market history, teaching the magic of compounding, and explain the present value of money, among many others. I applaud them for their diligence in helping people save money for retirement […]
2021, A Life Insurance Policy Appraisal Can Help Determine Taxation of Settlement Proceeds
Insurance agents and financial advisors fill many roles for their clients. Of course, they offer financial advice, but they also are asked about accounting and tax questions. Sometimes they also act as business coaches and even amateur psychologists. As we enter the new year, the economic situation for many will get tougher, and clients will […]
Paperwork, Process, and Profits: Why Life Settlements Should Start with an Appraisal
Agents and advisors who are new to life settlements often ask about the difference between an application and a policy appraisal. Does one replace the other? Is an appraisal necessary? Which comes first? I would like to answer this by describing the three key differences between an application and an appraisal. And because everyone likes […]
Plunge in U.S. Life Expectancies Can Lead to Higher Life Settlement Policy Appraisals
Last spring at PolicyAppraisal.com, we wondered aloud about what effect the Covid-19 pandemic would have on life insurance policies. Sadly, we knew that many people were going to succumb to the coronavirus and that this would likely have an impact on life expectancies and how insurance companies view individual policyholders. At the time, we spoke […]
Determining the Value of a Life Insurance Policy has Never Been Faster
More than 25 years ago when we first started working in what would become known as the life insurance settlement industry, it was a brave new world. Most insurance agents didn’t understand how the industry worked or how secondary market pricing was determined. Many agents and advisors didn’t know if life settlements were legal while […]
Understand How COVID-19 Impacts Life Insurance
COVID-19 turned all of our lives upside down and caused varying levels of mental, emotional, and economic strain. Months after the initial lockdowns, people and businesses are still feeling the effects – and it’s having an impact on life insurance. Options if your client can’t afford premiums First, let’s talk about what to tell clients […]
Body Weight, Longevity and Policy Appraisals Go Pound for Pound
Understanding how long a client may live is a key factor in financial planning, and this should influence how much and what type of life insurance is recommended by agents. Most individuals may think about their longevity when they first purchase insurance, and then they forget about this aspect of their plan and leave their […]
Top 5 Reasons to Recommend a Life Insurance Policy Appraisal
5 Top Reasons for Life Policy Appraisals that Take Advantage of Inappropriate Coverage. For insurance agents who haven’t yet counseled their clients about life insurance policy appraisals, here are the five top reasons to recommend an appraisal today. If a client is planning to let a policy lapse. If a client is considering letting a policy […]
New Technology Enables Agents to Text Questions to PolicyAppraisals.com
When we first started working with the life insurance industry, it was utterly dominated by paper. Getting any information from an insurance company took seemingly forever, often requiring multiple conversations and repeated attempts to get information. The same was true when securing medical records and trying to get applications completed. Some months it seemed like […]
