Life Settlements
In addition to traditional Financial Planning, Estate Planning and Insurance Planning, Conry Financial Services Inc., specializes in the appropriate use of the Life Settlement process, one of the newest financial opportunities, available exclusively to seniors. Since 1998, Conry Financial Services, Inc. has been assisting clients with the use of Life Settlements (also known as Senior Settlements), which is the sale of an in-force life insurance policy, to an institutional funder, for more than the cash surrender value offered by the insurance company. Until the advent of this secondary market, there were no outlets for a policy owner to maximize the value of their policy, beyond the cash surrender value, which is dictated by the issuing insurance company. This age old monopoly prohibited the consumer from realizing the current “fair market value” of their life insurance policy.
Today, life insurance policies are “appraised” for their “fair market value” based on
- the current age of the insured,
- the current heath of the insured,
- the size of the death benefit,
- the financial ratings of the issuing company,
- premiums required to support the policy over a predetermined time period.
- this approach can result in a cash buy-out of as much as 2 or 3x’s (more in some cases) than the traditional cash surrender value of the policy.
Although there are similarities which do exist between planning firms, at Conry Financial Services, we combine well over 15 years of experience in the Life Settlement process with a keen understanding of our client’s goals, and objectives and take pride in developing unique, safe, time-tested strategies to help seniors meet their financial objectives. But not all planning firms have the experience, infrastructure and the Due Diligence process in place, to guide you through the maze of file preparation, Settlement Providers, and legitimate offers, when contemplating a Life Settlement.
The Life Settlement process is not right for everyone. Selling your life insurance policy to a stranger is an unfamiliar concept to most individuals. Conry Financial Services can guide you the maze of Life Settlement options by utilizing our policies and procedures, along with our network of professionals, to help you maximize the value of your policy without unnecessary risk;
- Reputable Network of Institutional Buyers.
- Reputable Life Expectancy Report providers.
- Extensive experience in policy preparation to maximize the “sale price” of your policy.
- Extensive experience negotiating the “sale price” of your policy.
- Extensive experience in designing a new policy (when appropriate) that may reduce, or even eliminate ongoing premium payments.