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He broke selling your life away now according to our next guess more more people are selling their life insurance policies for cats right now.
Lot of it's because there's fear that the economy looking for options with a more let's bring in Scott page is the CEO -- lined up the lifeline program.
Scott welcome back to show.
Good morning it's pleasure beer it's got this is this is one of these things that when people initially hear it.
There are some serious emotions on both sides some people think that this is just outrageous and that older people should never consider this type of program.
And others say while this is something of a -- particularly in a bad economy help us out -- both sides of the argument.
-- I think those that are are are considering the fear just don't understand it you know life settlements have been around for about 25 years.
And actually provides a great opportunity to take a life insurance policy that most people view as a liability.
They pay the premium every year and never actually believe that they can -- that policy for the cash they need today they can help them enjoy their golden years with more.
OK but they do believe they will pass away at some point I don't they -- -- -- -- Not to get their -- -- intent what I thought when you sign up for life insurance and you understand.
What it's all about.
Where does -- change what what makes me change from the moment I signed up -- am willing to pay X amount of money every single month.
To the point -- that's now worth that I want to cash -- and how does that dynamic changed so much.
Actually because let's face it life changes you know people -- life insurance for a specific reason the people that are considered selling a policy today no longer need them or want them.
In -- faced with they -- the policy to make to their children to go to college -- prepare for contingency in the event of their death.
Now they need to worry about themselves are faced with paying this large premium every year and the only option they had to surrender it back to the carrier.
A life settlement can pay up to 8108 to ten times more than the capture undervalued and simply surrender and it with the carrier.
-- -- settlement also brings for the measurement to a bit of emotion that everyone needs to face or mortality.
I think Benjamin Franklin put it best the only guarantees in life.
Is death and taxes were all gonna die at some point I'll -- we've all been blessed with the new news which -- -- the good news bad news.
The good news is -- and live a lot longer the bad news is how we're gonna pay for -- Senior try to start thinking -- more -- less traditional values and think outside of the box.
They -- think such a good example like settlement or even a reverse mortgage.
-- cannot -- Nicole panel -- here I quick question for you when you're talking about whether people needed or they don't want an.
I mean ultimately it came just blame the economy and and make this similar to higher -- -- retirement plans people are cashing out.
If they don't needed or they don't want to.
Have a choice right I mean it just the times it -- like -- your jewelry dipping into your retirement funds selling life insurance policy.
Well actually the demographic of selling policies are leaning towards more the wealthy healthy individuals these are people that -- -- estate planners are there financial planners.
Who are finally recognizing what settlements of an option or looking at their total package and saying you know what we have a trust here this trust is being diminished by -- life insurance -- For a large policy that you do no longer need.
Some of the characteristics of our clients for example -- key man.
People have been -- working for a company for years they leave the company they're given the life insurance policy and Scott okay what I do with the best candidate says it's got to essentially also sounds like which is saying is that a lot of people are saying you know what.
My kids are going to squander all my hard work I.
Might as well squander -- -- I think a lot of wind whipped pretty -- exactly how high up better than it is good to we'll talk you give them.
Well again it's all.
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