About Us
The Truth
The truth of the matter is more seniors could be selling their life insurance policies. Several years ago the Life Insurance Settlements Association (LISA) began collecting data on the life insurance settlements market, which gives policy holders a chance to sell in-force policies to investors.
According to LISA members (represent 95% of the market), in 2024:
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2,699 life settlement transactions were completed
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$601 million was paid to consumers for the sale of their unwanted life insurance policies
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$511 million was the difference between the total amount paid to the consumers and the amount the consumers would have received if their life insurance policies had lapsed or was surrendered.
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$222,807 was the average amount a policy holder involved in a life settlement received after completing the transaction.
Why Work With Us?
First and foremost, we work with a team of life settlements brokers who have a fiduciary responsibility to you to market your policy to obtain the highest amount of money for it as we can. We have the power of leverage, which providers don't have because it is not in their best interest.
Providers are trying to buy the client's life insurance policy for as little money as possible. When our team gets involved, things change. Our team has access to many different providers, leveraging them against each other to maximize value for the client. Competition drives up the price for providers, and the value for clients.
Some recent client examples include:
Opening offer $90,000 - Closing at $225,000
Opening offer $60,000 - Closing at $225,000
Opening offer $40,000 - Closing at $230,000
Opening offer $20,000 - Closing at $55,000
Having so many providers allows our team to place more clients' policies. Also, a life settlements broker must disclose all offers made on a policy and by which provider, making the process very transparent.
Some providers tell you that they have access to many funds; however, our team has many providers with many funds, so you get the best deal for the policy. Providers do not have a duty to disclose all offers. In this market, the more providers with funds that see a client's policy, the better the leverage and the better the opportunity to obtain the highest offer for a client's policy.
Some providers encourage you to come to them because you don't have to pay a commission. This is true. However, consider the examples above. Each of those clients, had they gone to a provider directly, very well may have sold the policy for the opening offer. There are no "comps" as in real estate. Only when a policy is marketed, will a client know the maximum amount that will be offered for a policy.
In conclusion, there is a big difference between a provider and a broker, and My Senior Life Settlement wants to work with you to get you the best offer.
Don't Miss Out!
If you want to keep your coverage, you should. However, if you have decided that lapsing or surrendering your policy makes the most sense, consider one more option: Selling your policy.
You may be missing out and My Senior Life Settlement is working as an advocate for seniors, providing information about life settlements and making referrals to a dedicated life settlement broker who will assist you in receiving some of the best offers available for qualified life insurance policies.
According to LISA, policies with a total of more than $100 billion of face value are lapsed by seniors over age 65 each year.
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No Obligation Appraisal
If you find yourself with an unwanted or unaffordable life insurance policy, it's crucial to consider exploring the option of a life insurance settlement. You can take the first step by filling out a brief summary of your information for a no-obligation appraisal of your life insurance policy.