Feature: Settlements spur some carriers to terminate producers or consider policy rescission

By Linda Koco - Once a life policy has been settled, 50% of direct writing life insurers say their company procedure is to "terminate producers circumventing the system" and 33% say they would "consider rescinding the policy if it is sold," according to a new report. Brian Smith, president of the Life Settlement Institute, Hudson, Ohio, says that's "anti-consumer," but David N. Wylde, chairman of subcommittee issuing the report, believes those same responses are "proactive" for…

consumer's right to sell policies

Ask the expert: How does straight through processing help?

Question: If my broker uses "straight through processing" for the policies I submit for life settlement offers, how does that impact the outcome for my clients?

two-fold answer

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more value, consumer confidence

Settlement and related news from National Underwriter

	Florida agent accused of stranger originated life insurance fraud
	New York completes life settlement rules
	Wisconsin settlement bill sent to governor
	Firm unveils portal for life settlement portfolios
	Settlement firm settles suit
	Settlement firm opens United Kingdom office

Quiz question: Are seniors aware of settlements?

A recent survey found that what percentage of seniors are unaware of the option to sell unwanted life policies as a life settlement?

a) 95%
b) 73%
c) 49%
d) 21%
e) 0%

the unaware seniors

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