Ojai Life Settlements

03/03/2024

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08/11/2023

07/18/2023

CARRIER RESISTANCE TO LIFE SETTLEMENTS:
CLIENTS NEED TO KNOW THEY CAN SELL THEIR POLICIES
Consumers who sell their life insurance policies in the life settlement market receive as much as seven times more money than they would have received by surrendering their policies back to the insurance companies. Seven times! However, an estimated 9 out of 10 policies are allowed to lapse before paying a claim, according to the Life Insurance Settlement Association.

One key factor that contributes to such a startling lapse rate is the disturbing practice by powerful life insurance carriers of concealing the life settlement option from their own policy owners.

Carrier Resistance to Life Settlements
Life insurance agents have faced significant pressure from life insurance carriers to not disclose the possibility of selling a policy. Why? The insurers would strongly prefer for an unwanted or unneeded policy to simply lapse or surrender - they reap the financial benefits of such a decision by merely paying out the cash surrender value (if any), rather than ultimately paying the full death benefit at maturity.

Consider this actual example from November 2019. A financial advisor has a client who owned a life insurance policy with a $10 million death benefit, but the client decided that his beneficiaries no longer needed the coverage and he no longer wished to pay the substantial annual premiums. He was on the verge of surrendering the policy back to the carrier for the cash surrender value of $277,000, a seemingly good payout considering the circumstances. Thankfully, the well-informed advisor instead recommended exploring the potential value of the policy in the secondary market with life settlement broker Welcome Funds. The firm performed an internal appraisal of the policy and immediately told the advisor that it could obtain far greater value for the client by selling the policy. Welcome Funds conducted an auction with its network of life settlement providers and ultimately sold the policy for $5 million, nearly 20 times greater than the cash surrender value the client was on the verge of collecting from the carrier. 20 times!

03/05/2023

Like any other asset, a life insurance policy can be sold for cash. But how do you know if you receive a fair offer from a buyer? You probably don’t, but we do!
We can help by establishing a bidding war between multiple direct buyers who compete to purchase your policy then you choose the best offer for you and cash in on it.
Let us negotiate for you and get you the highest offer!

02/02/2023

When Buyers Compete, Policy Owners Win!

Ronald purchased a $300,000 Universal Life policy back in 1999 to provide his wife with financial security. Unfortunately, after 20+ years, Ronald could no longer afford the premium payments as his healthcare costs were mounting. One day, while watching the evening news, Ronald saw a TV commercial from a direct buyer, called a life settlement provider, about selling a life insurance policy for cash. Ronald decided to call the direct buyer and after weeks of waiting, he was offered $10,000 for his $300,000 policy. Ronald said, “no way,” and decided to investigate other alternatives. Ultimately, Ronald decided that a life settlement broker, who would contact multiple companies to maximize the purchase price, would be his best option. After extensive research, he chose Ojai LifeSettlements. Ojai Life Settlements conducted a transparent auction securing a total of 22 offers. In the end, Ronald received a check for $64,800, 548% more than the offer extended by the direct buyer!

Let's schedule a free, no-obligation consultation to discuss your options when it comes to selling your Life Insurance policy. Know your options!

02/02/2023

A Life Settlement may be right for you if you have an unneeded and unwanted life insurance policy that has high monthly premiums.