Altamonte Springs, FL, (PRWEB) September 29, 2005
Trinity Financial Services, LLC, a full service Life Settlement Brokerage firm attended NAIFAÂs (National Association of Insurance and Financial Advisors) 116th Annual Convention and Career Conference ÂStaying the CourseÂ in Baltimore, Maryland on September 10th through the 12th. While there, it became apparent that the Life Settlement option is still vastly unknown and/or widely misunderstood.
Along with some of the other exhibitors, such as TransAmerica (NYSE: AEG), AXA Advisors (NYSE: AXA) and Wells Fargo (NYSE: WFC); Trinity Financial Services, LLC attended the NAIFA Conference (http://www.naifa.org), with the intention of promoting their Company and Services. However after speaking with numerous Agents and Advisors, it became evident that although there was a general knowledge of Life Settlements, there was an overall lack of thorough understanding. Unfortunately, this lack of understanding prevents many Insurance and Financial Professionals from utilizing this valuable financial option for their senior clients.
Many senior clients have life insurance policies they view as unnecessary because they no longer meet their original need. Before clients abandon old policies, financial professionals should step in and help them recover on these otherwise dormant assets in the secondary market. Determining if selling a policy is a good idea is a relatively easy process for financial professionals.
The National Association of Insurance Commissioners estimated that in 1996 nearly $1.5 trillion face amount of life insurance policies expired, lapsed or was cancelled by policyholders; each policy was a potential source of liquidity, had the owner sold the policy on the secondary market. Actuarial data suggest 40% of all policies on people age 65 and older will not be held to maturity, typically due to changing circumstances. Family situations, asset values, estate tax law revisions, and other varying circumstances, including the difficulty of paying large premiums, often dictate that a policy be reduced or dropped. Life Settlements can be a valuable alternative in such situations.
About Trinity Financial Services, LLC
Trinity Financial Services has been assisting Financial Advisors, Insurance Professionals and their Senior Clients to sell existing Life Insurance Policies. They have also been instrumental in the education, growth and development of the Life Settlement Industry. For additional information on Trinity Financial Services, LLC or on Life Settlements visit http://www.trinityfinancialllc.com or call 866-870-8746.