21st Services Introduces an Economical Prescreening Tool for Life Settlement Cases: The CLPR

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21st Services has announced that it is offering prescreening for life settlement cases with its new evaluation tool, the CLPR. Clients provide their own medical information, either online or in a phone interview. The release coincides with the introduction of online enhancements for the company's main life expectancy evaluation and the launch of a new company website.

21st Services has announced that it is offering prescreening for life settlement cases with its new evaluation tool, the CLPR.

The CLPR (which stands for Customized Longevity Planning Report) is based on medical data provided by the client in a structured questionnaire, either online at 21st Services' website, http://www.21stServices.com, or in a phone interview with a 21st Services representative. Whether on the computer or on the phone, the questionnaire takes approximately 15-20 minutes.

The cost of the phone or online CLPR is less than the company's regular life expectancy evaluations. 21st Services' Chief Marketing Officer Jeanne Bailey said, "Our customers are very pleased that we have come out with this new report. The electronic version - the eCLPR - is 80% less expensive than a full LE. At a minimal cost, a broker can ascertain whether the client is likely to qualify for a life settlement. The broker only has to pay for a full LE in those cases where he or she is highly likely to close the case." A CLPR is not an official life settlement certificate, so it can't be used to close a life settlement case.

Ms. Bailey said, "For the life settlement broker, the CLPR can point the way to other products and services that can be of value to the client, even if the client turns out to be ineligible for a life settlement. We initially developed the CLPR to support financial planning - giving a planner insight into the client's longevity so they can provide good advice on investment strategies, insurance and annuity purchases, long-term care planning, retirement planning, estate planning and more.

The CLPR works well for clients who have a good understanding of their current conditions and medical history. The client's information goes directly into 21st Services' proprietary software system, and it is analyzed in exactly the same way data extracted from medical records would be analyzed.

The CLPR result is available in just a few minutes after the information is entered. The report includes the client's longevity curve, compared to a "standard" mortality curve. The ages at which the client's survival probability is 50%, 30% and 10% are highlighted.

The process is very easy for a broker. They simply ask their client to go to http://www.21stServices.com/prescreen. There the client can decide whether they prefer the phone or online process. If they want the online eCLPR, they will go ahead and complete the questionnaire online and pay online by credit card. If they prefer the phone interview, they dial the phone number on the web page to set up the interview.

Also available online: LE ordering, status and delivery

Beginning February 16, 2009, all 21st Services clients can order the company's life expectancy evaluation online and view the current status of their pending LEs on http://www.21stServices.com. Once the underwriting process has been completed, clients will be sent an "LE Completed Notice" by email. It will direct them to log in to the company's secure system to view, download and/or print the completed LE certificate. The data from the certificate will also be available in XML format.

Besides the new LE and CLPR ordering and service functions, 21st Services' website has been improved in many other ways. To see it, go to http://www.21stServices.com.

21st Services provides longevity analysis tools to the financial services industry. The company's headquarters are in Minneapolis, MN.

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