Manhattan Beach, CA (PRWEB) January 15, 2013
Opulen Capital, an established life settlement broker announces the release of its new services – aimed at providing insured citizens with the full benefits they deserve. This is in light of a report made by the Life Insurance Settlements Association (LISA) to the National Conference of Insurance Legislators (NCOIL).
LISA, as represented by its president, Darwin Bayston and other members, discussed in the recent Fall Meeting with NCOIL, explained how some insurance companies use unfair practices to hinder insured clients from opting for life settlements.
In its presentation, LISA stated particular facts showing how insurers have interfered with the right of consumers to access their information, as well as their failure to objectively provide consumers with the full benefits they deserve. On a more specific note, it explained that some insurers were unable to pay interest on death claims, despite being obligated – both statutorily and contractually – to pay. In addition, LISA showed how some insurance companies have made it hard for life settlement companies to obtain verification of coverage. In some instances, insurers would even change ownership data, without authority from the insured.
In response to these claims, the American Council of Life Insurers (ACLI) issued a letter trying to explain their actions. However, those from the life settlements industry believe that no explanation to their allegations were clearly made. To many, the letter merely wanted to give the impression that the life settlements industry was out to put life insurers in a bad light - although the latter signified its willingness to meet with LISA to settle these issues once and for all. Those from the life settlement sector, on the other hand, refuted such claims by the ACLI –although mutually signifying its clear interest to settle these controversies for the benefit of all parties. On the part of NCOIL, a number of legislators and one regulator at least, showed a keen interest in the issues raised by LISA, especially about insured consumers and beneficiaries not being able to get the necessary interest on their death claims. As it is, all parties await for further developments.
Steve Ingles, managing director of Opulen Capital, a well-respected life settlements broker, issued a statement regarding the matter:
Ingles said: “I am really hoping that the life insurance industry starts playing fair and stops using such schemes and tactics. All of us here are in the business of providing people with the services that they will need to better their lives. For us in the life settlement industry, our only aim is to provide people with more for their unwanted or unneeded life insurance contracts. This is why Opulen Capital has undertaken a proprietary system that allows insured seniors to get what they truly deserve.”
He added: “If people are unable to pay their insurance anymore or want to surrender them, they can always opt to sell their insurance policies to life settlement providers and get financial benefits of 2-5 times greater than its cash surrender value. Through this, the insured parties are able to get the benefits they deserve, while insurance companies still get their due. It’s as simple as that.”
About Opulen Capital
Opulen Capital is an established life settlement broker based in Manhattan Beach, California. This financial services firm offers its expertise and knowledge most especially to senior citizens who want to have the full financial benefits they deserve. For more information, do not hesitate to call Opulen Capital at (877) 678-5361 or visit their website at http://www.opulencapital.com.