PHILADELPHIA, July 12, 2019 /PRNewswire-PRWeb/ -- Green Settlements, a leading life settlement company connecting life insurance policyholders with third-party buyers, expects to see increased interest in the secondary market through the end of 2019. This forecast is fueled by the continued expansion of Green Settlements' prospects during the first two quarters of the year.
The life settlement industry has experienced significant growth in recent years, with 2018 posting a 28 percent increase in policies sold and a 35 percent increase in volume by face value. Face value, otherwise known as a life insurance policy's death benefit, increased by nearly $1 billion in 2018 alone.
Industry expert Joe Borowiec, vice president of Origination at Green Settlements, notes that this positive trend is good for brokers, financial advisors and—especially—consumers.
"Life settlements are offering a lifeline to seniors who would benefit from selling their life insurance policy for cash to help with medical and other expenses during retirement," said Borowiec. "Rather than letting their insurance lapse, or surrendering the policy back to their insurance carrier, insured consumers are able to capitalize on their investment by getting greater value out of their policy on the secondary market."
Qualified candidates are typically at least 65 years old and own a term, whole or universal life policy with a face value of at least $100,000. Other factors, such as a policyholder's health status and policy structure, play a role in how their life settlement transaction will be calculated.
"Even as the industry continues to gain momentum, we understand that many consumers remain unaware of life settlements and how the secondary market works," said Borowiec. "At Green Settlements, we're committed to guiding clients through each step of the process as we connect them with the industry's top buyers to ensure policyholders get the best value."
Interested policyholders can obtain a quote on their policy by calling 1-888-813-9890 or by filling out an online form at https://www.greensettlements.com/form.php.
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About Green Settlements
Green Settlements specializes in generating life settlement leads using direct-to-consumer advertising. The firm's mission is to provide education and awareness to consumers who own life insurance policies they no longer want, need or can afford, and to connect those consumers with qualified buyers who will help them unlock the hidden value found in their life insurance policies. Visit https://www.greensettlements.com/ for more information.
SOURCE Green Settlements
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