Life Settlement: $55 Million Benefit to Senior Consumers

Advanced Settlements, Inc., an industry leader in the growing life settlement marketplace, announced the results of a recent internal analysis of the company’s life settlement transactions showing that senior consumers received approximately $55 million beyond the cash surrender value for unwanted or unneeded life insurance policies. ; « It is indeed a good day when we can quantify and announce statistics showing millions of dollars going into our economy that is improving the financial needs of our country’s elder citizens, » said Sean McNealy, co- president of Advanced Settlements, Inc. « Given the fact that some seniors may be thinking of letting policies lapse or accepting low cash surrender values, we believe it is important to communicate the value proposition of life settlements for seniors who are seeking a sensible exit strategy from unwanted policies, » McNealy added. ; The internal analysis focused on the company’s life settlement transactions conducted between November 2004 and April 2005. The review indicated that senior clients who chose to do a life settlement received $55 million beyond the cash surrender value for the policies. ; A life settlement is the sale of an unwanted or underperforming life insurance policy by seniors generally over the age of 70. ;