Asset Life Settlements, a life settlement broker located in Orlando, has announced the company's entry into the marketplace.
Citing a rebound in the industry driven by a combination of market factors, the company states it is well-positioned to handle the anticipated increase in the demand for life settlement transactions.
Although the company’s name is new to the marketplace, the founders are long-time veterans of the secondary market for life insurance and are considered by many industry insiders to be among the nation’s most experienced life settlement professionals. Company co-founders Jeff Hallman and Scott Thomas bring to the table more than 25 years of combined industry expertise and have closed nearly $3 billion in policy value over the past 13 years.
"The success we have experienced over the years as life settlement brokers was not incidental, but intentional. It’s a matter of having worked hard to earn trust, proving our dedication, and delivering results," said Jeff Hallman.
In addition to the influx of aging baby boomers seeking to optimize the cash value for unwanted life insurance policies, Hallman noted that a number of other factors are expected to drive market demand in the foreseeable future.
Among those he cited include: Greater awareness and consumer confidence brought about by increased state regulatory activities; the 2012 passage of the American Taxpayer Relief Act (ATRA) which rendered obsolete the need for wealthier individuals to own life insurance to pay estate taxes; the current low interest rate environment which is negatively impacting investment returns for universal life policies issued decades ago; and the impending long-term care crisis as millions of aging, financially strapped consumers look for ways to finance the ever-rising costs for health care and nursing home stays.
"At Asset Life Settlements, we recognize that consumers typically turn to their financial and insurance advisors to guide them in leveraging the highest and best use of their life insurance asset," said Scott Thomas. "The advisors we partner with trust us because they value our professional competence and transparency in pursuit of the best solution for the client. In addition to taking the guesswork out of navigating the secondary market, we provide advisors the peace of mind that no stone was left unturned in optimizing the cash potential of each client’s life insurance asset."