Abacus Settlements Continues to Revolutionize the Secondary Life Insurance Market
Abacus Settlements, a leading Life Settlement Provider, was recently featured in a New York Times article titled “Wringing Cash From Life Insurance” with a heavy focus on underwriting and pricing improvements in the Life Settlement industry. Jay Jackson, Vice-President of Capital Markets, showcases the Abacus Express program. The author of the article, Paula Span, documents her experience as she volunteers to participate in the program. Even though she did not qualify for a settlement, she found the 10-15-minute process very professional and non-invasive and got a close-up look at the program and a client’s overall experience. “The Abacus Express program provides the consumer expedited liquidity, changing the standard case processing time from 60-90 days to 15-30 business days. This helps avoid policy lapses and saves thousands for the consumer in additional premium payments” says Mr. Jackson.
The Life Settlement industry has become increasingly more consumer-friendly in recent years. Abacus has recently had a presence on several major broadcast networks including FOX News, MSNBC, CBS and NBC with a new education and consumer awareness message. Other major media brands like PBS are also actively showcasing the benefits of the secondary market and the importance of this option that benefits all ages of policyholders.
With more than $100 billion in face value of life insurance lapsing or surrendering each year by seniors over the age of 65, Shane McGonnell, Vice President of Sales and Marketing, adds “Consumers are quickly realizing that they have options when either forced to pay costly premiums or to surrender their policy for little if they no longer need or can afford their coverage.” A 2010 survey prepared for the Insurance Studies Institute indicated that 90 percent of seniors who have let a policy lapse would have considered selling it if they had known a life settlement was an option.
About Abacus Settlements
Abacus Settlements, LLC is a nationally licensed life settlement provider with a corporate office in Orlando, Florida. Founded in 2004, Abacus works with life settlement brokers, professional advisors, consumers and institutional investors in optimizing the value of unwanted life insurance policies. Abacus Settlements is not licensed in all states. For more information, visit https://abacuslifesettlements.com.
Jeff Smith, Director of Marketing