A life settlement can dramatically affect a client's life. (Photo: Shutterstock) In my previous article, I wrote about why P&C agents should consider life settlements. Now, I want to focus on how P&C agents and brokers can prepare for and generate activity in this niche area of our industry.
Life settlements involve life insurance policyowners selling their policies to secondary buyers; settlement purchasers are largely financial institutions and hedge funds, but additional buyers have emerged in this industry. This market is hot, and there are billions of dollars on the sidelines waiting for qualified policies because of all the additional entrants into the buying space. The combination of these factors makes now an opportune time for a P&C agency to expand into this segment.
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