Don’t Ignore the Amazon Model When Exploring a Life Settlement

In the past, you bought what was at your local store, and you were at the mercy of the local store pricing. Your product choices were limited to the brands and models the store carried. You probably didn’t even know the full breadth of product options that existed. Then came Amazon. Amazon changed the face of shopping forever. You could seek out product options from all over the country. You could find the pricing that most benefited you. You could make an informed purchasing decision. Amazon dramatically improved the general consumer experience.

If you’re considering a life settlement, you’d be foolish to ignore the Amazon model. Don’t shop at a single life settlement provider. Their goal is to buy your policy for the least amount of money possible. You won’t even have a way of knowing if the offer is reasonable. Each settlement provider has a preferential type of product, carrier, and/or risk profile they want to purchase. Using a single provider could mean you’re shopping with a provider who really doesn’t like what you’re selling. So, you may get a lower offer because you’re out of the provider’s wheelhouse.

Instead, you should use the equivalent of the Amazon model: a life settlement broker. A life settlement broker seeks out offers from multiple life settlement providers. This gives you a greater chance of finding a provider that favorably targets your specific fact pattern. Just as importantly, a life settlement broker who uses a bid approach to getting offers creates competition for your policy. A competitive bid process helps drive up the value of offers for your policy. You’ll easily spot which offers were lowballs. You’ll be able to make an informed decision about selling your policy. In the end, you’ll have higher offers if you choose to sell your policy. So, don’t ignore the Amazon model when seeking a life settlement. Use life settlement broker to maximize the value of your life insurance policy.


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