NO SELLING
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Dallas Beardsley Insurance, licensed since 1993, is working nationally to help seniors obtain additional income by converting their life insurance policies into life settlements. Life settlements allow a life policy holder, in most cases 65 years or older, to obtain cash for unwanted or unaffordable policies. At some point many seniors find that they need cash for living expenses instead of their existing policies. Life settlements were established and legalized in 1911 through a Supreme Court decision (Grigsby v Russell) which deemed a life insurance policy an asset that can be sold. Warren Buffett and Bill Gates are inspired by the growth of the industry as it is already a $13 billion dollar industry and 90% of the senior market are still not aware that they have this option. Buffett and Gates large stake in the life settlement industry is outlined in "Berkshire Hathaway Strikes Again". Selling a policy generates 3-5 times more cash for the policy holder than the surrender value offered by the insurance company.
There are 2.5 million seniors a year who will walk away from their life insurance policies with little or nothing, a loss of $900 billion in benefits to the policy holders. Read below for some examples of recent life settlement cases we have written and how it helped our clients.
1. A 66-year-old man had a term insurance policy that was reaching the end of his term. He sold the policy for $75,000. He was on the verge of walking away with nothing as most people do because they do not know that they have this option.
2. A current client with a $200,000 universal life policy with $600 cash in it. The cllient didn't need it anymore and didn't want to put anymore money in it. So instead of surrendering the policy for $600 she cashed a check for $95,000 for selling the policy.
3. A 66-year-old woman with multiple sclerosis had a $150,000 term policy that she didn't need anymore but needed the money for her care needs. The product was marketed for $25,000 giving her the financial cushion she wanted. (Settlement brokers take bids from individuals, groups, and companies to get the most money for their client, the policy holder).
4. A 78-year-old man with cancer had a $250,000 term policy and didn't need the policy because the home was paid off. The opening offer for the policy was $15,000. By using a good life settlement broker who marketed the policy, he eventually sold it for $128,000.
5. A 58-year-old had a $1.6 million universal life policy. The family didn't need the life insurance and he wanted to buy a ranch. He sold the policy for $350,000 (the opening offer was $125,000).
The commission for our settlement brokers in most cases is $5,000 and up. The largest commission we have seen was a triple play, 3 sales with one client; a term conversion, life settlement, and annuity, for a total commission to the settlement broker of $647,940. Yes, this was an exceptional case, however, it happened. Commissions can be very large. While policy holders received $1.1 billion dollars in payouts last year from selling their policies, agents earned $96 million dollars.
We pay our lead generators 50% of whatever our commission is. In most cases that 50% is around $2,500 for every lead that evolves into a settlement. When our commission is higher, the fee for the lead generator is higher. If our commission is 100K or more, we pay the lead generator 30% of whatever our commission is. Lead generators are also paid their fee on all referral business. We receive a lot of referral business coming from the original lead. We have been using lead generators since 1993 and we are very aware of their value. Lead generators have the freedom to work when they want without bosses or quotas. There are no charge backs with life settlements.
We provide:
1. A simple script. We just need to know if the client would like to have cash for their policy instead of the policy. If the answer is yes then that is a lead that goes to a settlement broker. We provide unlimited FREE leads of individuals 65 and older, which is 54 million people and growing. We don't run out of leads and knowledge of settlements is not necessary. This is not sales. Lead generators inform seniors that they have this option, if they qualify. Someone who wants more information regarading their individual situation is a lead that goes to a settlement broker. We work with the top settlement brokers in the country. Some of them write magazine articles.
2. Unlimited FREE marketing materials for those who may want to create a blog, website, social media, senior gatherings, etc. This is information developed by people who have retired out of the industry or are very successful. There are many ways to get leads.
3. All day support for lead generators where we answer all questions and take care of whatever they need. Lead generators are very important to us. They are part of marketing.
4. We have ongoing updates from settlement brokers that are forwarded to the lead generators so that they know exactly what is going on with their leads.
dallasbeardsleyinsurance.com
Licensed in Insurance and Financial Services since 1993
If this sounds like it may be a fit for you then call our corporate offices at 888-489-0130, ext. 456, for an overview of this opportunity. Listen to it as many times as you like and leave your name and number if you would like to speak to us. Please leave your name and number twice and speak clearly. Please do whatever checking you need to do before you leave your information.
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