Dallas Beardley Insurance, licensed since 1993, is working nationally to help seniors obtain additional income by converting their life insurance policies into life settlements.
Simply put, 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. It is the obligation of a licensed professional, who is a settlement broker, to discuss the potential benefits of life settlements with clients. Although statistically 90% of seniors do not know they have this option, 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 Buffet 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 stll not aware that they have this option. Buffett and Gates big stake in the settlement industry is outlined in "Berkshire Hathaway Strkes Again."
Please review below which shows a few of our recent life settlement cases and how seniors were helped.
A current client with a $200,000 universal life policy with $600 cash in it. The client didn't need it anymore and did not want to put anymore money in it. So instead of surrendering the policy for $600 she cashed a check for $95,000.
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.
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.
A 58-year-old had a $1.6 million universal life policy. The family did not need the life insurance and he wanted to buy a ranch. He sold the policy for $350,000 (the opening offer was $125,000).
A 66-year-old man had a term life insurance policy that was reaching the end of its 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.
In most cases our settlement brokers earn $5,000 and up for each case. 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 which is why we know a number of people who have already retired from working in the life settlement industry. Life settlements annual volume nationally is due to hit $13 billion dollars a year. While policy holders received $1.1 billion dollars in payouts last year from selling their policies, agents earned $96 million dollars.
We are looking for telemarketers to create leads for our settlement brokers. We pay our telemarketers 50% of whatever our commission is. That 50% is usually $2,500 and up. When our commission is more, then the fee for the telemarketer is more. If our commission is 100K or more, then we pay the telemarketer 30% of whatever our commission is. Telemarketers are also paid their fee on all referral business. We receive a lot of referral business coming from the original lead. This is not sales. No license is needed. Our telemarketers inform perspective clients that they have this option, if they qualify. The lead goes to one of our settlement brokers. We work with the top settlement brokers in the country. We have been using telemarketers since 1993. We are very aware of their value and we pay accordingly. Some telemarketers have evolved into settlement brokers. This, of course, is optional.
There are more than 54 million seniors in the country and we provide free lists to telemarketers. We provide unlimited free marketng material if someone wants to create a blog, website, social media, senior gatherings, etc. This is information we have developed over a period of time working with people who retired out of the industry or have become very successful. This information is invaluable to us. In addition, we keep an ongoing record of everything that is going on with a lead which is emailed to telemarketers so that they know, just as we do, how their leads are progressing.
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. Most people don't know about life settlements. Everything here is checkable. Please do whatever checking you need to do before you leave your information.
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