{"id":17012,"date":"2023-10-04T11:46:26","date_gmt":"2023-10-04T15:46:26","guid":{"rendered":"https:\/\/www.focusonsuccess.com\/insights\/?p=17012"},"modified":"2023-10-04T11:46:26","modified_gmt":"2023-10-04T15:46:26","slug":"finra-comments-on-life-settlement-brokers-spread-the-word","status":"publish","type":"post","link":"https:\/\/www.focusonsuccess.com\/insights\/finra-comments-on-life-settlement-brokers-spread-the-word\/","title":{"rendered":"FINRA Comments On Life Settlement Brokers: Spread The Word"},"content":{"rendered":"

FINRA Posts Life Settlement Alert For Consumers<\/strong><\/p>\n

On July 31, 2023, the Financial Industry Regulatory Authority (FINRA) posted an investor alert and guide aimed at older consumers who are thinking about selling their in-force life insurance policies to others through life settlement transactions. This is FINRA’s first posting on life settlements since 2009.<\/p>\n

SALE OF POLICIES THROUGH LIFE SETTLEMENTS.<\/strong>
\nFINRA lists many reasons for policy owners to be careful when they\u2019re selling their policies. But also states, \u201cA life settlement might make sense for you if you no longer want or need your current policy \u2013 or if you can no longer afford the expense of paying insurance premiums and are willing to give up or replace the coverage\u201d.<\/p>\n

LATEST LIFE SETTLEMENT STATISTICS.<\/strong>
\nThis posting comes on the heels of the Life Insurance Settlements Association’s (LISA) latest report which estimates that 3,100 U.S. consumers sold their in-force life insurance policies in 2022, while consumers let about\u00a09 million policies lapse. According to LISA, policies with a total of more than\u00a0$100 billion of face value are lapsed\u00a0by consumers over age 65 each year.<\/p>\n

LICENSED LIFE SETTLEMENT BROKERS.<\/strong>
\nWhile FINRA cites the difficulty of getting a fair price as a life settlement risk factor, it suggests working with a licensed life settlement broker to get objective policy pricing information. FINRA also encourages policy owners to pay attention to transaction costs and privacy.<\/p>\n

READ THE ARTICLE.<\/strong>
\nWe recognize the importance of this information. and as a firm that specializes in life settlement transactions, we believe this presents an opportunity to provide you with a copy of the FINRA article.<\/p>\n

Download FINRA July 31st Article<\/a><\/p>\n

HOW FOCUS ON SUCCESS ADDRESSES CLIENTS BEST INTERESTS.<\/strong>
\nAdditionally, we would like to take a moment to respond to the questions FINRA proposed for consumer consideration and protection. We feel confident that our\u00a0process follows the guidance provided by FINRA to act in the best interest of consumers.<\/p>\n

Download Our Responses To FINRA Questions<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

FINRA Posts Life Settlement Alert For Consumers On July 31, 2023, the Financial Industry Regulatory Authority (FINRA) posted an investor alert and guide aimed at older consumers who are thinking about selling their in-force life insurance policies to others through life settlement transactions. This is FINRA’s first posting on life settlements since 2009. SALE OF…<\/p>\n","protected":false},"author":10,"featured_media":17013,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68],"tags":[],"class_list":["post-17012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life-insurance","category-68","description-off"],"_links":{"self":[{"href":"https:\/\/www.focusonsuccess.com\/insights\/wp-json\/wp\/v2\/posts\/17012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.focusonsuccess.com\/insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.focusonsuccess.com\/insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.focusonsuccess.com\/insights\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.focusonsuccess.com\/insights\/wp-json\/wp\/v2\/comments?post=17012"}],"version-history":[{"count":1,"href":"https:\/\/www.focusonsuccess.com\/insights\/wp-json\/wp\/v2\/posts\/17012\/revisions"}],"predecessor-version":[{"id":17020,"href":"https:\/\/www.focusonsuccess.com\/insights\/wp-json\/wp\/v2\/posts\/17012\/revisions\/17020"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.focusonsuccess.com\/insights\/wp-json\/wp\/v2\/media\/17013"}],"wp:attachment":[{"href":"https:\/\/www.focusonsuccess.com\/insights\/wp-json\/wp\/v2\/media?parent=17012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.focusonsuccess.com\/insights\/wp-json\/wp\/v2\/categories?post=17012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.focusonsuccess.com\/insights\/wp-json\/wp\/v2\/tags?post=17012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}