Shift Shapers Podcast

13 Jan 2020

Ep #296: Help Your Clients Find Money – with Lisa Rehburg

David Saltzman 0 Comments

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In this episode of the ShiftShapers Podcast, host and Chief Transformation Strategist David Saltzman chats with Lisa Rehburg, President of Rehburg Life Insurance Settlements. Lisa explains what a life insurance settlement is and how policy owners can actually sell their life insurance policies for cash.

Lisa goes on an in-depth discussion where she discusses the benefits to agents who will offer this, the legalities of life insurance settlements, and the growing appeal of this type of settlement to boomers who are now approaching senior age.

What You’ll Learn From this Episode:

  • 01:50 Life insurance settlement defined
  • 06:13 Benefits and roles of agents
  • 12:11 Case studies and opportunities for clients
  • 15:34 Carrier feedback to life insurance settlements
  • 18:19 Growing interest and appeal to boomers

Quotes:

01:54 “So basically, a life insurance settlement is the ability for a client to sell their life insurance policy for a lump sum of cash. There are investor groups who are willing to buy those policies, and clearly they’re obviously doing it for investment purposes, and they’re saying is that obviously the returns are good. The other thing though it’s a diversification tool for them.”

03:16 “So what we’re talking about is, in a settlement, client sells the policy. They receive lump sum of cash. The investor groups now become the new owner of the policy, the new payer of the premium and they receive the death benefit when the client passes.”

06:48 “It’s a very simple question to ask when you’re talking to them: do you have a life insurance policy you no longer want or need? Because I would like to go on a limb and say there’s probably a really good chance that one of those 500,000 seniors is probably an insurance agent’s client.”

08:41 “The shorter the life expectancy, the more money they’re willing to pay. The lower the premium, the more money they’re willing to pay. And like I said, it’s just a true numbers game.”

16:49 “I think life insurance is really important. I am not badmouthing life insurance companies at all because I think it’s very important for financial planning purposes. But I also believe that when a policy is no longer wanted or needed, a client should have the opportunity to sell that.”

Resources:

Grigsby v Russell – https://supreme.justia.com/cases/federal/us/222/149/

Listen to the Full Interview:

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