Financial Advisor Information
“The emergence of the life settlement has altered the landscape of the insurance trust business.”

- Banking Law Journal

In 2008, Policyowners Received $38 Million More Than the Cash Surrender Value in Life Insurance Policies Settled Through Veris

News from Veris Settlement Partners

January 5, 2009-Veris Settlement Partners is a financial services company that had a great 2008.

$370 million of Death Benefit was settled through Veris Settlement Partners and policyowners received $38 million more than the Cash Surrender Value.

"During 2008, Veris Settlement Partners was very happy to help policyowners receive $38 million more than if they had surrendered and settled their policies back to the insurance carrier," commented Veris Director Steve Shorrock. "The policyowners are using that money to purchase more appropriate insurance coverage, replenish retirement assets, pay off debt, pay for medical expenses, travel and to make charitable contributions."

The Death Benefit of life insurance policies settled through Veris last year ranged from $100,000 to $100 million. The $100 million policy was possibly the largest policy settled in the market during 2008. Veris Settlement Partners is a quality life settlement brokerage with offices in New York (Northport), Maryland (Rockville) and Texas (Bellaire).

Of the policies settled, 67% of policies were Universal Life, 12% were Survivor policies, 10% were Term insurance, 10% were Variable Universal Life and 1% was Whole Life. The most popular state for settling a policy through Veris was New York with 41% with New Jersey second at 14%.

In a life settlement, a senior citizen’s life insurance policy sells for a percentage of the its net death benefit, which is greater than the issuing insurance company would pay for the surrender of the policy. Factors such as age, expected life expectancy and policy characteristics such as premium costs determine the purchase amount.

With senior management’s 85+ years of life insurance experience, Veris Settlement Partners is uniquely positioned to provide financial advisors, and the policyowners they serve, with the professionalism, service and full disclosure that they expect and deserve. For more information about Veris, please call 888-563-1113 or log on to http://www.go2veris.com/

 
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Copyright 2011 Veris Settlement Partners

Veris Settlement Partners, Inc. is a multi-state viatical and life settlement broker. Veris Settlement Partners, Inc., and/or its affiliate firms Chesapeake Financial Settlements, LLC and Select Life Settlements Corporation, and/or one of its four directors as individuals, is licensed as a life settlement broker or viatical settlement broker in the following regulated states: AR, CT, FL, GA, HI, IN, LA, MD, MS, NC, NJ, NY, PA, TX, UT, VA.

Depending on the medical condition of the insured, Veris Settlement Partners, Inc. may or may not be able to broker a life insurance policy owned by a resident of the following states: CA, DE, IL, MA, MN, NM, OR, VT, WA, WI.

Veris Settlement Partners, Inc., and/or one of its four directors as individuals, may broker a life insurance policy owned by a resident of the following states that are not regulated and do not require licensure: AL, AZ, DC, ID, MI, MO, NH, RI, SC, SD, WY.

Some or all of the proceeds from a life settlement may be taxable under federal or state income tax laws.  Advice from a professional tax advisor is recommended. Veris Settlement Partners, inc. is not a viatical or life settlement provider.

This Compliance Notice is current as of August 15, 2008 and is subject to change.