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

- Banking Law Journal

Veris and LSL Introduce 15-Minute Life Settlement LE for Small Face Policies

New 5:15:500 Program Quickly Determines If Insureds Meet Buyer's Criteria

News from Veris Settlement Partners

November 12, 2009 - Veris Settlement Partners, Inc. and Life Settlement Leads, Inc. (LSL) announced today that they have joined forces to offer life insurance agents the easiest and fastest life expectancy pre-qualification program for small face value life settlements.

The joint venture, entitled the 5:15:500 Program, uses new methodology to determine the most important criteria, life expectancy (LE), at the beginning of the process, not the end. As a result, Veris and LSL are able to confidently pre-qualify the likelihood of a life settlement offer while eliminating the administrative hassles.

The methodology requires just 5 minutes of an advisor’s time, and 15 minutes with their clients, in order to pre-qualify an insured and provide an official LE report on policies with a face value of $500,000 or less – thus the 5:15:500 Program.

“Administrative delays are a major deterrent preventing agents and brokers from pursuing life settlement transactions.  Too often an agent will work with a client over weeks to complete medical questionnaires and applications and order inforce illustrations only to learn that the client doesn’t fit the profile that suits buyers,” said  Robert Gatti, CEO of Life Settlement Leads.  

“The premise of the 5:15:500 Program is to quickly and easily enable agents to obtain a client’s LE, which is the most significant criteria for determining if a deal is viable,” added Russel Dorsett, Veris Director.

The key policy and insured parameters for the 5:15:500 Program are:

  • Policies with a face amount from $100,000 - $500,000
  • UL, Convertible Term and SUL (with one deceased)
  • Policies issued standard or preferred
  • Insureds aged 75 and older
To download the new 1-page questionnaire, please log on to www.go2veris.com/form.html or contact Joe Young at jyoung@go2veris.com or 888-563-1113.

 
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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.