Life settlement market has cause for optimism according to second annual study conducted jointly by LISA and Agent Media
Clearwater, FL - January 4, 2006 – More than 400 life, health, and annuity producers across the country recently took part in the second annual Life Settlement Study, co-sponsored by the Life Insurance Settlement Association (LISA) and Agent Media, the publisher of the Agent’s Sales Journal and Insurance Marketing magazine.
The study, the second of its kind, explores producers’ experiences with life settlements and their perceptions of the life settlement industry.
“Growth in the secondary market for life insurance is almost inevitable if consumers understand their rights, agents understand their responsibilities, and the laws are not radically changed to protect vested insurer interests” says Doug Head, executive director of LISA.
Last year’s study, conducted in November 2005, showed that while the majority of agents admitted they had elderly clients whose life insurance needs had changed since they purchased their policy, only 18 percent of agents said they’d completed one or more life settlement transactions. This year, however, 31 percent said they’d completed at least one transaction.
The increase inactivity is grounded by a major shift in attitude. This year, 49 percent of respondents said they believed there is a substantial potential for additional income from life settlements. Last year, only 28 percent said they felt that way, with 43 percent saying there was a limited potential.
As with last year, the results indicated that one of the main barriers to transacting a life settlement is proper training and knowledge: 68 percent said they didn’t feel they’d transact a life settlement in the next 12 months simply because they didn’t know enough about life settlements. However, trade publications seem to be filling in this knowledge gap, cited by the majority of respondents noting such publications as their most helpful source of information about life settlements.
“As a publishing company, it’s very rewarding to learn that agents rely on trade publications as their primary source of information about this market,” said Jamie Green, editor-in-chief at Agent Media. “We look forward to offering them the Second Annual Guide to Life Settlements in the March issue of the Agent’s Sales Journal.
The full results of the study will be featured in the March edition of the Agent’s Sales Journal and the May edition of Insurance Marketing magazine, the Agent’s Sales Journal’s sister publication.
Contacts:
Agent Media
Jamie Green
Editor-in-Chief
800-933-9449 Ext. 229
Editor@AgentMediaCorp.com
LISA
Doug Head
Executive Director
407-894-3797
doug@lisassociation.org
