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“If a new broker closed only one case a year, he would still most likely make ten times more than what it cost him in monthly account fees by working with LSA. With 2009 transactions estimated to be in the billions of dollars, it is highly improbable that a broker could only close one case." |
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Life Settlements have historically averaged 15% to 40% of the policy’s face value and Life Settlement Brokers are charging commissions as much as 30% of that amount. |
In today’s world, it is not difficult to find individuals who have a life insurance policy of at least $100,000. A life settlement broker settling just one of these policies per month could make over $110,000 per year in commissions and fees! |
Just one $500,000 policy could generate a $125,000 settlement. Using a 30% commission, with fees, a life settlement broker using LSA could earn $39,200—three times more than they would have earned if they had referred the client to another life settlement broker.
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Who qualifies for a life settlement?
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Some reasons to sell a policy:
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Our Services
Designed for Professionals at Every Level of Experience
LSA breaks down the costly barrier to entry into the life settlement industry by providing a complete turnkey opportunity for financial planners, life insurance professionals, CPAs, lawyers, and other financial service professionals to enter the lucrative field of life settlements as life settlement brokers. There is no experience necessary and you can continue with your present job or business while you build your separate life settlement brokerage.
Services provided by LSA enable these professionals to operate with full autonomy, instant website identity, delegation of all case processing and back office support, and maximum profits without the costly burden of large capital outlays, staffing or fixed overhead.
While separate licensing is required in some states, setting up to immediately sell and represent policy owners living in approximately 11 states currently requires no licensing and can be done from where you live in any of the 50 states in the country.
It’s as simple as 1-2-3:
1. Create your business identity (including name, address, phone numbers).LSA provides the rest!
2. Secure a domain name so potential clients can find you on your new website.
3. Register with LSA to start customizing your new website.
Whether you choose to take advantage of LSA’s full menu of services or you just need a few—your flat monthly service fee is always the same.
Here is what LSA makes available to you as a life settlement broker:
1. Website hosting of your personally selected domain name on our servers, including 100 email addresses.
2. Licensing rights to use the “content-rich” copyrighted affinity website material (See a Sample) under your domain on our servers. You will be able to customize your affinity site to include your broker name, contact information, About Us page, and Contact Us page. Viewers will see this professional website as if it were your own. The site is designed with basic search engine optimization features allowing it to be recognized by Google, Yahoo, and other search engines.
3. Internet exposure to potential clients in all 50 states.
4. All applications, client engagement agreement, and forms needed to immediately start a life settlement case, as modified to include your broker name, contact information, and commission structure.
5. Use of our fully developed Privacy and Anti-Fraud Policies.
6. A listing of institutional buyers with contact email addresses for you to use in getting approved to submit cases under your new broker name. In most cases, approval involves nothing other than filing an application.
7. Access to state licensing information, including the website addresses to each state agency to assist you in staying current on regulations.
8. The Life Settlement Tips & Techniques resource providing you with tips on life settlements and on how to reach clients.
9. Free LSA Preview of all cases to assist you in determining case viability.
10. Complete case processing from application to closing, including:a. Conducting the application interview with your new client.
a. Conducting the application interview with your new client.
b. Completing and distributing the application and forms to all parties for signature.
c. Ordering the illustrations, medical records, policy copies, and two life expectancy evaluations from among the top four LE Providers.
d. Completing the full case in electronic format for submission.
e. At your direction, submitting the case to all buyers that you designate.
f. Receiving pricing proposals from interested buyers on your behalf and distributing same to you.
g. After you have consulted with your client, at your direction notifying the winning buyer that their offer has been accepted.
h. Working with your client and buyer to complete all closing paperwork.
11. Access to available marketing materials at reduced rates.
How does LSA work?
The LSA model makes your entry and operation in the life settlement industry as easy as possible. For example, consider the 10 steps in the following illustration:
Step 1: You are contacted by a potential client who came to you through your personal or professional contacts, a referral from an agent or advisor working with you, or through your personalized website.
Step 2: You fill out the information requested on the LSA Pre-Qualification Worksheet available to you on the LSA website and fax or email it to LSA.
Step 3: LSA receives the Pre-Qualification Worksheet and performs a free LSA Preview to assist you in determining the viability of the case.
Step 4: LSA contacts you to discuss its findings. If you decide to decline the case, there is no charge. If you decide to accept the case, LSA will commence processing once it has received your Processing Fee. (Note: We will only collect a Processing Fee on the cases we process. You are not required to have LSA process your case should you, instead, choose to process the case yourself.)
Step 5: If you accepted the case and remitted your Processing Fee, LSA immediately contacts the policy owner to gather all information required to complete the agent agreement (the agreement between you and your client regarding representation and fees), the application, and all authorizations and releases. LSA will then courier these documents to your client for review, signature and return to our offices.
Step 6: Once all documents are received back by LSA, it continues the process of ordering illustrations, policy copies, medical records, life expectancy evaluations, trust documents, premium loan documents, and any other documentation required to complete the case. All information is converted to an electronic format.
Step 7: After all documentation is complete, and we have notified you that the case is complete, we will provide you with a Buyer Submission Form, which lists potential buyers to whom you may want us to submit the case on your behalf. In your capacity as the life settlement broker, you will instruct us to submit your case to the buyers you designate.
Step 8: LSA will serve as the conduit to receive the offers being returned from the buyers on your case. LSA will inform you of these offers as they are received. We suggest that you have us conduct two rounds of bidding to ensure that you have received the best available market price for your client’s policy.
Step 9: Once all final offers are received, you will discuss these with your client to arrive at a decision on the winning bid. This will be accomplished through the use of the LSA Summary Pricing Report. Once signed by your client and upon notification from you, we will notify the winning buyer and coordinate the closing process on your behalf.
Step 10: The case is settled and funds (including your commissions and fees) are disbursed directly from the buyer to your client and you. After you have received your commissions and fees, LSA will invoice you for the Closing Fee that is due on the transaction. A Closing Fee is due on every case we process, but only if it closes.
As you can see from the 10 steps above, although you are the broker collecting 100% of the commission, the LSA model makes it possible for you to outsource virtually all of the processing involved with a life settlement case.
How do I get started?
Getting started with LSA is as easy as using LSA. To get started, all you need to do is click on a Register Me Now!!! Button or navigate to the Registration page through the tab at the top of each page.
On the Registration page, complete the information as instructed and click Submit. You will then automatically be redirected to LSA's secure credit card authorization page for payment and completion of your registration. Once approved, we will send you a short form for you to use in providing us the information you want on your new website, forms and agreements, and to transfer your new domain to our servers. That’s it. We will transfer your domain, modify your website, incorporate the rate of commissions you will be charging into the agreements, and modify the forms and applications to reflect the name of your brokerage. If you choose, contact your local stationer for some professional business cards and you are ready to go!
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