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Old 03-11-2009, 10:34 PM   #1
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Should I Sell Life Settlements.... Should I Sell Life Settlements....
A friend is recruiting me to sell the investment side of life settlemnents through a company called Life Partners. It is all new to me but returns (on brochures) look good. I have checked the net a bit and it desn't look like this may always be the best option for seniors who currently own the policy, but I would be working the investment end.
It looks like the type of product that may create some decisive comments. As I am pretty green I would appreciate any comments about these products or the company Life Partners, Inc.

Thanks in advance

I am currently captured with health company and trying to find my way my way....
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Old 03-11-2009, 11:19 PM   #2
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Should I Sell Life Settlements.... Re: Should I Sell Life Settlements....
You're kidding, right?

How long do you plan to stay in business? What do you know already (have you done a search)???

There's a reason why the investment side can only be sold to sophisticated investors...
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Old 03-12-2009, 08:26 AM   #3
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Mark on Should I Sell Life Settlements....
 
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Should I Sell Life Settlements.... Re: Should I Sell Life Settlements....
They are so picky on who they will take. They want you to live at least 2 years, but know you will die within 5 years and prove it. They want the big policies and only certain kinds with certain companies.

I don't know of anyone right now making any money from them.
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Old 03-12-2009, 08:40 AM   #4
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Ron Van D on Should I Sell Life Settlements....
 
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Should I Sell Life Settlements.... Re: Should I Sell Life Settlements....
And don't be surprised if somebody, somewhere sues yo for selling and unregistered security. (Remember that they don't have to be right for it to cost you a ton of cash.)

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Old 03-12-2009, 08:43 AM   #5
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Should I Sell Life Settlements.... Re: Should I Sell Life Settlements.... ozmo is the thread starter for: Should I Sell Life Settlements....

Well I am off to a presentation today....and I did post before my search--sorry. I did find some infrmation in this forum. Still any comments on the viability of this market or if this is a profitable channel to pursue would be appreciated (thanks Mark).
Any positive or negative, regarding Life Partners?
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Old 03-12-2009, 10:29 AM   #6
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Should I Sell Life Settlements.... Re: Should I Sell Life Settlements....
Back up - based on your first post, you were talking about selling INVESTMENTS in life settlements, Mark is talking about selling LIFE SETTLEMENT TRANSACTIONS. There is a difference.

This is why I asked you specifically about how long you plan to remain in business. Your Life Partners buddy will get an override on business you develop. As Ron said, that particular type of suit is only one risk you will run, there are lots and lots more.
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Old 03-13-2009, 12:51 AM   #7
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Should I Sell Life Settlements.... Re: Should I Sell Life Settlements.... ozmo is the thread starter for: Should I Sell Life Settlements....

presenation OK today, I didn't get all questions answered but should be finding out more when they have an agents meeting...
Not to worry yet, I am not signed sealed and delivered and I still have to answer lots of questions. Life Partners sells fractionalized interest in Life Settlements. As I see it, the catch is the quality of the underwrite on LE--not to mention compliance.
As far as I have heard a securities license is not currently required, but that may be changing.
I intend to drill more into the underwriting criteria and what assurances there may be, as well as history of complaints or lawsuits....not sure how someone getting an overide exposes me to a suit??? but curious if it does
Anybody on this forum with direct experience selling these or working with Life Partners are there like companies to compare to?
Thx again, Ozmo
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Old 03-13-2009, 10:03 AM   #8
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Should I Sell Life Settlements.... Re: Should I Sell Life Settlements....
I've tried to be helpful, but...
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Old 03-13-2009, 10:15 AM   #9
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Should I Sell Life Settlements.... Re: Should I Sell Life Settlements....
Originally Posted by Mr. Bill View Post
I've tried to be helpful, but...

Some people are just not capable of learning. Check the SEC's website about all the suits they have recently filed against companies "That did not realize they were suppose to be registered or licensed."

I know of one agent here in Arkansas that approached me about three years ago for something similar. I told him that I was not interested, and that he should check with his respective regulators in our state. This is the same advice I will offer to you.

To make a long story short. Here was a guy who had been in the business 27 years with a nice renewal block of business, who is now spending time in prison as a direct result of his involvement with this company. Remember ignorance or stupidity is not an excuse.
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Old 03-13-2009, 11:21 AM   #10
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Should I Sell Life Settlements.... Re: Should I Sell Life Settlements....
And yet, do you think that the person receiving the override is in jail, too?

Nope.

As I've asked twice before - how long does this guy plan to be in business?
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