Berkshire Settlements Rolls Out Fast 3-Step Process for Seniors to Sell Their Life Insurance Policies

ATLANTA, May 10, 2017 -- Berkshire Settlements, Inc., a family-owned and operated life insurance settlement provider dedicated to maximizing the value of consumers’ life insurance policies, today announced the launch of a newly streamlined application process for seniors who are interested in selling their life insurance policies through life settlement transactions.

“Life settlements are safe and well-regulated, but a factor that has discouraged many consumers from pursuing the sale of their life insurance policies has been an underwriting process that can be onerous and time-consuming,” said John Dallas, chief executive officer of Berkshire Settlements. “We’ve rolled out an efficient workflow that enables us to handle all underwriting in-house at Berkshire. This innovative process can reduce the time required to complete a life settlement transaction from three months to less than a month.”

A life settlement is the sale of a life insurance policy by the owner to a third party. The seller of the policy receives a cash payment that is greater than the policy’s cash surrender value and less than its death benefit; the buyer of the policy assumes all future premium payments and receives the death benefit when the insured person passes away. Americans who sell their unwanted life insurance policies collectively receive, on average, more than four times the amount they would have received had they surrendered them to their life insurance companies.

For more than a decade, Berkshire has been working directly with consumers -- or their trusted advisors -- to help them maximize the value of a life insurance policy they no longer want or can afford. Berkshire’s new process for life settlement transactions eliminates the usual medical underwriting process and substitutes a streamlined application review. The new workflow is principally designed for policies that insure seniors age 75 or older who have one or more health issues and with a death benefit of less than $1 million.

“This innovative approach to medically underwriting a potential life settlement transaction reduces the amount of time it takes us to review an application and also takes significant administrative cost out of the process,” said Dallas. “We can in turn pass on these cost-efficiencies to consumers who are seeking to unlock value from a policy, rather than just allowing it to lapse or surrendering it back to the insurance company.”

For more information, please visit www.berkshiresettlements.com.

About Berkshire Settlements, Inc.
Berkshire Settlements, Inc. is an Atlanta-based company that is one of the leading life settlement providers in the U.S. The company is a direct buyer of life insurance policies from policy sellers, helping them to maximize the value of policies they no longer need or can afford, and is highly regarded for its integrity, ability to execute and transparency in the transaction. Berkshire is a member of the Life Insurance Settlement Association (LISA), the nation’s oldest and largest organization representing participants in the life settlement industry. For more information, please click here or call (800) 233-1745.

Media Contact:
John Dallas
(678) 589-9948
[email protected]