Advanced Settlements Inc. says the life settlement market is performing a real service for older Americans.[@@]

The privately held Orlando, Fla., life settlement broker says it now is arranging tens of millions of dollars in life insurance policy sales per year for consumers who no longer want their policies.

Between November 2004 and April, Advanced Settlements clients received a total of $55 million in settlement payments in excess of the cash surrender value of the policies sold, Advanced Settlements says.