Firm Finds Many Advisors Still Avoid Life Settlements

Fewer than 16% of financial services advisors say they have ever helped clients sell in-force life insurance policies.

Researchers at Maple Life Financial Inc., Bethesda, Md., a life settlement provider, have included that finding in a summary of a recent advisory survey.

Survey participants included lawyers, accountants, financial planners and estate managers as well as professionals who classified themselves primarily as insurance agents.

Although 73% of the survey participants said they were familiar with the life settlement concept, 84% said they had not been involved in settlement transactions, the researchers report.