J.G. Wentworth Inc. today announced that 22 states have granted life-settlement provider licenses to its dedicated life settlements subsidiaries.
Wentworth, Bryn Mawr, Pa., says it has applied for licenses in 5 other states that require life-settlement providers to be accredited. Twenty-three states and the District of Columbia currently do not require providers to be licensed to conduct life settlement business, the company notes.
J.G. Wentworth Life Settlements LLC and its sister subsidiary J.G. Wentworth Life Settlements LLC provide consumers with the option of cashing in life insurance policies with face values greater than $50,000.