Secondary Life Broker Sees Market Shift

In-force life insurance policies are still selling, but a broker says the buyers are choosier.

Settlements for Life L.L.C., Memphis, Tenn., a broker, still can maintain relationships with entities that buy life insurance policies, but the market is feeling the effects of the global economic meltdown, according to Settlements for Life President Daniel Katz.

“Agents have to understand that policies are not going to sell for the price they once were back in the beginning of ’08,” Katz says. “It is our responsibility to make sure every policy is shopped thoroughly and to all buyers. Our agents should know what to expect so they can advise their clients in the right direction.”