21st Services L.L.C., Minneapolis, is simplifying prescreening for life settlement cases with a new evaluation tool.
The company’s new Customized Longevity Planning Report is based on medical data provided by the client in a structured questionnaire. The procedure can be handled either online at the 21st Services’ Web site or in a phone interview with a company representative, says 21st Services, Minneapolis.
The questionnaire takes about 15 to 20 minutes to complete, according to the company. Applicants provide their own medical information.
The release of CLPR coincides with improvements to 21st Services’ online life expectancy evaluation and with the launch of a new company Web site.
21st Services says the cost of either a phone or online CLPR is less than its regular life expectancy evaluations. The online version costs 80% less than a full LE, allowing brokers to determine at relatively low cost whether a client is likely to qualify for a life settlement, the company says. The broker only has to pay for a full LE in cases where he or she is highly likely to close the case, according to the company.
21st Services says the CLPR result is available just a few minutes after the information is entered. It includes the client’s longevity curve, compared to a standard” mortality curve and highlights the ages at which the clients survival probability is 50%, 30% and 10%.