Grandparents, adult children and grandchildren in a Christmas card photo (Photo: Thinkstock)

Life insurance producers are keenly aware of the unique value of the product they sell. Life insurance is not just another financial product, but a significant one that can really make a meaningful difference in peoples’ lives.

To surviving family members, it can be the asset that allows them to remain in the world they’ve been living in. To surviving business associates, it can be the asset that allows the business and their livelihood to continue. What these examples have in common is the value of a life insurance policy upon the death of a loved one or business associate.

(Related: 5 Uses for Life Insurance That Most People Haven’t Thought Of)

Sometimes, however, waiting until the death of the insured is not the answer to the policy owner’s needs. When a most pressing financial problem arises while the insured is alive, a solution could be a life settlement.

A testimonial video, produced by the Life Insurance Settlement Association (LISA), features a case involving Robin Weinberger. In less than 4 minutes, it demonstrates how the living benefits of a life settlement can provide much needed funds for expenses related to a severe chronic illness.

The video can be viewed on the LISA website.

As the client says, the need or desire for a living benefit outweighed the need for a death benefit. This situation clearly demonstrates that life settlements can add even more value to life insurance, an already uniquely valuable product.

Although many policies have accelerated death benefit riders, these riders are quite limited in how and when they can be used. Typically, accelerated death benefit riders require the insured to have a life expectancy of less than two years. A life settlement may be available when an accelerated death benefit rider is not.

If you have clients facing a chronic illness, medical expenses or other financial hardships, a life settlement can make a meaningful difference in their lives.  Sharing this testimonial video with prospects and their advisors is a powerful way to demonstrate the value of a life settlement to them.

— Read Life Settlement Investors Head to New York on ThinkAdvisor.


Robin S. WeinbergerRobin S. Weinberger, CLU, ChFC, CLTC, has served as general agent and director of national accounts for Connecticut Mutual and vice president of marketing for Sun Life of Canada. She is also an active personal producer. Since 2003, Weinberger has specialized in life settlement brokerage services and is currently the director of national accounts for Life Insurance Settlements Inc. She can be reached at RSW220@aol.com or (617) 451-3343.

Peter N. KatzPeter N. Katz, J.D., CLU, ChFC, has spent more than 30 years in the life insurance and financial services industry as an advanced markets attorney and in product development. He is currently a life settlement broker and co-director of national accounts with Life Insurance Settlements Inc., as well as a consultant specializing in life insurance advanced sales illustrations. He can be reached at pkatzlife@yahoo.com or (860) 673-3642.