Policy Appraisal Firm Adds Life Expectancy Calculator
The tool is aimed first at older clients who are thinking of dropping or selling policies.
A life insurance policy appraiser is courting your clients with a new tool: a web-based calculator that predicts a user’s life expectancy based on the firm’s own life expectancy data and methods.
The firm, WeBuy75.com, bases the life expectancy forecasts on factors such as exercise, use of medical care and social interactions as well as factors such as age, heart health and blood sugar levels.
Anyone can use the calculator, but WeBuy75.com works with many older life insurance policyholders and terminally ill policyholders who want to sell their policies through life settlements and viatical settlements.
Wm. Scott Page, the firm’s president, said the new calculator has an important message for your clients: People who own life insurance and take active steps to manage their finances tend to live longer than members of the general population.
Today, “many seniors use calculators [that] inherently underestimate the longevity of individuals with life insurance,” Page warned.
Inaccurate ideas about life expectancy could hurt clients’ efforts to make the best decisions about life insurance policies, annuities and retirement savings strategies, Page said.
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