WHAT IS LIFE INSURANCE BROKER?

The terms "broker" is defined by the various State Departments of Insurance. A broker (a term typically applied to those selling property and casualty insurance) is deemed to primarily represent the customer and not the insurance company. A broker generally represents more than one insurance company, and the broker's compensation is generally paid as a commission by the insurer with whom the policy has been written.

WHAT IS A LIFE INSURANCE SETTLEMENT BROKER?

A life insurance settlement broker is a state licensed professional who represents life insurance policyholders in the life settlement marketplace. This individual or entity is regulated by the Department of Insurance in the home state of the policy owner to solicit life settlement offers from multiple life settlement providers.

WHO DOES A LIFE INSURANCE SETTLEMENT BROKER REPRESENT?

Life insurance settlement brokers do not represent life insurance settlement providers, a life insurance settlement broker represents the best interest of the life insurance policy owner and acts on their behalf to negotiate the best offer for the sale of a life insurance policy.

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