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Equitas provides you with a list of funders that are in the market at any given moment as well as their “BOX” (buying parameters). The BOX is often a moving target and knowing which buyers may be available to your clients is a key factor in settling their policy.
Equitas will provide you with a matrix on a monthly basis that will illustrate the following:
Which funders are active
Each funder’s minimum and maximum policy size
Each funder’s minimum and maximum age of insured
Each funder’s range of LE reports being bid on
Each Funder’s desired IRR
Types of policies the funder will except
What states the funder is licensed in
The number of LE reports required per case by each funder
Which actuaries each funder is accepting LE reports from
The escrow agent each funder works with
Maximum percentage of premium to face value each funder accepts
Whether the funding is institutional or private
Whether each funder resells the policies acquired
The life settlement brokers that I dealt with in the past always kept me in the dark. They never told me who they were sending my client’s policy to or how many funders declined the case, etc. They would simply call me and say “how much does your client want for the policy”? I NEVER FELT THAT ANYONE WAS WORKING on my behalf or my client’s!
A lot of life settlement brokers talk about transparency and disclosure, however they rarely give you all of the information related to the settlement of your clients policy.
As your In-House life settlement professional you are always aware of the details with Equitas , we have no interest in having it any other way. On the contrary, Equitas works for you and in this way ensures that there is no adversarial dynamic as with a settlement broker.
In most cases you receive the funds directly from the funder if applicable.
Equitas works specifically with Broker Dealers, GA’s and IMO’s that wish to offer life settlements to their agents. We ensure that settlements are offered professionally and with the utmost support.
Equitas also offers you and your agents:
Licensing and regulatory support
Compliant educational and marketing material
Complete record keeping of all transactions as required
Life settlements are not exactly my main line of business, though more and more clients are coming to me for help. Equitas lets me be an instant expert on the subject! At the end of the day I LOOK MORE PROFESSIONAL and when the circumstances are right I make money for my client and myself.