Integrity Capital Partners Blog

Finding Value in Life Insurance Today

  • Home
  • About Integrity Capital Partners

Life Settlement Basics

Author: integicp

As boomers head into retirement, insurance agents are increasingly interested in the thriving life settlement industry. If you think you have a settlement opportunity, follow these basic rules to help you lock in the best deal for you and your client.

 Rule #1: Work With a Specialized Broker
Unlike direct providers, specialized brokers are interested in getting your clients the best purchase price for their policies and are positioned to complete the transaction expeditiously. They have actionable knowledge of all of the processes required to submit a case, and they will complete the fiduciary responsibility to achieve the highest price and be able to provide that information to the policy owner.

 Rule #2: Research Your Broker
When choosing a broker, make sure that he or she is a member of a reputable association, such as LISA, which vets its members to ensure they have the necessary compliance and professionalism. Request references and do some background checking to confirm that your broker has not experienced any prior litigation or license infractions. Finally, make sure that he or she is licensed to transact life settlement business in the policy owner’s state.

 During the selection process, remember that presenting your case to several brokers is unlikely to result in a better offer, and can actually result in a lower bid or no bid. Dealing with a single broker will help you avoid impinging upon existing relationships, creating questions about the “Broker of Record,” and generating an overall negative impression of the case.

 Rule #3: Understand the Timeframe
Even the most seamless life settlement case can take four or five months to complete. Allow up to 12 weeks to procure medical records and life expectancies and up to three weeks for providers to make final offers. The policy owner will need time to make a decision after an offer is made, and the carrier has 30 days to make changes after the package has been sent to escrow. Once they have received the change forms, escrow agents have three days to pay the client. Contracts are typically written with a 15 business-day rescission period, and agents should not expect to be paid until at least three weeks after the client is paid.

 Properly managing expectations is essential to completing a successful settlement transaction. In addition to a realistic timetable, make certain that your broker is not only willing to disclose the amount being paid by the provider, but that he or she will provide proof of multiple bids at the end of the process in order to confirm that the policy was properly shopped. Familiarize yourself with the process and communicate frequently with your client and broker.

 Robert Finfer is President and CEO of Integrity Capital Partners, a secondary life insurance leader and one of the largest insurance companies in the Washington Metropolitan area. Robert is a “Top of The Table” Producer and member of LISA, NAIFA and MDRT, and can be contacted at rob@integrityp.com.

Tags: Industry, Life Settlements, Robert Finfer
January 7th, 2010  |  Posted in Life Settlements, News, Robert Finfer  |  Comments Off

Integrity Capital Partners, creates a new partnership with the funding of direct European institutional funds

Author: integicp

 

Integrity Capital Partners (ICP), a leader in the secondary life insurance market, has continued to add additional funding partners to its brokerage operation. The new large European funding institution has committed over $250 Million to purchase cases directly from ICP’s agent network with transactions ranging between $500,000 and $20 million in face value.

 “We are excited to begin the new year with a growing roster of direct funding sources and have been traveling the globe and working hard to make sure our clients obtain the best valuation from direct institutional purchasers, allowing for better closing processes and communication.” commented Robert Finfer CEO of Integrity.

 “With the growing number of cases that we are seeing in from the cash strapped senior clientele “We are currently working on four additional direct relationships both in the United States and abroad that will allow ICP to provide better pricing for its growing case load of cash strapped senior clientele and at the same time identify purchasers that can execute purchasing in a professional and expeditious manner”. Finfer Says.

 Integrity Capital Partners (http://www.integrityp.com) is a leading life insurance settlement and premium finance broker located in Bethesda, MD. Offering Life Settlement Brokering Services and Premium Finance Programs, ICP is a proud member of NAIFA and LISA, as well as an MDRT “Top of the Table” producer. Integrity Capital Partners was recently ranked as the 2nd fastest growing insurance related company in the U.S. by Inc. magazine, and is recognized annually as one of the largest insurance related companies in the Washington Metropolitan area by the Washington Business Journal.

Tags: European Funder, Integrity Capital Partners, Partnership
January 3rd, 2010  |  Posted in Integrity Capital Partners, Life Settlements, News  |  Comments Off

Integrity Capital Partners, LLC, CEO Robert Finfer Named Ernst & Young Entrepreneur Of The Year(R) 2009 Award Finalist

Author: integicp

BETHESDA, Md., May 4 /PRNewswire/ — Integrity Capital Partners, LLC today announced that its CEO, Robert Finfer, is a finalist for the Ernst & Young Entrepreneur Of The Year(R) 2009 Award in the Maryland program. According to Ernst & Young LLP, the awards program recognizes entrepreneurs who demonstrate extraordinary success in the areas of innovation, financial performance and personal commitment to their businesses and communities. Robert Finfer was selected as a finalist from nearly 50 nominations by a panel of independent judges. Award winners will be announced at a special gala event on June 25, 2009 at the Baltimore Marriott Waterfront Hotel.

“I am extremely excited to have been recognized and nominated for this very special award,” Finfer said.

Mr. Finfer is a member of the Life Insurance Settlement Association (LISA), a member of MDRT, a “Top of The Table” Producer, as well as a Member of NAIFA. Mr. Finfer is a member of YPO (Young Presidents Organization) Baltimore/Washington Chapter. Mr. Finfer currently sits on the board of JSSA, a leading non profit organization providing Hospice and Mental healthcare in the Greater Washington DC area, and is an active member of the advisory counsel of The American University “Kogod College of Business Administration”.

Prior to founding ICP, Mr. Finfer, spent nearly a decade as an executive in the Non Prime Automobile finance business. Mr. Finfer earned his degree in finance from the American University. Mr. Finfer is a contributor to industry articles in periodicals such as “The National Underwriter,” “California Broker Magazine,” and “Insurance News Weekly,” as well as other periodicals. He is a frequently requested speaker at industry events.

The Ernst & Young Entrepreneur of the Year awards program celebrates its 23rd anniversary this year. The program has expanded to recognize business leaders in over 135 cities in 50 countries throughout the world.

Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 14, 2009. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation’s most prestigious gathering of high-growth, market-leading companies.

Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors. In Maryland, sponsors include DLA Piper US LLP, Clifton Gunderson LLP, The Mergis Group and Baltimore SmartCEO.

Integrity Capital is a leading Life Settlement Broker and Insurance Company located in Bethesda, MD and has been recognized annually as one of the largest insurance related companies in the Washington Metropolitan area by the “Washington Business Journal”. Integrity was listed as the 2nd fastest growing insurance related company in the United States by Inc. 500 in 2008. Mr. Finfer is a contributor to industry articles in periodicals such as “The National Underwriter,” “California Broker Magazine,” “Insurance News Weekly,” as well as other periodicals.

About Ernst & Young’s Entrepreneur Of The Year(R) Awards Program

Ernst & Young’s Entrepreneur Of The Year(R) Award is the world’s most prestigious business award for entrepreneurs. The award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, the Ernst & Young Entrepreneur Of The Year(R) award celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.

Tags: Award, Entrepreneur, Robert Finfer
December 31st, 2009  |  Posted in Awards, Integrity Capital Partners, News  |  Comments Off

Next >>

  • Categories

    • Articles & Industry News (7)
    • Awards (2)
    • Events (1)
    • Integrity Capital Partners (7)
    • Interviews (1)
    • Life Insurance (1)
    • Life Settlements (5)
    • News (10)
    • Robert Finfer (5)
  • Website

    • Integrity Capital Partners
  • Tags

    Articles Award Entrepreneur Entrepreneurs European Funder Events Industry Integrity Capital Partners Interviews Life Insurance Life Settlements Partnership Premium Finance Robert Finfer

    WP-Cumulus by Roy Tanck and Luke Morton requires Flash Player 9 or better.

  • Recent Posts

    • GQ’s “Style Guy” to be Feted in DC
    • Interview with Robert Finfer at mo.com
    • Best Advice for Young Entrepreneurs from a Top Entrepreneur
    • Integrity Capital Partners Launches New Social Media Platform, Website and Blog
    • Maine Amends Life Settlement Law
  • Meta

    • Log in
    • Entries RSS
    • Comments RSS
    • WordPress.org

Copyright © 2012 - Integrity Capital Partners Blog | Entries (RSS) | Comments (RSS)

WordPress theme designed by web design