Listen to this articleALIR LLC is a life settlement provider located in the state of California. Below is our recent interview with Nels Griffin from Alir:
Q: Could you provide our readers with a brief introduction to Alir?
A: We provide life settlement services to seniors and life settlement brokers. Our team has over 20 years of hands on experience in the life settlement industry and has transacted over $1 Billion in face value.
Q: What is a life settlement? Who should consider it?
A: Life Settlements are a financial instrument that allows individuals that qualify to sell their in-force life insurance policy to a third party. This transaction generates current liquidity from life insurance that otherwise may be a non-liquid asset. In addition, Life Settlements on average yield considerably more than the cash value that may have accumulated in a life insurance policy.
Recommended: Q: What are the benefits of life settlement?
A: Generally, life settlements are reserved for individuals that due to age or health have a life expectancy that is under 15 years. If an individual is 70 years of age or over and is thinking of letting their life insurance laps due to premium expense, or a change in their financial plan, they should consider pricing their policy in the life settlement market. An appalling percentage of financially strapped seniors each year let their life insurance policies laps worthless when they could have been sold in the life settlement market. ALIR is working fervently to help broaden market awareness of this powerful tool.
The clear majority of individuals that benefit from life settlement are seniors. The current economic climate has created a rapidly growing segment of the senior demographic that are coping with rising healthcare costs and cost of living increases. Due to this dynamic, frequently seniors are looking for additional sources of income or liquidity. Life Settlements can provide a much-needed lump sum capital infusion while relieving seniors from the burden of increasing life insurance premiums.
Q: What makes you stand out from your competition?
A: The life settlement industry has been expanding at a tremendous rate over the past 5 years. This is driven by both the need for the senior demographic to find alternative sources of liquidity, and the growing demand from institutional and individual investors for alternative asset classes that are non-correlated with the markets and provide consistent returns.
Despite this growth, the life settlement industry is still dominated by a small number of competent Life Settlement Providers. As a Provider ALIR has extensive background and history in the life settlement industry and extends unparalleled experience and ethics to its clients.
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Q: What are your plans for the future?
A: Through 2018 and into 2019 ALIR is looking to extend its reach by expanding into Florida, Texas, New York and New Jersey. This will open a larger network of Life Settlement Brokers and extend our reach to individual insureds in those states.
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