Life Insurance Settlements Market Statistics for 2023 Released
- Lisa Rehburg
- Jun 8, 2024
- 1 min read
The Life Insurance Settlements Association, LISA, recently released their 2023 market data report. The bottom line - great news for clients and their advisors.
Here are the numbers:
3218 total policies sold (up from 3071 in 2022)
$842 million paid to consumers (up from $770 million)
$707 million more paid for policies than lapsing or surrendering (up from $610 million)
6.2 times higher than the cash surrender value (up from 5.2 times)
$262,000 more in client's pockets, on average, for completion of their life settlement transaction (up from $250,500)
According to LISA, policies with more than $100 billion of face value are lapsed by seniors over age 65 each year. Before you or your client lapses or surrenders a life insurance policy, please consider selling the policy. This can be a much better financial option.
It’s interesting to see the 2023 life insurance settlement market stats. While the industry is shifting toward more alternative asset investments, it’s a niche space that keeps growing for those in the know. Just like you should prioritize a regular geschlechtskrankheiten test for your personal health, staying updated on these financial trends is vital for your portfolio's well-being. It’s all about staying proactive, whether it’s your wealth or your health!
Great read! The 2023 market statistics for life insurance settlements really highlight how the industry is evolving. It's fascinating to see the steady growth in policy acquisitions, proving that more people are recognizing the value of these settlements as a strategic financial tool.
I’m particularly interested in how Personalized Insurance can further bridge the gap for policyholders who might otherwise surrender their coverage for less. By focusing on Personalized Insurance solutions, the market can better match individual needs with fair settlement values. Looking forward to seeing more progress!
It’s fascinating to see the 2023 life insurance settlements market statistics finally roll out. The growth in people realizing their policies have actual market value is huge, especially when you need liquidity. Just like getting cross auto ppraisals ensures you aren't leaving money on the table for a vehicle, these stats prove that policyholders are getting way more than just the cash surrender value. It’s a smart move for seniors looking to fund retirement. Seeing the transparency in the secondary market increase is definitely a win for consumers. Great breakdown of the data!