Our Merrill advisor introduced us to 1908 Advisors to discuss options for our policy when we were weeks from lapsing it. Scott quickly gave us a clear, honest assessment of the likelihood of a sale, what it would likely yield for us, and what would be required of us to ensure a smooth, fast process. At every step of the way, he made sure that we understood what was happening and why. We ultimately secured an offer far in excess what we realistically hoped for with a buyer that very quickly and professionally purchased our policy – it could not have gone more smoothly. He was always willing to answer any and all questions, professional, and friendly, even in moments that could have been stressful.
We’re grateful to our advisor for the introduction and to Scott for his efforts and feel like he charged a very fair fee for his work.”
~ Wife of policy owner, $1mm policy sold for $85,000
recent client engagements
While there is a discrete universe of underlying reasons for a client not wishing to maintain a policy and pursue a sale, each client situation is unique - and interesting - and we approach each one with a mindset to deliver a bespoke solution to ensure that we meet the very specific value proposition of the policy owner and the Advisor. Below are a few recent client engagements in which we facilitated fast, efficient transactions directly between the policy owner and the buyers and their statutory intermediaries.
Implications for seller of our approach
Contemplated Sale to Advertising "Direct Buyer"
A year after selling her business and having received the $5,000,000 key man term policy, our client was diagnosed with multiple myeloma (cancer), resulting in a life expectancy of 15 - 20 years. She and her husband decided to explore the possibility of a sale of the insurance as the policy was unnecessary for her estate and she'd seen advertisements on television. Her advisor reached out to us after she had first reached out to that advertiser…but one that we are specifically aware low-bids with prospective sellers who are unaware of their options. In less than a week, although several buyers did not bid, as they'd assessed her life expectancy as being as much as 30 years, we received a $900,000 bid from a top-tier institutional investor. By utilizing our approach rather than a broker or pursuing a sale with that buyer that advertises on TV, she yielded 5x what she would have if she'd sold to that advertiser and $232,500 more than if she'd used a broker.