DISCIPLINED, CONTROLLED, TRANSPARENT.
Our process — and your visibility into every element of how we engage buyers — is what gives you confidence in the results.
There is an elegance - and, importantly, an efficacy and efficiency - of simplicity.
As a wealth advisor or life insurance professional, you're rightly focused on the size of the winning bid and your client's net proceeds. But that's not the whole value proposition — and we deliver the rest of it, too.
We create real competition - importantly, punishing bargain hunting - among multiple credible buyers, which drives our effective, expeditious price discovery. You stay closely engaged throughout — full transparency, a complete audit trail — so your client sees you as the reason they captured real value from an asset they might otherwise have let go for little or nothing.
All of it runs through a secure ShareFile bid room, with case files fully redacted until the client accepts a bid — not over email and phone calls, so, again, you have a full audit trail of what underlies the bids that we have received.
20+ buyers reached through 10 regulated intermediaries
80%+ of auctions successful
All Personally Identifiable Information (PII) is redacted
15/60 days to actionable bids & closing/funding
Smarter Planner Podcast
Hear in this episode of the "Smarter Planner Podcast" Belle Osvath, CFP, interview 1908's founder, Scott Sanders, about his company's innovative approach to helping financial planners work with their clients to sell life insurance policies that they and their advisors determine they no longer want or need.
WE DO NOT WASTE YOUR TIME WITH ORCHESTRATED COMPLEXITY
Rigorous, comprehensive market coverage, fast.
Our process is respectful of your and your client's time, effort, and, honestly, your intelligence.
It's a transparent, expeditious way to create maximum competition among multiple institutional buyers for your client's policy. If you're familiar with the incumbent channel, you'll quickly see how much less time we need to prepare for auction, and bidding itself takes days, not months.
Transfer & Funding
06
Calendar 10 days
Your time None
The buyer funds escrow, submits the policy to a Securities Intermediary, and submits change request to the carrier, which transfers ownership and escrowed funds disbursed.
Contracting
05
Calendar 15 - 20 days
Your time 4 hours
The winning Provider issues the purchase agreement, performs Verification of Coverage call with seller, and collects signatures and final documents (e.g., SSN, copy of DL).
PHASE 3
Close
Bidding
04
Calendar 3 days
Your time None
Each Provider submits one best-and-final bid without seeing who else is bidding or what those bids are. Top bids within 5% of each other get a one-day run-off.
Buyers review case
03
Calendar 10 days
Your time None
We invite 8 - 10 Providers representing major institutional capital to review the case in secure ShareFile bid room, request additional documentation and ask clarifying questions, and, if needed, submit the medical records to 3rd party LE providers.
PHASE 2
Market & Auction
Staging
02
Calendar 15 days
Your time ~4 hours
Collect and upload the policy, illustrations, medical records and supporting documents to our secure ShareFile bid room. We redact all personal information.
Collect medical records, policy, etc.
Policy Review
01
Calendar 1 day
Your time 1 hour
Send us a current in-force illustration. Within a day or two we give you a range of likely values, so you and your client can decide whether a sale makes sense.
PHASE 1
Review & stage
<15 days
to actionable bids, vs. ~90 in the traditional channel
~10
vetted Providers; only the most credible, vetted counterparties
1.3x
higher winning bids, on average, over open, "negotiated" bidding
7.5%
fee on proceeds above cash value (min. $12,500)
