Life Settlement Association Expands Membership Benefits to Qualifying Agents

Category LISA
Posted Date 11/30/2009
Publish By Marketwire
Publish Date 11/30/2009
Rating Neutral

Marketwire, 30 November 2009

Orlando, FL

In a significant expansion of membership benefits, the Life Insurance Settlement Association (LISA) today announced that qualified agents would now enjoy the full range of tools and resources available. In May, LISA launched Provisional Membership, a new category exclusively structured for independent agents and newly formed life settlement companies. The life settlement industry has seen a significant influx of small shops and independent agents seeking to break into the market. A Life Settlement is the sale of an existing life insurance policy to a third party for more than its cash surrender value but less than its net death benefit. The industry is currently experiencing a surge of interest within the financial sector, among state and federal policy makers and throughout the mainstream press.

"We are addressing an emerging demographic of settlement professionals," explained Will Menezes, LISA Manager. "The economic recession is on the wane. As new money enters the market, we will likely see a dramatic rise in participation by entrepreneurial producers and newly formed settlement companies. To meet this demand, LISA is opening up the full breadth of its resources to these groups for an introductory period." The expanded membership category offers tools and resources in a broad array of areas to include professional networking, legal compliance, legislation and regulation, industry news, and others.

For the better part of two decades, LISA has exclusively represented the needs of life settlement professionals acting in the secondary market. LISA members currently represent approximately 90% of all U.S.-based licensed settlement activity. "As an association we have an obligation to represent the whole life settlement industry," explained Doug Head, LISA Executive Director, "not just the large established companies. With the entry of potentially thousands of agents in the coming years, we are seeing a democratization of this market. This means greater competition and more choice for consumers." 2009 saw two of the nation's most populace states, California and New York, pass strong life settlement laws. Experts agree that the regulation of these large markets will bring a strong influx of licensed activity and with it, a need for wider professional representation. The Provisional Membership category is specifically structured to answer this need.

THE BENEFITS OF PROVISIONAL MEMBERSHIP

Qualifying individuals and entities accepted as Provisional Members of LISA will enjoy exclusive access to the full extent of membership benefits to include:

-- access to a network of over 1000 contacts
-- legislative and regulatory representation across the states and in D.C.
-- online access to legislative and regulatory tools for all 50 states and Puerto Rico
-- personal life settlement license tracking and support
-- case study certification program
-- weekly access to association conference calls and online agendas
-- complete access to exclusive online news rooms
-- subscription to Life Settlement Review
-- reduced membership dues
-- reduced conference registration rates and many others

"It's true. There are other associations such as NAIFA that purport to represent the agent community but, in the words of Gary Sanders, NAIFA Vice President for Securities and State Government Relations, '... NAIFA does not represent its members in life-settlement activities, but in their insurance interests,'" pointedly explained Mr. Head. "We are the only membership organization exclusively representing these sophisticated agents in their life settlement needs. Life settlements represent a vital financial option for consumers and it's high time someone represent agents wanting to serve their clients in this market."

To learn more about Provisional Membership, download the LISA Membership Benefits Guide (1.10 MB): http://www.thevoiceoftheindustry.com/files/content/docs/Brochures/Membership-web.pdf.

Established in 1994, the Life Insurance Settlement Association is the oldest and largest trade organization in the industry. Its goal is to promote the development, integrity, and reputation of the life settlement industry, and to promote a competitive market for the people it serves. LISA now represents over 130 members with a wide variety of interests in the industry. For more about the association, visit http://www.thevoiceoftheindustry.com/.

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