Coventry Allocates $300 Million to Expand Its Simplified Settlements® Program

News provided by

Sep 16, 2024, 09:27 ET

FORT WASHINGTON, Pa., Sept. 16, 2024 /PRNewswire/ -- Coventry, the largest purchaser of life insurance policies in the secondary market, today announced it has committed an additional $300 million to fuel the expansion of its non-medically underwritten life settlement investments.

"This expansion is a top priority for us and continues our trend of using proprietary capital, allowing us to make quick, independent buying decisions without relying on third parties or external approvals," said Reid Buerger, CEO of Coventry.

The Simplified Settlements^® Program enables policyowners to sell their eligible Universal Life policies in as little as one week with no required medical underwriting. The program's streamlined approach lowers the minimum qualifying insured age to 65, with no limit on policy size.

"This initiative presents a significant opportunity for policyowners and financial advisors to access the market value of life insurance policies in a fraction of the time of a traditional life settlement," added Buerger.

As the life settlement industry leader, Coventry continues to emphasize that life insurance is a key financial asset, and policy appraisals are essential for understanding the value of that asset.

About Coventry

Coventry is the leader and creator of the secondary market for life insurance. For more than 25 years, we have been driving the industry forward and expanding opportunities for life insurance policyowners. Coventry's deep experience combined with a fierce commitment to consumer rights makes Coventry the clear market leader, a position we use to raise industry standards and expand consumer choice. To date, we have delivered more than $5.7 billion to policyowners who no longer have a need for their policies. To learn more about Coventry, please visit Coventry.com.

SOURCE Coventry