Magna's Premium Life Settlement Calculator for Finance Professionals Uses Market Data to Provide a Real-Time Estimate

Financial professionals now have a way to determine which clients may benefit from a life settlement, thanks to the new tool developed by Magna Life Settlements

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Magna Life Settlements

May 30, 2019, 14:30 ET

AUSTIN, Texas, May 30, 2019 /PRNewswire/ -- Financial professionals now have a way to determine which clients may benefit from a life settlement, thanks to the new tool developed by Magna Life Settlements.

The new Life Settlement Calculator features a client-facing appraisal estimate that allows wealth advisors and life insurance agents to provide a transparent price curve for their clients' policies. The determination of a potential payout comes from a database of thousands of market policies, enabling an informed estimate. The calculator is a time saver for financial professionals because it provides a fast indicator of whether a client's policy may have settlement value, reducing the time to receive an offer.

"This tool allows a financial professional to go through their book of business to identify all life settlement prospects before getting their clients involved," said Clay Gibson, Magna's director of policy origination, who added that Magna enables life insurance agents to monetize their mature books of business.

Agents and advisors who use the Life Settlement Calculator will walk through a few simple steps. First, they share their name and contact information; then they provide basic details about their client's life insurance policy. After entering that data, the agent receives an estimate of how much the client's policy might be worth in a sale. Using a Health Status slider, the agent can fine tune the estimate based on their client's estimated medical conditions. The next step for the agent is to preview that estimate, known as a Life Settlement Evaluation. Finally, Magna provides the agent a simple way to share the evaluation directly with their client via print or email.

This tool is free for financial professionals to use. It can be found at Premium.MagnaCalc.com.

About Magna Life Settlements

Magna Life Settlements buys life insurance policies from older Americans who no longer want or need them. As one of the largest providers of life settlements in the U.S., Magna is a decade-old buyer of life insurance, licensed and able to do business nationwide. Magna is dedicated to educating older Americans about the option to sell their policy and put their financial asset to use while they are still living. For more information about Magna or to schedule a call with a life settlement representative, visit Magna's site to learn more.

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SOURCE Magna Life Settlements