Berkshire Settlements Awarded License as Life Settlement Provider in Iowa
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ATLANTA, July 27, 2017 (GLOBE NEWSWIRE) -- Berkshire Settlements, Inc., a family-owned and operated life insurance settlement provider dedicated to maximizing the value of consumers’ life insurance policies, today announced that it was granted a license to purchase life insurance policies in the state of Iowa.
The Iowa Insurance Division, which supervises all insurance business transacted in the state of Iowa, “granted an Iowa Viatical Settlement Provider License” to Berkshire, affirming that the company “is entitled to transact business in the State of Iowa in accordance with Iowa Code Chaper 508E.”
Berkshire can now acquire policies from residents of 39 states nationwide.
A life settlement is the sale of a life insurance policy by the owner to a third party. The seller of the policy receives a cash payment that is greater than the policy’s cash surrender value and less than its death benefit, an amount that is – on average – roughly five to seven times more than the policy’s cash surrender value. The buyer of the policy assumes all future premium payments and receives the death benefit when the insured person passes away.
“We’ve worked with dozens of families throughout the Midwest – and hundreds more nationwide – to help them maximize the value of a life insurance policy they no longer want or can afford,” said John Dallas, chief executive officer of Berkshire Settlements. “We’re pleased to have met the rigorous business requirements to obtain our licensing in Iowa and look forward to helping Iowans unlock value from a policy, rather than just allowing it to lapse or surrendering it back to the insurance company.”
For more information, please visit www.berkshiresettlements.com.
About Berkshire Settlements, Inc.
Berkshire Settlements, Inc. is an Atlanta-based company that is one of the leading life settlement providers in the U.S. The company is a direct buyer of life insurance policies from policy sellers, helping them to maximize the value of policies they no longer need or can afford, and is highly regarded for its integrity, ability to execute and transparency in the transaction. Berkshire is a member of the Life Insurance Settlement Association (LISA), the nation’s oldest and largest organization representing participants in the life settlement industry. For more information, please click here or call (800) 233-1745.
Media Contact: John Dallas (678) 589-9948 [email protected]
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