The Story Behind The Successful Billion Dollar Industry Of Life Insurance Settlement
The billion dollar industry of life insurance settlement had been around for quite some time now
. Many are saying that the industry boomed during the 1980s when the disease aids claims many infected people faced an extremely short life expectancy and most of these people owned a health insurance policy and it was under these circumstances that the first viatical life settlement occurred and further became life insurance settlement or senior settlement. But when we look further back in 1911 in the United States, it is the year where the first viatical settlement transaction takes place. Dr. A.H. Grigsby treated a patient and his name is John C. Burchard. Mr Burchard needs a particular surgical operation and offered to sell Dr. Grigbsy his life insurance policy in return for $100 and for agreeing to pay the remaining premiums. Dr. Grigsby agreed and that is where the first viatical settlement transaction was born and today it became a billion dollar industry.The success of the life insurance settlement industry is not a secret that cannot be exposed. The main reason for its success is that the transaction itself. In a life settlement, all of the parties especially the seller of the health insurance policy will benefit the transaction, even the insurance company because the premium of the policy will still be paid and because insurance companies likes it better when their clients policy will not lapse. But then again, the people who made the right choice of having a life insurance settlement can have a nice retirement and enjoy his/her remaining years or even decades with loved ones and family. The life insurance settlement industry and life insurance Company like MaxLife Solutions are making sure that you get the most out of your life and became financially prepared especially during your retirement age.
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