Having been spared just in the nick of time from making a huge mistake, I am happy to share my story and testimonial about how Scott Thomas of Asset Life Settlements saved the day.
As the trustee for my 84-year-old father’s $3 million life insurance, I had initially entrusted my father’s life settlement case to a local agent who promised to shop the policy in the secondary market and obtain the highest possible offer. After receiving a life settlement contract for only $475,000 from the agent, I was just about to sign the documents when I began to question the amount of the offer. So, before executing the documents, I sought the expertise of Scott Thomas – one of the most experienced brokers in the industry.
Scott checked with his provider contacts in the secondary market and learned that the case had in fact not been shopped to multiple buyers. It turns out that the offer I had received represented a single offer from only one provider. Scott immediately set to work by obtaining my father’s medical records, ordering life expectancy estimates, and submitting the case to multiply buyers. Within only a few weeks, Scott presented us with an offer of $1.2 million for my father’s policy. Had I not questioned the initial offer and consulted Scott Thomas, we would have left approximately $725,000 on the table! — M.T., North Carolina