Finance Logix and Amrita Financial Inc. partner to deliver life settlements to financial planners. Amrita Financial will provide analytical tools and a transactional platform that is to be embedded into the Finance Logix software. This will make understanding the value of life settlements much easier for financial planners so opportunities are not missed for clients. In a partnership that was several months in the making, Finance Logix and Amrita Financial hope to empower financial planners and their clients so that they can make the best decisions possible regarding their overall financial strategy.
One of the most important aspects of the strategic partnership are the analytical tools provided by Amrita Financial to Finance Logix users. The tools will be embedded into the Finance Logix interface and provide a familiar look and feel to financial planner users. The highlight of the analytical tools is the life settlement valuation component. Amrita Financial will provide a deterministic valuation for each of the life insurance policies, giving financial planners an idea of a policy’s value on the secondary life insurance market. This life settlement estimate allows financial planners to better understand their clients’ true financial position and compare a potential life settlement vs. the cash surrender value of a policy. Traditionally a life settlement can fetch 200%-500% more than a policy’s cash surrender value.
By knowing the life settlement value, financial planners and their clients will better understand their options if they have an unwanted or unneeded life insurance policy. Rather than assuming the best option is to surrender the policy to the insurance carrier, planners can now get an idea of what a financial institution may be willing to pay for it.
Finance Logix software is now able to assist financial planners place a client’s life insurance policy onto the secondary. Financial planners can now access the Amrita Financial electronic life settlement platform directly through Finance Logix. By doing so, financial planners now have increased transparency into the transaction and can view real time status of things such as offers, number of financial institutions bidding and documentation collected.
The life settlement paradigm could be altered forever with the partnership between Finance Logix and Amrita Financial. It will add a much needed alternative to traditional bricks and mortar life settlement brokers by increasing transparency and transactional efficiency.
By partnering with Amrita Financial, the Finance Logix software offering becomes more robust and ultimately more beneficial to the clients served by financial planners using the system.
Want to find out more about life settlements, then visit Kelly Ramirez’s site on how to choose the best life settlement broker for your needs.
categories: life settlement broker, life settlement, viatical, life insurance, insurance, financial planning, finance