Abacus Life Settlements is Now Licensed to Purchase Policies in Oregon
ORLANDO, Fla., July 27, 2018 (Newswire.com) - Abacus Life Settlements, a leading life settlement provider in the secondary market for life insurance, announced today that it has been granted a life settlement provider license by the Oregon Department of Insurance. Abacus is now licensed to purchase life insurance policies in 41 states, as noted on the company’s web page at www.abacuslifesettlements.com/licensure.
“Abacus Life Settlements looks forward to expanding its secondary market services to the close to 700,000 seniors who currently reside in Oregon,” said Samantha Butcher, chief operating officer of Abacus. “We encourage Oregon policy sellers to visit our Life Settlement Learning Center and to use our online pre-qualification and pricing tools.”
As a state with a rapidly aging population, Oregon’s licensure process for viatical and life settlement providers is considered to be fairly rigorous. Abacus is honored to be among the few providers who have been approved by Oregon’s Insurance Commissioner to work with policy owners residing in the state.
Insured’s suffering from major illnesses will also be able to submit cases to Abacus. The provider is well-known for assisting those that are struggling with medical bills or having trouble keeping up with the overall financial burden an illness can place on an individual and their family. Abacus is an industry leader when it comes to critical illness underwriting and policy valuation.
Clients and their Advisors will now have access to Abacus Express, a program exclusive to Abacus that cuts the traditional life settlement timeline down to only a few weeks, sometimes even to days. Butcher noted that Abacus’s industry ranking, which places it as one of the nation’s top providers, strengthens the company’s market position when competing for policy acquisition and new investment capital.
Abacus believes the recent resurgence of the secondary market for life insurance continues to provide consumers with a valuable alternative to surrendering or canceling a policy. For aging baby boomers who may be financially ill-prepared for their own longevity, a life settlement can be a source of funds to help pay for medical and long-term care expenses.
Abacus officials expressed optimism that the industry’s robust growth trajectory will remain strong as more consumers choose to optimize their insurance assets, and as institutional investors capture yield while insulating investment portfolios from stock market volatility.
About Abacus Settlements, LLC
Founded in 2004, Abacus Life Settlements is a licensed Direct Life Settlement Provider and Buyer headquartered in Orlando, FL. Abacus is capitalized by several institutional funds, purchasing life insurance policies in the secondary market for life insurance. Abacus responds to the needs of Professional Advisers and Policy Sellers seeking to optimize the value of unwanted or no longer needed life insurance policies. Policy Sellers, Life Settlement Brokers, and Agents know they can count on Abacus to deliver the fair market value of each policy that we purchase. For more information, visit www.abacuslifesettlements.com.
Source: Abacus Life Settlements
