Abacus Life Settlements, a leading life settlement provider in the secondary market for life insurance, announced today that it was granted a life settlement provider license in both Wisconsin and North Dakota. With these two additions, Abacus is now licensed to purchase life insurance policies in 49 states.
Abacus Life Settlements looks forward to expanding its secondary market services to more than 123,000 residents in the state of North Dakota and 1,048,000 residents in the state of Wisconsin ages 65 and older. Abacus encourages both Wisconsin and North Dakota policy sellers to visit our Life Settlement Learning Center located at www.abacuslifesettlements.com/learning-center/ and to use our online pre-qualification and pricing tools.
According to industry reported rankings, Abacus has deployed more capital than any other Provider since 2018. With over $200 million dollars allocated to purchase policies in 2021, Abacus is honored to be among the few providers who are approved by the Wisconsin Office of the Commissioner of Insurance and the North Dakota Insurance Department to work with policy owners residing in each of the states.
Abacus believes the recent resurgence of the secondary market for life insurance provides senior consumers with a valuable funding source for alternative income-producing investments. For aging baby boomers who may be financially ill-prepared for their own longevity, life settlements can be a source of funds to help pay for long-term care expenses.
“Advisors and their clients in both Wisconsin and North Dakota now have access to our Life Settlement Learning Center and the use of our online pre-pricing and qualification tools,” said Scott Kirby, Managing Partner. “Abacus can purchase policies as little as $100,000, and offers multiple settlement solutions including cash and/or retained death benefit.”
Abacus officials expressed optimism that the industry’s growth trajectory will remain strong as more seniors choose to optimize their insurance assets, and as institutional investors capture yield while insulating investment portfolios from stock market volatility.
About Abacus Life 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 Advisors 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.
Source : https://www.newswire.com/news/abacus-life-settlements-approved-as-licensed-provider-in-wisconsin-and-21624203