J.G. Wentworth Life Settlements, LLC helps seniors who want liquidity for life insurance
policies that they no longer want or need. Typically, life settlements were available
only to wealthy individuals with large policies. But J.G. Wentworth is focusing
on policies of less than $500,000 and going direct to consumers to provide them
liquidity at a point in their lives when it can perhaps make a meaningful difference.
Currently, J.G. Wentworth can assist insurance policy owners in 24 states plus Washington,
D.C., and as a result of our ongoing licensing efforts, we anticipate the number
of states to increase throughout 2008.
Meanwhile, the company continues to add resources, according to Scott Wilkomm, head
of J.G. Wentworth’s Mortality Linked Products Group. “Our life settlements business
continues to develop with the addition of actuarial resources, reps and new states
in which we can do business.” He added that the initial traction that the life settlements
business is enjoying may be attributable to the direct-to-consumer business model.
“By going direct to consumers, there is a high degree of transparency in our life
settlement transactions, and within the context of our initial marketing efforts,
this seems to be what consumers want.”