J.G. Wentworth Life Settlements, LLC has successfully registered in Maryland and
acquired its first licenses from state regulators in Nevada, Kansas and Indiana
with West Virginia and Maine expected to follow close behind, enabling the company
to do business in several key areas of the country. A total of 22 states do not
require licenses to transact life settlements, so the company can now do business
in more than half of the country.
“Between the states that do not require licenses, the states that have issued licenses,
and the applications we have made, the company should have a national footprint
by the end of the year,” said Scott Willkomm of J.G Wentworth’s Mortality Linked
Products Group.
A nationwide approach best suits the company’s business model, Willkomm said. “Unlike
many of our competitors, we are going to work directly with the consumer on the
sale of their unwanted or unneeded life insurance policies. We believe our direct-to
consumer approach provides liquidity to an underserved segment of the market, affords
total transparency, and gives consumers confidence that they are receiving the best
possible value for their life insurance policy.”