LIVING BENEFITS^® Portfolio Management

Servicing Case Studies

Living Benefits' experienced team of professionals delivers the hands-on servicing necessary to manage all aspects of each underlying policy within a life settlement portfolio with the purpose of maximizing investor returns.

Below are some examples of the value added services and analysis that we have provided to our clients in the past.

Due Diligence

Living Benefits fully understands the importance of thorough due diligence with regards to a life insurance portfolio. We developed a process that includes detailed verification of each individual document in the closing package.

During one of our due diligence tasks, we identified a policy that did not contain the insured's social security number on an application. Additionally, we could not locate verification of the insured's social security number in either a copy of a social security card or Medicare card.

Upon further investigation and fact finding, we discovered that the insured person in question, with a US life insurance policy, was not a US citizen and that the insured generally resided outside of United States. Accordingly, we researched our mortality tracking options and found companies that specialized in obtaining death certificates in foreign countries.

We contacted the insured's designated contact on file and obtained a written statement confirming full cooperation in tracking of the insured's life and assisting in obtaining a death certificate. Consequently, our client was able to make an informed decision based on having been presented with several options.

Another case in which we provided valuable insight involved a policy originally created, "to only age 95." Upon further review of the contract and additional verification with the carrier, we were able to determine that the policy actually qualified for an extension rider that would provide a full death benefit past age 95.

Premium Optimization

Living Benefits was hired to take over servicing of life insurance policies in a portfolio. Upon reviewing the illustration we noticed that one of the policy's death benefit did not remain level which causes the policy to be more expensive. On behalf of our client, we were able to work with the insurance company to change it to a level death benefit and thus reduced the amount of premiums necessary to keep the policy in force. The end result was that we saved our client the hassle of dealing directly with the bureaucratic insurance carriers and lowered the carrying cost of the policy.

Death Claim Collection

Living Benefits has partnered with one of the industry leaders in mortality verification and locator services to conduct mortality tracking on a regular basis. We realize and understand that the longer the death claim collection process takes, the more it negatively impacts the overall IRR of the portfolio.

Based upon a foundation built from years of experience with death claim processing, we have put together a proven and successful process. This meticulous process includes initial research into an insured's personal information, locating an obituary, tracking last known residential address and determining the county where the death certificate was filed.

In one past example, Living Benefits was hired to locate an insured's death certificate after the owner was unable to do so. Upon further investigation and inquiry, we discovered that although the information about the insured's death was first confirmed in one county, the actual death certificate was filed in a different county. We contacted the county department of vital records directly and were able to achieve a quicker turnaround time as compared to waiting until the death certificate was made available at a state level.