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Betty's Corner


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Lifeline Earns Life Settlement License in Pennsylvania

MarketWatch.com

Lifeline Earns Life Settlement License in Pennsylvania

ATLANTA, June 14, 2012 (BUSINESS WIRE) -- Life insurance settlement provider The Lifeline Program today announced that the company received its license to perform life settlements in Pennsylvania. These transactions enable individuals, typically seniors and boomers, to sell existing life insurance policies for cash. Pennsylvania residents now have the option to sell their life insurance policies with the leading insurance settlement company in the country.

A life settlement is a unique alternative to surrendering a policy or letting it lapse and can be offered on term, whole or universal life policies. It can, for qualifying policies, transform an often non-producing asset into cash, which can be used to improve the quality of life of the policyholder, pay bills, supplement retirement or fund long-term care.

According to the Pennsylvania Department of Aging, the state is currently the fourth oldest state in the nation; with 21.2 percent of the population, or approximately 2.7 million individuals, aged 60 or older and 2.4 percent, or approximately 306,000 individuals, aged 85 or older. Nationwide, individuals in these age brackets are struggling to pay retirement and long-term care costs.

"A life settlement turns an unneeded or unwanted insurance policy into money that can be used to pay medical bills and cover escalating costs of living," said Wm. Scott Page, president and CEO of Lifeline. "While a life settlement isn't for everyone, we are pleased to offer a new financial option in Pennsylvania."

Founded in 1989, The Lifeline Program offers life settlements as a new financial planning option to baby boomers and retirees. The company partners with insurance agents, broker dealers and financial planners to establish life settlement business lines. For more information on life settlements, contact Stephen Terrell of The Lifeline Program at 770-724-7300. Additional research as well as informative videos featuring company spokesperson Betty White can be found at www.thelifeline.com.


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