ATLANTA, Aug. 10, 2017 (GLOBE NEWSWIRE) -- Berkshire Settlements, Inc., a family-owned and operated life insurance settlement provider dedicated to maximizing the value of consumers’ life insurance policies, today announced that it is now licensed to purchase life insurance policies in the state of Nevada.
The Nevada Division of Insurance (DOI) awarded a license to Berkshire to act as a “Viatical Settlement Provider” in the state, which confirms the company has met all compliance requirements to begin purchasing life insurance policies from residents of Nevada. The Nevada DOI is charged with protecting the rights of the consumer and the public’s interest in dealing with the insurance industry and is responsible for regulating the insurance industry.
“We’re pleased that the State of Nevada has certified us to begin serving the people of Nevada who own life insurance policies they no longer need or can afford,” said John Dallas, chief executive officer of Berkshire Settlements. “As a direct buyer of life insurance policies from consumers across the country, we’re uniquely positioned to help Nevadans maximize the value of their life insurance policies and generate cash to help offset health care expenses or other personal financial needs.”
Berkshire can now acquire policies from residents of 40 states nationwide.
A life settlement is the sale of a life insurance policy by the owner to a third party. The seller of the policy receives a cash payment that is greater than the policy’s cash surrender value and less than its death benefit, an amount that is – on average – roughly five to seven times more than the policy’s cash surrender value. The buyer of the policy assumes all future premium payments and receives the death benefit when the insured person passes away.
For more information, please visit www.berkshiresettlements.com.
About Berkshire Settlements, Inc.
Berkshire Settlements, Inc. is an Atlanta-based company that is one of the leading life settlement providers in the U.S. The company is a direct buyer of life insurance policies from policy sellers, helping them to maximize the value of policies they no longer need or can afford, and is highly regarded for its integrity, ability to execute and transparency in the transaction. Berkshire is a member of the Life Insurance Settlement Association (LISA), the nation’s oldest and largest organization representing participants in the life settlement industry. For more information, please click here or call (800) 233-1745.