Having the Life Settlement Conversation

LISA Board Members on How Advisors Can Unlock Hidden Value for Clients

Most financial professionals pride themselves on knowing the full scope of what’s available to their clients. But for too many, life settlements remain a blind spot: misunderstood, mischaracterized, or simply missing from the planning conversation. The Life Insurance Settlement Association (LISA) is on a mission to change that.

Comprised of leaders from across the life settlement industry, LISA’s Board of Directors represents decades of experience in helping consumers unlock hidden value in life insurance policies they no longer want, need, or can afford. Their message to advisors is direct. 

Life settlements are real, regulated, and ready. If you’re not offering them to your clients, someone else will.

Why Life Settlements Matter

“It’s not your fault if you don’t know about life settlements,” says Steven Shapiro, President and CEO of Q Capital Strategies. “Most advisors don’t and that’s a problem for consumers.”

Neal Jacobs, Senior Managing Director, Capital Markets at Coventry and LISA’s Chair, adds: “Life settlements offer a way for policyowners to be educated about their policy, understand its value and their options regarding their policy and make an informed decision about this asset just like they would with other assets they own.”

John Welcom, Founder and CEO of Welcome Funds, puts it bluntly: “You wouldn’t hand your house keys to the bank and walk away after years of mortgage payments. But that’s exactly what people do with their life insurance when they lapse it. It’s illogical.”

Courtney Wassef, VP of Compliance and Assistant General Counsel at Preston Capital, agrees: “Consumers are often unaware that their life insurance policy is an asset. Advisors and financial professionals are not having this conversation with their clients for many reasons. The disconnect between consumers and their trusted advisors needs to change.”

The Role of LISA: Championing Education, Advocacy, and Trust

To these leaders, LISA is more than a trade association. It’s a force for transparency and consumer protection.

“LISA is the voice of this industry,” says Sherry Duarte, Senior Managing Director at Fifth Season Investments. “It protects consumers, supports policyholders, and brings legitimacy to the market.”

Chris Conway, Chief Development Officer at ISC Services and LISA’s Secretary/Treasurer, calls LISA “the mechanism that makes the marketplace real. It’s David versus Goliath, but now David has a voice.”

Samantha Butcher, President, Portfolio Operations at Abacus Life, highlights the human element: “These aren’t easy conversations — death, illness, finances. But we handle them with care and empathy.”

And for Rob Haynie, Managing Director of Life Insurance Settlements, Inc. and LISA’s Vice-Chair, 

LISA’s leadership is vital. “When needed, we speak as one. That kind of unity is what drives industry growth.”

Overcoming Barriers to Awareness

Despite its promise, the life settlement space remains misunderstood. “There are hundreds of millions of dollars squandered every year,” says Conway, “and the only reason is lack of knowledge.”

Haynie is blunt: “We’re still battling decades of misinformation. Most people still have no idea this option exists. If insurers told policyholders up front, advisors would reengage and retain more clients.  Because life insurance is priced on clients lapsing, there is zero incentive for carriers to offer it to clients or to want their advisors to know.“

Jacobs adds: “The best-case scenario is that people have vaguely heard you might be able to sell a policy. That’s miles away from knowing what a life settlement is, getting an annual valuation, and acting on it. Education closes that gap.”

The Advisor Opportunity

According to the board, life settlements represent not just a consumer win but a business growth engine. “Advisors have a fiduciary duty to present all the options,” says Nate McCormick, Executive Vice President of Origination, Kosmos Management, LLC. “If you’re not talking about life settlements, someone else will, and they might take your client with them.”

John Dallas, President of Berkshire Settlements and LISA’s Immediate Past Chair, compares it to a familiar scene: 

“It’s like an episode of Antiques Roadshow. Someone shows up with a dusty old policy and finds out it’s worth much more than they thought. That only happens if we keep educating and collaborating.”

“This gives advisors a reason to re-engage with clients,” Dallas adds. “Advisors are always looking for new ways to re-engage with existing clients. Life settlements bring clients back into the conversation.”

Butcher offers a challenge: “Why aren’t you at least trying? You don’t know the value of a policy until you engage. There’s no obligation but clients deserve the option.”

A Smarter, More Accessible Future

Technology, regulation, and consumer interest are all moving in the right direction, say the board members.

“The process is faster and more efficient than ever,” says Butcher. “It’s easier, faster, and more consumer-friendly than it’s ever been.”

“We’ve (the industry) expanded (in terms of life expectancies) who we can help,” adds Haynie. “People are living longer. These policies are becoming critical to fund retirement.”

Jacobs believes better technology will help drive
 increased adoption: “Consumers expect a streamlined process that is quick and easy and as our industry continues to invest in technology and move in that direction, more consumers will participate in the market.”

Still, awareness is the final frontier.

“We have to keep pushing,” says Welcom. “LISA is producing content, building tools, and helping members get the word out. It’s expensive but it’s essential.”

Final Thoughts: A Wake-Up Call for the Industry

“Life settlements unlock hidden value,” says Shapiro. “They’re consumer-friendly, and they belong in every advisor’s toolkit.”

“Would you let your own policy lapse?” challenges Welcom. “It just doesn’t make sense to not explore the possibilities.”

Duarte concludes: “Life settlements aren’t just another transaction. They’re a tool to help clients achieve dignity, flexibility, and peace of mind.”

Haynie reinforces the call to action: “If insurers educated policyholders about this option upfront, advisors would reengage, grow their practices, and retain more clients. LISA is here to preach that message and make sure no one lets a policy lapse without knowing what it’s worth. We put life back into life insurance.”

You can read the full Life Settlements Guide here. When you're ready to get started, simply visit www.lisamembers.org for a free, no-obligation policy appraisal from a licensed broker.