Based on an algorithm developed by Magna’s team of data scientists and engineers, the agent calculator provides a unique price curve for an individual’s insurance policy. The determination of a potential settlement payout comes from a database of thousands of market policies, and the size of the data sample provides an informed estimate. The calculator is a time saver for agents and clients alike, because it provides a fast indicator of potential settlement value before requesting more extensive information for an in-force illustration, a process that takes seven to fourteen days.
For a wealth advisor or insurance agent to use the life settlement calculator, he or she will go through a few steps:
First, share your name and contact information. Next, provide details about your client’s life insurance policy. After entering that data, you’ll receive a response from Magna informing you of how much your client’s policy might be worth in a sale. The next step is to preview that estimate, known as a Life Settlement Evaluation. Finally Magna provides a simple way to share that evaluation directly with your client: via print or email.
Try our new proprietary tool and see how the calculation of a unique settlement estimate can pave the way for an educated decision that will assist you in optimizing your client’s retirement income.