Tag: Company News

Magna Life Settlements and Vida Capital Volunteer at Habitat for Humanity

Volunteer at Habitat for Humanity - Magna Life Settlements

For more than five years, employees of Magna Life Settlement and Vida Capital have been giving their time to help build houses with Habitat for Humanity in the Austin area. This year’s two days of service, which took place in early October, gave our team an opportunity to serve the community by partnering with the respected non-profit.

Magna Life Settlements at Habitat for Humanity

During the build days, our team members hung siding in the house, painted, cut drywall and undertook other tasks to finish the construction of a home for a Habitat for Humanity client. Habitat for Humanity, founded in 1976, partners with families to help them build a safe place to live. The organization also undertakes projects in the areas of neighborhood revitalization and disaster relief.

Every employee of Magna and Vida participates in the Habitat build day, in part because the outreach effort reflects the company’s value of community enrichment through service. By leaving the office and our daily tasks behind for two days, our employees broaden their view of the community around them and its needs, form closer bonds that lead to better workplace collaboration and demonstrate our company’s commitment to responsible corporate citizenship.

Since the daily operations at Magna are all about turning the liability of an unwanted life insurance policy into an asset, community outreach efforts can also lend a broader perspective to the business of life settlement. Life settlements are about creating a new form of income for retirement needs, but their proceeds can also allow seniors to travel and give back themselves—maybe even through Habitat for Humanity.

Magna Sponsors NAIFA Performance + Purpose 2018 Conference

NAIFA Performance + Purpose Conference
Magna Life Settlements will have a strong presence at the National Association of Insurance and Financial Advisors (NAIFA) Performance + Purpose 2018 Conference in San Antonio from September 13-16.

As a sponsor and participant at the conference, Magna team members will seek opportunities to share information about life settlements with the agents and advisors who are in attendance. We believe that many professionals in the insurance and financial sectors will be interested in informing their clients about the $100 billion opportunity that can come from a life settlement.

In addition to the informal connections in between workshops, at meals and during the conference expo, Magna has two specific opportunities for attendees to learn more about the life settlement industry in general and Magna’s growing presence within it:

On Friday night, The National Association of Independent Life Brokerage Agencies (NAILBA) will hold a networking reception for independent advisors, and Magna will sponsor a giveaway at the event. Anyone who comes by and drops a business card in for the drawing will have the chance to win a 20-ounce YETI Rambler.

Jim Purdy, the Director of Agent Origination for Magna, will be around the NAIFA Conference all weekend, and he would love to host anyone for dinner or drinks who would like to discuss how to get trained and certified with Magna to submit their clients’ unneeded or unwanted life insurance policies for a possible life settlement.

The NAIFA Performance + Purpose Conference lets advisors customize their workshops according to their level of experience. The event will allow attendees to learn from the experts and also be the experts with Braindate, a new peer-to-peer learning system.

Main stage speakers include Leigh Anne Tuohy, whose story was featured in the book and movie “The Blind Side,” and Rich Karlgaard, a Silicon Valley-based journalist, investor and board director. The conference will take place at the Henry B. Gonzalez Convention Center. The official conference hotel is the Grand Hyatt San Antonio.

Magna Featured on Fox Business Talk Business 360

Magna Life Settlements had a turn in the national spotlight on June 30 when the company, and the life settlement industry, were featured on an episode of Fox Business Talk Business 360.

The theme of the show was financial innovations, and the segment on life settlements provided a platform for Magna Life Settlement Senior Vice President Clay Gibson and Director of Agent Origination Jim Purdy to talk about the benefits and considerations of selling a life insurance policy. The episode also included an interview with Adam Hull, a partner advisor with AdvicePeriod.

“When you bring up life insurance to your clients, they think you are trying to sell them something,” said Gibson, addressing financial advisors. “But in this case, you are actually trying to take life insurance, which they already own and you’re explaining to them that a life settlement can give them cash now for something that they no longer need, or they no longer want.”

Hull reinforced Gibson’s remarks from the perspective of a financial advisor, speaking about the win-win arrangement when an advisor can lead a client toward a life settlement that will yield cash from an unwanted policy. He referred to a life settlement as “a huge win for the client experience and for their balance sheet.”

Purdy then spoke to the need for more awareness of the life settlement option, citing a poll in which 90 percent of people who lapsed their policies said that they wish they had been informed about life settlements. Rising health care costs and volatility in the health insurance marketplace heighten the need for seniors to explore all of their income options, Purdy said.

After going into more depth about the opportunities advisors have to help their clients meet retirement needs through life settlement, Gibson and Purdy recommended Magna Life Settlements as a trusted source of life settlement information and resources.

“We’re a top-ranked life settlement provider,” Gibson said to conclude the segment. “In fact, over the last five years, we’ve been able to provide more cash payout to clients and consumers than any other life settlement provider in our space.”

Knowledge, Opportunity and Guidance: The New Magna Brand

We have exciting news to share: Magna Life Settlements has a brand new look!

Since Magna began more than 14 years ago, our team has been dedicated to educating life policy owners and their advocates about the living benefits life insurance holds. This year, as we grow our team and expand our horizons, we decided it was time to align Magna’s brand identity with our core purpose:

We create financial opportunities for a better life now by utilizing an unexpected asset – life insurance.

How We Rebranded

With the help of a talented, strategic design studio, we got to work bringing Magna’s core values to life. After months of strategizing and analyzing the imagery, colors, fonts and logos that could accurately represent our mission, we landed on the right combination to embody the new Magna brand. The end result? A fresh new look that provides a lasting foundation for our brand identity.

Magna Life Settlements rebranding strategy session

Collaboration session with our design studio.

The Magna Life Settlement Logo

Magna’s core value since we began in 2004 revolves around guidance, which is why our new logo includes a nod to a consistent, life-giving and guiding force in the lives of our clients: the sun. At the core of Magna’s spirit and success are industry knowledge and expertise. Everything else radiates out from that point. The outcome of our core knowledge and expertise is opportunity, which is represented in the sun rays. The synthesis of our knowledge and the opportunity that it manifests is dynamic, unique and 100% integrated. This results in unique expertise that provides a platform for guidance.


Magna Life Settlements Logo Concept

Our Color Palette

For many years we associated the Magna brand with an orange, gray and black color palette. In an effort to align ourselves more closely with our parent company, Vida Capital, we developed a new palette that complemented Vida’s cool blues, whites and grays. We ended up with a mix of warm and cool tones that work in harmony and contrast to evoke emotions of hope and trust, newness and expertise.

Magna Life Settlements Color Palette

Magna’s New Brand in Action

After aligning the look of our brand to Magna’s core values, we put our brand to work by refreshing our website and updating our marketing materials.

Magna Life Settlements Website - MagnaLifeSettlements.com

Magna Life Settlements Branding Materials

Magna Life Settlements’ Mission

To us, branding is more than beautiful design. It’s a way to show policy owners and their advocates who we are and what we stand for:

– We offer our financial solutions that one might not have known were available to them.

– We approach each policy owner with sensitivity, realizing that a life settlement is a financial transaction that is personally felt.

– We educate policy owners about the benefits available now from their life insurance, either from an investment or settlement standpoint.

– We have a solid reputation, an extensive portfolio, are backed by a proven entity and are a licensed provider in each of the 43 states where regulations require it, allowing us to serve all 50 states.

Thank you for celebrating Magna’s new brand identity with us and if you’re ready to find out the value of your life insurance, please visit our Life Settlements Calculator to receive an estimate.

Life Settlement Marketing: Pointers & Pitfalls of the Life Settlements Industry

Life Settlement Marketing - Magna Life Settlements Calculator

The life settlement industry is poised for significant growth, and that growth needs to be undertaken with expertise and integrity. That was the underlying theme of Magna Life Settlements Chief Marketing Officer Scott Harris’s presentation at the annual LISA conference in Washington, DC.

Harris addressed a room of life settlement professionals, brokers, financial advisors and other advocates with his talk entitled “Pointers and Pitfalls of Life Settlement Marketing.” First Harris outlined the chief reasons for life settlement’s promising outlook – the aging of the population, low market penetration of life settlements, inadequate retirement funding, a growing comfort with the sharing economy, the investment potential in life settlements and a shift toward more disclosure of life settlement options from financial advisors.

Next Harris turned to key marketing principles, detailing five pitfalls—with accompanying pointers to overcome them—of marketing life settlements directly to consumers:

Know and Work Within the Pertinent Regulations

A thorough understanding of the regulations placed by HIPAA, the SEC and individual states on both the healthcare and financial industries is crucial for companies seeking to market life settlements. Marketers must know the standards and present the information accurately and with respect for privacy standards, Harris said.

Implement Self-Regulation to Protect Consumers and the Industry

As recent high-profile calamities at Facebook and Starbucks have proven, self-regulation is a privilege that could be revoked if companies don’t handle it responsibly. Life settlement professionals must police themselves diligently with an eye toward transparency and accountability.

Strive for Equity Across the Board

Certain parts of the country have larger senior populations than others with more attractive candidates for settlement, and companies might be tempted to seek only the most profitable clients, but Harris emphasized that marketing should be geared equally toward serving every type of client.

Prioritize Operational Excellence

Behemoths like Amazon have grown because of their emphasis on excellence. Ecommerce success stories set an example by reminding life settlement companies to keep their standards high in everything from personnel to technology to bookkeeping so that consumers will feel comfortable doing business with them.

Never Mislead Consumers In Order to Make a Profit

For the life settlement industry to succeed in both profitability and service to its consumers, honesty in calculations is paramount. Life settlement transactions should be fairly calculated with careful attention to life expectancy projections. Every marketing decision should be made with an underlying sense of responsibility for the consumer’s best interest.

Find out who qualifies for a life settlement and use our life settlement calculator to estimate the settlement value of a life insurance policy.

Magna Life Settlements Scholarship

Magna Life Settlements Scholarship is seeking to sponsor the growth and development of a student currently enrolled, or is enrolling into a four year collegiate program. This year we will award one $1,000 scholarship to an outstanding student who is interested in pursuing a career in finance. The deadline for submission is September 1st 2019:


To be considered for the Magna Life Settlements Scholarship you must:

1. Be a high school senior or currently enrolled.

2. Plan to attend a four-year college or university in the fall of the year following high school graduation.

3. Plan to pursue a bachelor’s degree in finance or related field.

4. Demonstrate a passion for finance.

5. Demonstrate leadership at school or in the community.

6. Have a cumulative GPA of 3.3 or higher.

7. Require financial assistance to attend college.

How to Apply

To apply for the Magna Life Settlement Scholarship, email the following documents to scholarship@magna-life.com:

1. Two letters of recommendation

At least one letter must be from a faculty or staff member at your school. Letters of recommendation should be original and should not be duplicates of college recommendation letters. (Letters must be on letterhead.)

2. Résumé

Your résumé should include the following information:

—Extracurricular activities (school and community related)

—Honors and awards that you have received (if possible, include awards that are finance related)

—Work experience

3. Picture of yourself

4. Transcript

Include an official “sealed” copy of your current academic transcript. (Unofficial copies will not be accepted.)

5. Two essays

1. In no more than 500 words, describe how you plan to engage in the technology industry in your future career. (If you have done exemplary work using technology during high school, please describe that also.)

2. In no more than 250 words, demonstrate your financial need for this scholarship. 

Magna is Please to be Represented at the ELSA Autumn Symposium

The European Life Settlement Association (ELSA) will be holding its Autumn Symposium on Tuesday, November 29. The conference is being held at the Earlsfort center in Dublin, Ireland, and will provide an important opportunity for decision makers in the Life Settlement Industry to meet and discuss issues affecting the Senior Life Settlement market.

The Managing Director of Vida Capital Sàrl, Brandon Wright, will be speaking along with three others about the Tax and Regulatory Update from Ireland, Luxembourg, and the US.

Brandon’s industry experiences uniquely qualify him to give this update.

His extensive background includes:

  • Managing Director of Vida Capital Sàrl based in Luxembourg since 2011.
  • Assisted in managing $3.1 billion in multi-family tax credit equity investments with capitalized development costs in excess of $7.3 billion.
  • Formerly a private lending officer focusing on bridge and mezzanine lending across all asset classes of commercial real estate.
  • B.A. from The University of Texas at Austin.

You won’t want to miss Brandon speak!

The speakers for this year’s Symposium include:

Key Note Speech

  • Maurizio Pastore

Tax and Regulatory Update from Ireland, Luxembourg, and the US

  • Yves Lacroix
  • Miriam Martinez
  • Aiden Small
  • Brandon Wright

Medical Underwriting and Valuation in the Life Settlements Market

  • Jiahua Xu

Industry Standards

  • Simon Erritt

Life Settlements/Structured settlements/UK Secondary Annuities

  • Andrew Luack
  • Alex Taylor
  • Scott Willkomm



Magna Speakers at LISA Fall Conference

On October 16-18, Magna President Dan Young and General Counsel David Serra attended an spoke at the  22nd annual Fall Life Settlement and Compliance Conference in Scottsdale, Arizona. The conference was held by the Life Insurance Settlement Association (LISA), which brings together professionals from all parts of the life settlement industry, with a wide range of speakers whose expertise is in high demand. Dan and David spoke on the topic of “Market Integrity–Key to Growth of the Life Settlement Industry.” Thy discussed issues beyond the current legislative and regulatory framework that are necessary to maintain a highly respected market where consumers may sell their policies with confidence and trust.


Magna Attends 2016 Fall Lisa Conference

Magna is pleased to announce that Magna President Dan Young and General Counsel David Serra will be speaking at the 22nd annual Fall Life Settlement and Compliance Conference in Scottsdale, Arizona on October 16-18. The conference is being held by the Life Insurance Settlement Association (LISA), and brings together professionals from all parts of the life settlement industry, with a wide range of speakers whose expertise is in high demand. Dan and David will be speaking on the topic of “Market Integrity–Key to Growth of the Life Settlement Industry,” and will discuss issues beyond the current legislative and regulatory framework that are necessary to maintain a highly respected market where consumers may sell their policies with confidence and trust.

Both Dan and David’s industry experience make them uniquely qualified to speak on this topic.

Dan’s extensive background includes:

  • President of Magna Life Settlements
  • Vice President for Vida Capital
  • Adjunct professor at the University of Texas Law School
  • Board Member of the Institutional Longevity markets Association
  • Board Member of the Life Insurance Settlements Association (LISA)

Additionally, David’s background encompasses these things:

  • General Counsel of Magna Life Settlements
  • Has provided legal advice and leadership to organizations and individuals in business, government and academia for the past 23 years.
  • Director & General Counsel of the C. Everett Koop Institute and Foundation at Dartmouth College
  • Appointed by Governor of Vermont state government to lead and provide counsel to a publicly-regulated, highly innovative agency of the VT government.
  • Litigation associate with a Montpelier, VT firm.

You won’t want to miss their talk! If you haven’t registered, there’s still time! Click HERE for more information.

The activities at the conference will include:

  • Learning the latest industry trends.
  • Network with top industry players.
  • Receive market updates from expert speakers.
  • Participate in interactive sessions.
  • Attend marketing sessions to help you grow your business.
  • Gain insight from topics covering all aspects of the life settlement transaction from consumer to investor


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