SOURCE: Amrita Financial

Amrita Financial

November 04, 2009 08:00 ET

Seniors Turn to Internet for Life Settlements, Trumping Unethical Life Settlement Brokers

Amrita Financial Provides Seniors With the Tools, Resources and Information Needed to Obtain the Highest Life Settlement Amount Possible

OCEANSIDE, CA--(Marketwire - November 4, 2009) - With backgrounds in insurance and finance, the founders of Amrita Financial were well aware that the life settlement industry was booming when they decided to start a life settlement brokerage in 2007. Life settlements occur when someone sells their existing life insurance policy for an immediate, lump sum payment. The seller gets money immediately, while the buyer, usually large financial institutions, collects the death benefit when the insured dies.

Unfortunately, Amrita Financial found there were many life settlement brokers (the middle men in the life settlement process who work on behalf of seniors to negotiate the highest offer for their insurance policy from buyers) who were not necessarily equipped to transact life settlements or even knowledgeable in the process. Rather than going through the lengthy and labor intensive process of obtaining competitive bids from a large network of reputable financial institutions, many contact just one buyer to sell a policy as quickly and easily as possible.

After seeing this repeated over and over again from competing life settlement brokers, it was obvious that there had to be a better way. Seemingly, the only way to help the consumer was to remove the life settlement broker from the process. Amrita Financial took inspiration from do-it-yourself websites in the real estate industry and applied some of those principles to the life settlement process. Empowering consumers with all of the information needed make the best financial decision and giving them control of the process would ensure seniors always received the most money for their policies.

Amrita Financial launched to provide consumers with a direct conduit to the financial institutions that buy life insurance policies. Through this website consumers have total access to information such as the number of buyers that are bidding on a policy and what the current offers are with just a few clicks of the mouse. As part of the process, Amrita Financial even refunds a portion of the life settlement commission back to the consumer when the transaction is complete.

When asked how the new life settlement tool has been received, Kevin Mathis of said, "We have had a great reception from just about everyone except life settlement brokers. But maybe, that's how we know we are doing something right."

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About Amrita Financial:

Amrita Financial is a web based do-it-yourself life settlement service that enables consumers to autonomously sell their life insurance policy to financial institutions without using a broker. In addition, Amrita Financial gives sellers a refunded portion of the commission paid by the buyers in life settlement transactions. Amrita Financial Inc. was established in 2008 to better serve those that want to sell their life insurance policies in a life settlement.

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