Ep. 88: Life Settlement: Reviving Your Life Insurance Policy

Spot On Insurance

Asher Spetner and Geoffrey Gottesman are part of the team behind Genesis, a life settlement company for high-end advisors and affluent consumers. Their primary goal is to help clients turn their life insurance into a cash asset. Asher is the Director of Operations and is largely responsible for the company’s growth and profitability. Geoffrey is the Managing Director and some of his functions include leveraging efficient strategies to hit goals and closing hard cases in the industry.

Asher and Geoffrey join us today to explain what the life settlement sector is about and how policyholders can benefit from it. They describe how their business works and how it helps clients who were otherwise unaware of the amount of money they can get from their life insurance. They share why this sector is often viewed from a negative perspective and how they plan to change that. They also share some of their future projects and ongoing developments.

“When you have an asset, it's worth something. It's either going away or not, but you can make some money out of it.” - Asher Spetner

Today on Spot On Insurance:

• Their backstory and how they started working in the insurance industry.
• Their motivation for chasing a career in the life settlement sector.
• Challenges they faced in their road to success.
• What most life insurance buyers don't know about their policies.
• Why the life settlement sector gets a bad reputation.
• Their advice for existing and new policyholders.
• Differences in premium policies between term and universal life insurance.
• How they plan to change the public perception of life settlements.
• Regulatory hurdles their industry deals with.
• The projects they have in store for their clients.

Key Takeaways:

• Less than 1% of insurance policies are being paid out.
• Sometimes the biggest challenge you will ever face is not knowing what to do.
• The life settlement space has been around for over a hundred years.

Resources Mentioned:

• Winning Is Everything Conference

Connect with Asher Spetner:

• Genesis
• LinkedIn

Connect with Geoffrey Gottesman

• LinkedIn
• Phone: [phone]

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

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