Bill Schantz on Blogger: August 2020

Thursday, August 20, 2020

Debunking the Myths of Life Settlement

A New-Jersey based multiple-business owner and insurance executive, Bill Schantz has served in the investment and insurance industry for over 40 years. A highly experienced professional, he owns and operates multiply firms under his umbrella company, Mid Atlantic Financial, LLC. Among the companies in his portfolio are Senior Settlements, LLC, Bedrock Capital Group, LLC, and Harper Financial, LLC. With Senior Settlements, Bill Schantz introduced life settlements as an asset class into the capital market.

Life settlement can be a fantastic option for seniors closing in on retirement. Yet, like so many things, many people avoid it because of the various myths they've heard. An example of such misconceptions is only people with terminal illnesses qualify for life expectancy. While there is a life settlement option for people with terminal diseases, anyone older than 65 can sell their insurance policy for life settlement.

This age restriction is because life expectancy plays a crucial role in how life settlement companies value insurance policies. Usually, anyone below 65 and without a terminal condition is considered too young to qualify for life settlement. Another popular myth is only insurance packages worth around $1 million qualify for life settlement. However, while most investors prefer policies with high value, the minimum worth of an insurance package that qualifies for life settlement is $50,000. Also, most people believe life settlements aren't legal or government-regulated. On the contrary, life settlement is licit according to state and federal laws.

About Bill Schantz

A celebrated insurance industry professional, Bill Schantz is the owner of Mid Atlantic Financial, LLC, in Maple Shade, New Jersey. Through the company, Bill Schantz oversees the operations of subsidiary companies dealing in various aspects of insurance, including life settlements, premium financing and private offerings that specialize in insurance linked assets. He oversees human resources, budgeting, forward planning, marketing, and regulatory compliance.

Mr. Schantz has been able to grow his companies through innovative product development and top-level marketing. Before establishing Mid Atlantic Financial, LLC, over 22 years ago he was a district manager at Independent Order of Foresters, where he managed a district field force of 60 financial sales agents and was consistently ranked among the top 10 salesmen for over a decade in a company-wide field of about 3,000.

A graduate of Villanova University, Bill Schantz is a member of the Life Settlement Association. Over his 22 years pioneering the life settlement industry he has given many presentations at industry forums and has developed multiple strategies using insurance linked assets. In a study of 9,000 policies that were the subject of a life settlement between 2001 and 2011, policy owners received more than four times the cash surrender amount through a life settlement. Aside from the obvious benefits for the policy holder, the study also found that the expected internal rate of return for investors are consistently and significantly higher than treasury yields. The life settlements asset is an example of ethically and socially responsible investing. This is truly a Win-Win-Win scenario.
Mr. Schantz has recently celebrated his 40th wedding anniversary with his wife Phyllis. He is the proud father and grandfather of 5 children and 9 grandchildren.