Milestone Providers, a Pennsylvania based life settlement provider, is pressing forward into 2009 with great expectations and significant objectives as they look at the year in review. For the year 2008, Milestone realized a significant increase in life settlement submissions over 2007, with a 32% increase in total policies submitted and a 26% increase in small policy submissions. “We are obviously pleased with the '08 results. Our increase in policies purchased from '07 to end of '08 was over 200%, and so far for this year, we are at 50% of the '08 numbers for policies under contract. We are also seeing a continued increase in policies submitted and policies purchased,” said Kristian Armstrong, CEO of Milestone. In addition to the increase in policies submitted, Milestone received policies from 233 new brokers and agents in 2008.
Brokers and agents alike have been pleased with Milestone's signature quick turn-around time on everything from offers to contracts; and have seen their commissions increase through the use of Milestone's “No Policy Left Behind” program, which focuses on smaller policies ranging from $50K to $950K in face amount. Milestone credits much of the increase in policy submissions to its efforts in broker/agent relations, and the ability to process large volumes of policies in a seamless and timely manner. When asked about Milestone and the current market, Mark Naimy, Marketing Director of CIGI Direct Insurance Services, Inc. stated, “We've done business with Milestone for years and have been very impressed with their turn-around time and their integrity. During the recent market downturn, several funders pulled offers, causing us major headaches, but Milestone remained solid. They didn't pull any offers then, and they continue to be strong buyers in a soft market.”
Milestone attributes its continued success to being the first and only life settlement provider to find value in the smaller face amount policies, which have traditionally been overlooked. “We knew early on that one of the ways to ensure the sustainability of this industry was to service the needs of the average American. When you offer viable options for policies owned by the average American, you will find success,” Douglas Lehman, COO of Milestone said, when asked about the key elements of a successful year. “We're transacting more life settlements than ever now, and the agents and brokers are realizing the tremendous value we provide to them and their clients in these tough times,” continued Lehman.
A life settlement is the sale of an existing life insurance policy to an institutional investor. Milestone's market innovations, leadership, and business practices have established Milestone as one of the most respected life settlement providers in the industry. Working directly with one of the world's largest asset managers, Milestone operates under the slogan “We didn't create the life settlement market, we fixed it!”
Contacts:
Milestone Providers
Matt Boaman
Manager of Inside Sales
888-877-5686
mboaman@milestonesettlements.com