A life settlement involves the purchase by a third party of a life insurance policy which has become unnecessary or unwanted. Life settlements are a relatively new part of the financial services universe, but they represent a large market which is experiencing exponential growth.

Life settlements offer consumers and their professional advisors a whole new set of options. Prior to the development of a secondary market for life insurance, an unwanted or poorly performing policy could only be allowed to lapse, be surrendered for the cash value or converted to one of the settlement options dictated by the insurance company. A policy which qualifies as a life settlement has a market value which is higher (often significantly higher) than the policy's cash value. The proceeds from a life settlement can be used during the insured's lifetime for business, personal or charitable purposes. It's also often possible to provide new coverage on a more efficient basis.

Co-Managing Directors Russel Dorsett and Steve Shorrock have decades of experience in executive positions in the life insurance industry.

A Texas native, Russel Dorsett is known globally and has been a principal speaker at conferences and conventions around the world. He has served as a senior executive for a number of major companies, including eight years as the Managing Director and CEO of AIA Australia and AIA Superannuation Company. Dorsett also had regional responsibilities for AIG's life and pension businesses in Australasia. He has an undergraduate degree from the University of Texas and has held the Chartered Life Underwriter (CLU) designation for over 25 years.

Steve Shorrock served as President/CEO of Bankers Life of New York from 1990 to 2003 and increased sales dramatically to $25 million during his tenure. He also served as CFO of Bankers Life¹s parent company, the AmerUs Life Group. Prior to moving into private practice, Shorrock served as COO of Improved Funding Techniques, Inc., an independent actuarial, consulting and administrative firm specializing in highly customized qualified plans for high net worth individuals. Shorrock has a MBA in Finance from Temple University and has achieved the designations of Chartered Financial Consultant (ChFC), Certified Long-Term Care Consultant (CLTC) and Fellow of the Life Management Institute (FLMI).

You can contact Select Life Settlement Corporation at 713-557-9443 or mail@selectlife.net