Phone: 212.448.7636 For Immediate Release
NAF Funding and Morstan Plus Announce Cooperative Agreement
New York, NY - January 2nd, 2008 - Now & Forever Funding, LLC (NAF Funding) and Morstan Plus (Morstan) today announced the signing of a cooperative agreement enabling the two companies to jointly identify opportunities to expand life settlement activity within Morstan’s producer network. Under the terms of today’s agreement, NAF Funding, a leader in the life settlements industry, will act as a life settlement broker for Morstan and their large network of insurance and financial professionals. Both sides used the occasion to reiterate their belief that education is of paramount importance in this emerging market.
The life settlement market is growing at a phenomenal rate as baby boomers join the ranks of policy holders in their 60s, 70s, and 80s. According to 2006 Bernstein Investment Research of New York City figures, life settlements are expected to top $19 billion in 2006, and could grow to $160 billion over the next several years.
Steven Lowinger, CEO, "NAF Funding believes life settlements are a financial tool that all seniors should be aware of and consider with their fiscal advisors. This agreement embodies our commitment to offer our services through a high caliber of qualified and proficient financial professionals".
"While looking for a broker, our focus was on performance, ethics and a company’s longevity and ability to be a long term partner for Morstan, " according to Talma Nassim, President of Morstan Plus. "NAF Funding was on the forefront in all of these categories and subsequently a natural choice for us".
While life insurance is a mainstay of financial planning, many seniors have experienced a change in circumstances and lifestyle since originally acquiring these policies. Often the insurance policies are no longer needed or wanted, the premiums may be a financial drain, and the client explores options of surrendering the policy. A life settlement may offer a better alternative to surrender, recouping more value for the client.
About Now & Forever Funding, LLC
NAF Funding is the nation's premier broker of life settlement services and identified as one of the fastest growing life settlement companies in the country (BusinessWeek July 30, 2007). Using proven, cutting-edge technology, NAF Funding represents qualifying seniors, age 65 and older, in selling their unneeded or unwanted life insurance policies. The company operates local offices across the country, and is headquartered in New York City.
NAF Funding provides an end-to-end turnkey solution for policyholders and investors alike. The company has taken the life settlement industry by storm, using a leading-edge software system that eliminates paperwork, streamlines much of the settlement process, and reduces the cost per transaction. NAF Funding has relationships with leading funding sources in the marketplace, ensuring clients receive the most competitive offers.
We believe in the importance of ethical conduct at all levels in the life settlement process. NAF Funding has made a commitment to client confidentiality and fraud prevention, evidenced by our internal compliance review processes. NAF Funding is a member of the Life Insurance Settlement Association—LISA; the National Association of Insurance and Financial Advisors—NAIFA; and is a National Ethics Bureau™ sponsor, an independent organization that verifies the business ethics of insurance and financial advisors. The company is self-regulated to enhance these standards. NAF Funding offers full transparency for costs and commissions to both clients and advisors.
About Morstan Plus, Inc.
Morstan Plus was founded in January 1999 by Talma Nassim, Al Eskanazy, Jay Levy, Howard Levy and Bob Finkel. Talma Nassim, who has been in the insurance industry for 22 years, is President of the company. Talma Nassim is also a Chartered Life Underwriter, (CLU) and Charted Financial Consultant (ChFC).
Morstan Plus was built to provide Property & Casualty brokers, with the ideas and strategies necessary to grow Life, Health, Disability, Long Term Care and Annuity insurance business. As one of the leading insurance general agencies, Morstan offers the highest levels of personal and professional service.
Morstan Plus is a division of Morstan General Agency, Inc. (MGA) a multi line Insurance General Agency and Insurance Wholesaler. MGA was established in 1962 and has been under continuous management since January 1980. MGA has ten branch offices with locations in New York, New Jersey, Pennsylvania, Ohio and Florida. Morstan’s uniqueness is our representation of more than 80 insurance companies and $350,000,000 in insurance premiums annually.
