Lighthouse Acquires Harbor Life Settlements Websites
Michael Freedman, the CEO, says the deal will boost his firm's lead-generation capacity.
Lighthouse Life wants to ramp up life settlement volume.
The Conshohocken, Pennsylvania-based life settlement firm has bought websites and other assets from Harbor Life Settlements, a life settlement lead-generation firm based in Austin, Texas.
Michael Freedman, the Lighthouse Life CEO, said his company plans to use multiple brands for lead generation and other strategies to accelerate life insurance policy acquisition flow.
The company wants asset managers to see it has a true and trusted market-maker for longevity-risk assets, Freedman said.
Lighthouse is a major player in the business of buying and reselling in-force life insurance policies.
Lucas Siegel, its founder, has said he got into the business because of what he saw when his grandfather had to let an unaffordable life insurance policy lapse.
“What Mr. Siegel didn’t know, and what Harbor Life wants to teach all seniors, is that he could have sold his life insurance policy for up to 70% of the death benefit, in cash,” according to Harbor Life’s website. “Lucas doesn’t want what happened to his grandfather to happen to you or someone you love.”
The list of major Lighthouse Life competitors includes Coventry First, which is privately held, and Abacus Life, a publicly held company that’s been using Wall Street cash to expand marketing efforts.
Michael Freedman. Credit: Lighthouse Life