Mason Finance, a San Francisco-based fintech firm, has secured new licenses to provide life insurance settlement services in California, Arizona, North Carolina, Tennessee and Pennsylvania.
Following the receipt of new approvals, the company now has presence in Washington DC and 12 US states such as Alabama, Michigan, Missouri, New Mexico, South Carolina, South Dakota, and Wyoming.
With the new licenses, Mason joins the league of few other companies who have been granted permit to buy life insurance policies from consumers, if they want to sell their policy.
California insurance commissioner Dave Jones said: “I commend Mason Finance for its innovative and new approach to making life settlements available to seniors whose life insurance policies are at risk of lapsing or who need to access the value of their life insurance policy immediately. (read more)