Magna Life Settlements
- Company typePrivate
- Founded2004
- HeadquartersAustin, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
Magna Life Settlements firmographics
Firmographics- Name
- Magna Life Settlements
- Legal name
- Magna Life Settlements, Inc.
- Website
- https://magnalifesettlements.com
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Magna Life Settlements industry classification
Industry- Product category
- Life Settlement Services
- NAICS
- Direct Life Insurance Carriers (524113)
- SIC
- Life Insurance (6311), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Whole Life Insurance (FSAIABAA)
- akta.pro secondary industries
- Level Term Life Insurance (FSAIAAAA), Survivorship / Second-to-Die Life Insurance (FSAIABAE)
Keywords
Where Magna Life Settlements is headquartered
LocationHeadquarters
- HQ city
- Austin
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Magna Life Settlements business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Life Settlement Transactions: Magna purchases life insurance policies from policyholders at prices above cash surrender value but below death benefit, then takes over premium payments and collects the death benefit upon the insured's death. Revenue comes from the spread between purchase price and ultimate death benefit.
- Viatical Settlements: Similar to life settlements but specifically for those diagnosed with chronic or terminal illness. The payout is determined by the policy's death benefit and expected lifespan of the insured.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Life Settlement Transaction |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
Magna Life Settlements product offering
Product offeringCore offering
Magna Life Settlements purchases life insurance policies from policyholders (typically seniors over 65) for cash amounts that exceed the policy's cash surrender value but are below the death benefit. Magna takes over future premium payments and ultimately collects the death benefit. The company also offers viatical settlements for individuals with chronic or terminal illness, and serves as a vertically integrated platform through its parent Obra Capital.
Product overview
Magna Life Settlements operates as a licensed life settlement provider offering a portfolio of services centered on helping seniors (primarily those over 65) convert unwanted life insurance policies into immediate cash. The core offering is the Life Settlement Services, complemented by specialized Viatical Settlement Services for chronically or terminally ill individuals. Supporting tools include the Life Settlement Calculator (for consumer eligibility estimation), Agent Calculator (for financial professionals), and Term-to-Universal Life Conversion Assistance. Additional products include the Retained Death Benefit partial settlement option, Cash Surrender Value Calculator, and the Preferred Agent Program for professional partners. The company is licensed as a viatical settlement provider in 20 states and a life settlement provider in 19 states, plus operates in 8 unregulated states.
Differentiator
Problem solved
Functional benefit
Products and services
- Life Settlement Services Core service enabling seniors (typically over 65) and other policyholders to sell their life insurance policies to Magna for a cash payout that exceeds the policy's surrender value but is less than the death benefit. Magna takes over premium payments and receives the death benefit upon the insured's death.
Quantifiable outcome
- Settlement payouts typically range from 20% to 25% of policy value, potentially reaching as high as 50% in favorable cases
- +1 more outcomes
Companies that use Magna Life Settlements
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Magna Life Settlements technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Magna Life Settlements partnerships and signals
Strategic signalScale indicators4 records
Recent moves4 records
Expansion highlights5 records
Magna Life Settlements competitors and assessment
Company assessmentDirect peers
- Long Life Financial: Direct life settlement provider specializing in policy purchases from seniors over 65. Comparable peer focused on the same core settlement product as Magna.
- Ashar Group: Life settlement provider offering policy acquisition services with multi-state licensing — comparable direct competitor serving the same senior policyholder segment with similar settlement and viatical offerings.
- American Life Fund: Direct life settlement provider that purchases policies from seniors; now part of F&G/Empower ecosystem. Comparable in product offering (life settlements, viaticals) and customer segment.
- Abacus Life: Publicly traded (NASDAQ: ABL) life settlement provider that purchases policies from seniors — closest publicly traded direct competitor to Magna in the U.S. secondary life insurance market. Operates an integrated origination, pricing, and institutional-buyer platform similar to Magna's model.
- Q Life Settlements: Life settlement provider serving policyholders and financial advisors with policy purchase and origination services. Direct competitor in the same SMB/senior segment.
- Coventry (Coventry First): One of the original life settlement providers offering policy origination, evaluation, and servicing to financial advisors and policyholders. Directly comparable to Magna's agent-led and consumer channels.
- Stone Street Financial: Direct life settlement provider focused on purchasing life insurance policies from seniors. Comparable direct peer in terms of product line, target market, and channel mix.
- GWG Holdings (legacy): Formerly one of the largest institutional buyers of life insurance policies in the U.S. secondary market (now in wind-down). Directly comparable in business model — purchasing policies, holding them, and collecting death benefits.
Broad incumbents
- Lincoln Financial Group: Large diversified life insurance carrier and annuity provider; competes indirectly via accelerated death benefit riders and lapse-support programs that compete for the same senior policyholders Magna serves.
- F&G Annuities & Life: Publicly traded life insurer and annuity provider; broader incumbent that operates in adjacent longevity products and owns American Life Fund. Competes for the same senior retirement-income wallet as Magna's settlement customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Magna Life Settlements social profiles
Digital presenceMagna Life Settlements financial estimates
Financial estimateRevenue estimate
Valuation estimate
Magna Life Settlements leadership team
Management profileNumber of profiles
Profiles2 records
Magna Life Settlements funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Magna Life Settlements M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Magna Life Settlements
What does Magna Life Settlements do?
Magna Life Settlements purchases life insurance policies from policyholders (typically seniors over 65) for cash amounts that exceed the policy's cash surrender value but are below the death benefit. Magna takes over future premium payments and ultimately collects the death benefit. The company also offers viatical settlements for individuals with chronic or terminal illness, and serves as a vertically integrated platform through its parent Obra Capital.
Is Magna Life Settlements a public or private company?
Magna Life Settlements is a private company. It is classified as private equity controlled and is currently operating.
When was Magna Life Settlements founded?
Magna Life Settlements was founded in 2004. It employs 51 to 100 people.
Where is Magna Life Settlements based?
Magna Life Settlements is headquartered in Austin, United States, in the North America region.
How does Magna Life Settlements make money?
Two revenue lines are on record. Life Settlement Transactions are the primary driver. The others are viatical Settlements.
Who are Magna Life Settlements's main competitors?
Direct peers on record are Long Life Financial, Ashar Group, American Life Fund, Abacus Life, Q Life Settlements, Coventry (Coventry First), Stone Street Financial and GWG Holdings (legacy). Broad incumbents are Lincoln Financial Group and F&G Annuities & Life.
Does Magna Life Settlements have an API?
No public API is recorded for Magna Life Settlements.
What industry is Magna Life Settlements in?
Magna Life Settlements's product category is Life Settlement Services. Its primary akta.pro industry code is FSAIABAA, Whole Life Insurance, with a secondary code of FSAIAAAA, Level Term Life Insurance. Its NAICS code is 524113 and its SIC code is 6311.