A Woodcliff Lake, N.J.-based life settlement firm has been approved to buy life settlement policies in three new states, giving it a total of 39 states in which it can operate.

Guy Runyon, president and CEO of EAGiL Life Settlements, said his firm has been approved to transact life settlement policy business in Maine, West Virginia and Tennessee.

“EAGiL remains committed to its mission of providing seniors and their families with compelling options,” Runyon said in a statement.

The company is part of the EAGiL Brand, which includes EAGiL Financial Group, which specializes in estate planning for high net-worth individuals. That company works to place high net-worth individuals in programs driven by life insurance, according to Runyon.

The economy is providing new opportunities to explore life settlements, he said.

“We continue to see the viability of the life settlement transaction emerging as a practical solution in many estate planning scenarios on Main Street, and on Wall Street,” Runyon said. “In a given circumstance, if a life settlement is not practical, we do not close the door; we exhaust all our efforts and often create a blueprint for the senior’s exit strategy which still accomplishes their ultimate goal.”