Sell an Asset That is No Longer Needed
What is a Life Settlement?
A Life Settlement is a revolutionary financial planning tool that allows senior insureds to sell a life insurance policy to a third-party for an amount greater than the cash surrender value. The sale involves an insured normally age 65 or older, with a policy that is no longer appropriate or affordable, to a third-party investment company which provides the owner of the policy with a lump sum cash settlement.
Why would someone “Sell” their policy?
Policies are sold for many and varying reasons. In many cases, the original purpose or need for the policy has changed or has diminished entirely. A life insurance policy is considered a personal property asset. Like any asset, the owner of the policy has the right to sell their policy to a willing buyer and obtain a present market value for the future death benefit. To get the best offer, policies should only be sold through a professional life settlement broker.
When should a life insurance settlement be considered?
The ability to obtain cash today for a life insurance policy can create many financial planning opportunities. These are some common circumstances leading to a life settlement:
* Death of a Beneficiary
* Sale of a Business
* Dissolution of Partnership
* Premiums no longer affordable
* Change in size of Estate
* Key employee leaving company
What is the Value of a Policy?
The present market value of a policy is determined by the following factors:
* Premiums required to maintain policy
* Current cash values or loans, if any
* Financial status of the insurance company
* Age and health of the insured
* Life actuarial tables
* Current market interest rates
What are the life settlement qualification parameters?
The Insured – Seniors are 65 and older
Ownership – The insured, a trust, corporation, or any entity can own the policy
* Minimum face amount of $250,000
* Insurance carrier rating – S & P – A
* Policy is past the contestable 2 year period (some states require 5 year ownership)
(Fill out this form*, or call 1-800-936-5508):
“Thank you for your caring and compassion in working with me on selling my life insurance. You handled all of the complex details with such professional caring…you gave me a great peace of mind. I am able to focus on all the other things I need to do…thank you again for your blessings! And for helping me during my journey!”
- Mary B.
“Now our lives are more stable and definitely less stressful.
We can face the future with a more secure outlook.”
- Raymond and Norma Meyer