Life Settlements
Are you considering lapsing or surrendering a life insurance policy?
Have the annual premiums become a financial burden?
Has the policy owner's financial situation changed since taking out the policy?
Has the insured's health declined since taking out the policy?
Are health & medical expenses causing a financial strain?
Would you prefer to do your gifting while living?
What is a Life Settlement?
What is a life settlement? It’s the sale of a life insurance policy to a third party for a value in excess of the policy’s cash surrender value, but less than its net death benefit. When you complete a life settlement, you can eliminate your obligation to pay those monthly policy premiums. More than
that, the sale proceeds can help in so many ways, from paying for assisted living and reducing debt, to improving your general quality of life and enjoying retirement with less financial stress.
Who is eligible?
Among others, we look primarily at these two factors:
Insured's Age & Health Details:
Older insureds with health impairments are more likely to qualify. Younger insureds must be diagnosed with a severe or end-stage health condition. Regardless, it’s best when an insured is over the age of 65.
Your Life Insurance Policy -
Most policy types can qualify for a life settlement, from Universal Life to Convertible Term and
even some group policy certificates. However, some policies, though, may be the subject of restrictions
that affect life settlement eligibility ̶ check with us for details.
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