HomeWho is a Candidate?
A life settlement is a sale of an existing life insurance policy that gives the policy owner cash in excess of the current cash surrender value.
Types of policies include universal, whole life, term insurance, variable, survivorship, group insurance, and key man coverage's.
What are the circumstances that might result in the sale of a life settlement?
- Underperforming policies, policies that have not performed to the market
- Reduction in estate taxes, insurance coverage no longer needed
- Divorce or bankruptcy
- Family Changes
- Changes in health
- Retirement
- Sale of the business
- Departure of a business partner
- Death of a spouse or beneficiary
- Changes in estate planning objectives
- Opportunity to purchase new coverage and use proceeds to fund premiums
- Life insurance remains an innovative product and life settlements remain an innovative wealth and estate planning tool
20% of policies on insured's over age 75 have a market value that exceeds their surrender value.
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