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Seniors are finding profit in old life insurance with a life insurance settlement. Here is one
of their stories.
What used to be a well kept secret is slowly becoming common knowledge: A senior life
insurance policy owner can sell their life insurance policy for a sum that is generally 2 to 5 times
greater than the policies cash surrender value with a financial instrument know as a life insurance
settlement.
Bob S took out a universal life insurance policy when he was 52. He took purchase the life
insurance policy in the event of an untimely death and he wanted assurance that the needs of his family
would be met. He was married, had 3 children and a mortgage. His goal was to put his family in the
position of being able to pay off college for all three kids, pay off the mortgage and provide his wife
with a modest level of income.
As the years went by he managed to achieve all of these goals and at the age of 72, he took
a look at the policy and began wondering if he should keep it going. The face value of the policy was
$1,000,000 and the annual premiums were at $29,000 a year.
He read a newspaper article that discussed how he could actually sell his policy for a
profit. He began to investigate and learned that the first step was to complete a life insurance
application. This would give the life insurance settlement company with the permission, or authorizations
to pull his case together for the purposes of getting an offer on his policy. His authorizations would
allow the company to contact his insurance carrier to obtain the necessary illustration and to contact his
doctor (s) to obtain his medical records. Once this was done, the life settlement company would obtain a
special report referred to as a life expectancy report. With all of these documents the life settlement
company would frame his case and present to a long list of potential buyers. These entities are also
referred to as life insurance settlement funders and providers.
After approximately 35 days, he was contacted with an offer for his policy. Several days
later other offers started to come in. He eventually accepted and offer for $260,000. There are several
factors to determine if you might be eligible for a Life Insurance Settlement, which are discussed in
detail at www.aimsettlemens.com
life insurance settlement - life settlement - viatical life settlement |
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Case Example #1; Policy Type = Term; Age = 81; Sex = Female; Face Value = $3,500,000; Cash Surrender = $0; Life Settlement = $850,000 Case Example #2 - Policy Type = Universal; Age = 75; Sex = Male; Face Value = $5250,000; Cash Surrender = $21,000; Life Settlement = $72,000 Case
Example #3 - Policy Type = Key-Man;
Age = 72; Sex =
Male Case Example #4; Policy Type = Term Life ; Age = 74 / impairment; Sex = Male; Face Value = $175,000; Cash Surrender = $0 ; Life Settlement = $64,000 Case Example #5 - Policy Type = Whole Life ; Age = 80; Sex = Female; Face Value = $750,000; Cash Surrender = $67,500 ; Life Settlement = $218,000 |
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