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Senior Settlements

Why would someone want to "sell" a life insurance policy?

Maybe your tired of paying for a policy you no longer need.
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..
What is meant by the "sale" of my Policy?
A life insurance policy is considered personal property, like a house, car or stocks and bonds. Like those assets, it can legally be bought and sold. You actually transfer all rights and obligations of your life insurance policy to a third party for a percentage of the face value of that policy. The full value of the policy will eventually be paid to the third party.

Your money now to enjoy the wonderful things in life. OUR GUARANTEE: We respect your privacy! The information we collect is held in the strictest confidence and isused for internal review. It will not be shared with other organizations.

Changing Circumstances:
Retirement
Affordability of Premiums
Change in Estate Size
Death of the Beneficiary
Sale of a business or Financial Planning Changes.

Other Issues:
Insured wishes to distribute funds while living
Desire to invest funds
Policy has not met original illustrated values
Charitable Foundation holdings policies
Poorly performing defined benefit plan.

CHANGES IN ESTATE AND BUSINESS PLANNING NEEDS

Estate Planning:
A single insured's policy is no longer appropriate - a survivorship policy is more preferable - 1035 exchange rule is avoided.
There is a reduction in estate size due to loss of net worth or completion of estate planning techniques and less insurance is required to fund projected estate tax liability.
A policy needs to be removed from an estate. The three-year-rule can be avoided by using the proceeds to repurchase a new policy outside the estate.

Business Changes:
Key person policy is no longer needed due to retirement or change in business structure.
Buy/Sell funding is no longer required.
Policy is entangled in litigation.
Business owns policies that are performing poorly.
Bankruptcy causes liquidation of assets.
Deferred compensation programs have changed.

Personal Planning:
Policy has not met original illustrated values and premiums have to be increased or policy will lapse.
The sale of a policy allows for current distribution of funds.
Divorce changes desired need for life insurance.
Personal financial situation makes premium payments unaffordable.
Funds can be used to pay down loans or outstanding debt.

Charitable Organization:
Charity is paying premiums on gifted policies.
Before a policy is gifted to a charity for its value, it can be sold for a possible higher donation and write-off for the donor.

QUALIFYING FOR POLICY PURCHASE:
Males age 60 and older or females age 64 and older will usually qualify. Although health conditions such as diabetes, heart disease, or pulmonary issues may bring the qualifying age down.

POLICIES CONSIDERED
Minimum face amount of $100,000
Type of Policy:

Term Life

Variable Life

Whole Life

Survivorship Life

Universal Life

Adjustable Life

Group

Joint First to Die

The good news is there is now a choice to access those funds today.
To see if your policy (senior settlement) qualifies and for more information.

People now have a choice and do not necessarily need to be locked into a insurance program that does not meet their lifestyle or present needs.

OUR GUARANTEE: We respect your privacy! The information we collect is held in the strictest confidence and isused for internal review. It will not be shared with other organizations for commercial purposes.

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