Qualifications

Who is a candidate for a life settlement?

Ideal Life Settlement criteria:

• Universal Life, Whole Life, Variable, Convertible Term
• $250,000 minimum face amount
• Age 70 and above
• Life Expectancy of 12 years or less
• Premiums less than 5% of face amount
• Cash surrender value less than 10% of face amount

Those clients who have changing circumstances where their current insurance is no longer needed or relevant and their insurability has changed since the time the policy was issued.

A policy may no longer be suitable due to changes in estate planning needs and a life settlement would be appropriate. In turn, a new, more cost effective policy can be purchased.

Many different situations create the need for a Life Settlement including estate changes, business changes, and under performing policies.

For example:

• The size or liquidity of the insured's estate changes
• Insured retires or sells their business and no longer needs key man insurance
• Insured divorces or outlives beneficiary
• Policies covering a buy-sell agreement will lapse
• Interest rates and mortality charges change since the policy was issued.

There are many reasons for which policies are purchased and are no longer applicable, now there is a solution... LIFE SETTLEMENTS