Senior Settlements and Life Settlements

The term life settlement is synonymous to the terms senior settlement, lifetime settlement, and high net worth transaction.  These types of settlements are highly rewarding to seniors who do not want their life insurance policy or cannot pay for it any longer.  These policy owners can then liquidate a policy for more money than what they would get if they surrendered the policy and got the cash value, but less money than its net death benefit. Life settlements are a lucrative option for seniors when they are planning the finances of their estate because monthly premiums no longer have to be paid, income is gained to enjoy retirement, and funding is retrieved from a non-performing asset to be used in other investments.

A life settlement is a type of life insurance settlement. All life insurance settlements allow policies to be liquidated for some cash value. The difference between life settlements and viatical settlements, which is another type of life insurance settlement, is relatively narrow. Life settlements allow seniors over the age of 65 to cash in on their life insurance policy if they no longer want it. A viatical settlement differs in that it is only offered to terminally ill patients to reduce some of the financial problems that come with having a terminal illness, such as high medical costs, lack of income, and living expenses.

Not every life insurance policy of a senior over the age of 65 will be bought by a company. Some policies are less desirable than others. This has to do with the face amount of the policy, the premium amount, the general health condition of the senior insured, and the type of policy that is trying to be sold.  Contact us to get the best quote on your life insurance policy.

Life settlements have become a popular option for senior citizens. The life settlement industry has recently exploded, sending the life insurance industry in the wrong direction. Consumers now have their choice and can find the most profitable way of selling the life insurance policies that insurance companies used to dominate. The industry suddenly has an entirely new competitive market for life insurance policies.