Defining a Life Settlement
A Life Settlement is the sale of an existing life insurance policy to a financial institution in exchange for a lump-sum cash payment which is typically significantly higher than the cash surrender value.
| Do You Qualify? |
Policies that Qualify: |
- Age 65 or Older
- Own Life insurance with
Minimum Face Value of $250,000
- No Longer Need or Want
The insurance and/or Desire
Cash Now
|
- Term Life
- Universal Life
- Whole Life
- Variable Life
- Key-Man Policies
- Group Life
- Joint Survivorships
- Most others will qualify as well
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