A life settlemnt is the sale of a life insurance policy to a third party for an amount greater than the cash surrender value. Typically, the sale involves an insured age 65 or older with a policy that is no longer needed, wanted or affordable, to an investment company that provides the owner of the policy with a lump sum cash settlement. This secondary market for life insurance contracts provides an alternative to accepting the issuing insurance company's surrender value for the policy.

1. The sale of a business or illiquid as$et
2. Business owner retiring or exiting the business
3. A decline in estate value and/or decrease in estate tax liability
4. Term policies or riders that are about to expire, lose their conversion privilege or come to the end of their current premium guarantee
5. Retirement
6. The policy is no longer affordable due to policy performance ·
7. Chronic illness

*Create a charitable giving opportunity
*Save for Retirement
*Help fund long term care
*Fund Investments
*Create capital for business opportunities
*Pay for medical care
*Provide for educational funds
*Lower debt
*ANYTHING - the proceeds are unrestricted

*Universal Life
*Term
*Second-to-die
*First-to-die
*Whole Life
*Group, if convertible

After all alternatives have been considered and the conclusion is that it is time to lapse or surrender a policy, a life settlement can offer significantly greater value

Yes, absolutely. Life settlements are regulated financial transactions and completely legal in most U.S. states.

The full process typically takes 3 to 6 weeks, depending on how quickly your insurance provider releases the required information.