A Life settlement is the sale of your life insurance for substantially more than the current cash value, or surrender value that the insurance company would pay, if you were to essentially sell your policy back to the insurance company. It is estimated that that senior citizens surrender or allow to lapse, more than $100 billion of life insurance each year. Often, life insurance secured earlier in life, may no longer be needed, or be facing increased premiums to continue to keep said policy in force – and this is where we can help.
Recent Life Settlements Successes
63 year old male with a 20 year term life policy for $500,000 without any cash surrender value sold for $235,000
71 year old male with a $3,000,000 universal life policy purchased in 2002 with $450,000 of cash surrender value, expected to lapse in nine years, with annual premiums of $54,000 restructured to a reduced death benefit of $1,700,000 eliminating all future premiums, and guaranteeing the policy to age 120.
75 year old male with a $1,000,000 universal life policy with $21,296 of cash surrender value, this policy originally had been purchased in 2013 based upon ongoing premiums of $26,515 and was going to lapse within the year, unless premiums were increased to $56,569 annually sold for $425,000.
86 year old male with a $10,000,000 universal life second to die type policy, insuring both himself and his wife, who had passed away, which was purchased in 2003 based upon a onetime single premium of $1,450,000. The policy was to be paid up in full at purchase; however, due to his longevity, the policy was going to lapse upon him turning 87. The policy had $750,000 of cash surrender value, and would require additional annual premiums of $985,000 to be paid each year to keep the policy in force sold for $2,660,000.
88 year old male with a $500,000 universal life policy which was purchased in 2012 based upon a single premium of $129,911. The policy was to be paid up in full at purchase; however, due to his longevity, the policy was going lapse within the year. The policy had $22,440 of cash surrender value and would require additional annual premiums of $38,526 to be paid each year to keep the policy in force sold for $80,000.
We invite you to call us to learn more about the life settlement process, which often results payouts that are upwards of four to five times the cash surrender value for your policy - or to discuss restructuring a policy.
Recent Life Settlements Successes
63 year old male with a 20 year term life policy for $500,000 without any cash surrender value sold for $235,000
71 year old male with a $3,000,000 universal life policy purchased in 2002 with $450,000 of cash surrender value, expected to lapse in nine years, with annual premiums of $54,000 restructured to a reduced death benefit of $1,700,000 eliminating all future premiums, and guaranteeing the policy to age 120.
75 year old male with a $1,000,000 universal life policy with $21,296 of cash surrender value, this policy originally had been purchased in 2013 based upon ongoing premiums of $26,515 and was going to lapse within the year, unless premiums were increased to $56,569 annually sold for $425,000.
86 year old male with a $10,000,000 universal life second to die type policy, insuring both himself and his wife, who had passed away, which was purchased in 2003 based upon a onetime single premium of $1,450,000. The policy was to be paid up in full at purchase; however, due to his longevity, the policy was going to lapse upon him turning 87. The policy had $750,000 of cash surrender value, and would require additional annual premiums of $985,000 to be paid each year to keep the policy in force sold for $2,660,000.
88 year old male with a $500,000 universal life policy which was purchased in 2012 based upon a single premium of $129,911. The policy was to be paid up in full at purchase; however, due to his longevity, the policy was going lapse within the year. The policy had $22,440 of cash surrender value and would require additional annual premiums of $38,526 to be paid each year to keep the policy in force sold for $80,000.
We invite you to call us to learn more about the life settlement process, which often results payouts that are upwards of four to five times the cash surrender value for your policy - or to discuss restructuring a policy.