1.  What is a life settlement?
A life settlement is the sale of an insurance policy to another for a lump sum that can be significantly greater than the policy's cash surrender value. The purchaser assumes payment of the commissions and becomes the policy's beneficiary.

2.  What types of policies can be purchased? Universal Life. Whole Life, Variable Universal Life, Term, and Convertible Term policies from US-based carriers rated 'A' or higher from S&P or 'A1' from Moody's. Second to die policies are eligible as well. All policies must be beyond the contestability stage.

3.  Who is eligible for a life settlement? QThe ideal candidate is a policy holder over the age of 72 whose health has changed since the policy was in effect and whose policy has a face value of greater than $250,000. The life settlement payment will be greater for an older person.

4.  When is selling a policy appropriate? There are a vast number of financial and estate planning reasons. The individual or business need for the underlying insurance may have changed. Maintenance of premium payments may have become burdensome. The insured's need for increased income and/or money for payment of medical or living expenses are factors. Life settlement is an option that should always be considered before simply surrendering a policy for its cash surrender value or letting the policy lapse.

5.  What factors determine the amount of the life settlement payment? Our underwriters look at the insured's age, health and future premiums required. They also review the type of policy, the insurance company rating, the face value, as well as outstanding loans and cash values.

6.  Does the entire policy need to be sold? No. Any portion of a policy can be sold with the remaining death benefit kept in the name of the original beneficiary.

7.  What is the process, and how do I get started? If you have a client, relative or friend who may benefit from a life settlement, call us. We will send you an Inquiry form to be filled out and returned to us. A third party underwriter will do a case evaluation at no cost to the insured. The Inquiry form will authorize a release of medical records, all of which is kept strictly confidential. From there, we will prepare and forward to you a proposal. It's that simple.