A Life Insurance Settlement is the sale of a life insurance policy to a third party in return for a cash settlement, beyond the politics of redemption in cash, even if none exists! This is also known as Life Insurance settlement, the insurance settlement or senior settlement. This innovative wealth and estate planning tool removes the burden of expensive insurance premium payments in addition to providing the lump sum settlement in cash. For the most life settlements is to improve the quality of life during their retirement years.
Hitherto, elderly Americans with life insurance policies, do not have or can not afford to maintain itself had little option. They will let the policies lapse or sell them back to their insurers. Now many of them are happy to have an alternative buyer. Customers can now be able to sell their policy for much more than the money of ransom would offer.
Clients insurance carrier will often ask if there are any restrictions on what the money can be used for payment. The answer is that there are no restrictions on what the money can be used for payment. They can use the money to purchase new insurance, travel the world, start a business, buy a property or to fulfill their dreams. Money is simply to enjoy them and use it for any reason they can think of. Indeed, the elderly can use the money for medical expenses of liquidation, living expenses, or anything like that-without restrictions.
How much money customers will receive when they go for Life insurance settlement?
The value of a life insurance policy is determined by a number of factors. Typically, a life settlement is about three to five times the amount of money render policy.
What Life Insurance Insurance Policies Qualify for liquidation?
1. Must be at least 65 years of age
2. The nominal value of the policy is at least $ 50000
3. The insured has suffered deteriorating health since the policy was issued; longer life expectancy of 15 years
4. The insurance policy is, in fact, beyond the two years challenged period
What types of policies are purchased?
Any policy owner, including individuals, businesses, charities or trusts, can sell any policy of life insurance, including group and term life insurance policies.
The liquidation value could be potentially much greater than its liquidation in cash, insurance, political life. There continue to pay premiums for coverage you no longer need, and does not render the policy or let it lapse.
The Life insurance settlement or settlement Senior solution is usually the Win-Win scenario that has seen for.
About The Author:
Paul Sherman is a Cash Flow Consultant. He offers free advice from professional and independent persons, companies and elderly owners as Life Settlements, structured finance and Establishments process. To sell its Life Insurance & Structured Settlement visit http://www.Financial-ease.com chiquita lacy
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