Simply put, a Life Settlement is the sale of a viable, in-force life insurance policy. The criteria of a viable policy is a Senior policyholder age 70 or above, with or without health concerns that is considering the sale of their policy as apposed to surrendering the policy for it's limited cash value or just letting it lapse.

A Life Settlement may be the perfect choice for your Senior clients who wish to utilize this often under appreciated financial asset which at this time in their lives may be unneeded or unwanted. Not excluding the benefit of relieving the burden of unnecessary costs to maintain an unwanted policy, the proceeds from a Life Settlement transaction can assist your clients to acquire the desired funds for Secondary Market transactions, as well as much needed additional capital to address unexpected monetary expenditures such as College Tuition, Mortgage Interest Rate increases, unforeseen Medical Expenses, etc.

7 Reasons For Selling Life Insurance Policy

1. The policy is no longer needed or wanted

2. Premium payments have become unaffordable

3. To pay for healthcare costs

4. Policy face amount is larger than client's current needs

5. Change in estate planning needs

6. Considering lapse or surrender of the policy

7. Insured has a greater need for a long-term care product than for life insurance death benefit

General Guidelines for Policies to be Sold

Most types of life insurance policies can qualify, however the most common are Universal Life, Whole Life, and convertible Term Life