Consumers have long viewed life insurance as nothing more than a means to provide protection for surviving family members, to pay estate taxes, to fund buy/sell agreements and to meet business or other financial obligations. However, an in-force life insurance policy can be extremely valuable to the policy owner while the insured is still alive. Under the right circumstances, a life insurance policy can be sold as a life settlement.
Life settlements provide an opportunity to financial and insurance professionals and their clients. The majority of life settlement transactions are entered into for the purpose of purchasing other financial and insurance products. Proceeds are unrestricted and can be used toward a wide range of financial and estate planning objectives for your client.
Which of your clients might qualify for a Life Settlement transaction?
- Is the client over age 75?
- Could the client benefit from other financial products?
- Does the client have a desire to cancel their policy?
- Will the client benefit from reducing or eliminating premium payments?
- Does the client need more coverage? Less Coverage?
- Has the client had changes in health status?
If you answered “YES” to any of these questions, your client may be eligible for and may profit from a life settlement transaction.
Benefits for Financial and Insurance Professionals
- Proceeds can be used to sell additional life insurance policies and financial products
- Receive referral fees from the life settlement transaction
- Offer a new service to your clients
- Policy remains in-force: Continue residuals and reduce lapse rates
Benefits for the Client
- Receive a considerable sum of cash above the policy's cash surrender value
- Create more comfortable retirement years
- Fund new financial products including annuities, life insurance, long-term care or investments
- Settle personal debts proactively
- Access income from a dormant asset
- Provide cash gifts to family members
- Provide funds for charitable giving
For more information regarding Whitestone Settlements, LLC, Life Settlements or a specific Life Settlement case, please email or contact us at (800) 798-9789.