What is a Life Settlement?

What is a Life Settlement?

When a person no longer needs their life insurance policy, they may be eligible to sell it to a third party for more than surrendering it to the insurance carrier.  This sale is called a life settlement.   

In a life settlement transaction, the policy's owner transfers the policy to the buyer in exchange for an immediate cash payment.  At this point the buyer becomes the named owner of record with the insurance company that issued the life insurance policy, pays all future premium payments and then receives the benefit upon the death of the insured person.

Before the emergence of the life settlement market, policy owners had few options if they didn't want or need their policy.  Traditional options included letting it lapse, surrendering the policy, or requesting a 1035 exchange.  These options may still be a good fit.  Now, the life settlement market has become an additional attractive option to generate more cash to be used while living. 

Contact us today for a free policy evaluation.  In most cases, we will be able to tell you within 3 minutes if your policy qualifies.

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HEADQUARTERS:

650 S. Westlake Blvd. #202

Westlake Village, Ca 91362

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Tel: 800-674-9918

Fax: 800-674-9918 (same #)

Ben@StockLifeSettlements.com

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