What is a : Life Settlements- Life Settlement- Senior Settlement

What is a : Life Settlements- Life Settlement- Senior

Settlement

“Get Cash Now For Your Unneeded Life Insurance Policy”

Life Settlements help life insurance policy owners and their loved once the opportunity to sell their policies in exchange for a large cash payment, that is larger than the cash surrender value, if any, offered by the life insurance company. The majority life insurance policies are obtained to care for loved ones and to protect them from the uncertainty in life. The majority of these policies are never needed and results with no claim (88%). Once the policies have provided their valuable purpose, the owner either allows them to lapse or give up the policies to the insurance company for cash surrender value. The current growth of the Secondary Life Insurance Market provides the policy owner and insured, a chance to walk away with a large amount of money.

Life Settlement - Life Settlements – Senior Settlement

“Get Cash Now For Your Unneeded Life Insurance Policy”

“Unlock the hidden value of your term or permanent life insurance”

What is a Life Settlement?

A life settlement is the sale of a life insurance policy for a large cash payment that is better than the policy’s cash surrender value,

A life settlement is defined as a financial transaction in which a policy owner holds an unwanted or not needed life insurance policy and sells the policy to a funder who represents a bank or large institutions.

The purchaser becomes the new owner and beneficiary of the policy and is responsible for all following premium payments.

Life Settlement Qualification

· 70 years of age or older ( Male and Female )

· Minimum face value of $500,000 (No Maximum)

· Policy is more than 2 years old

· Premium on the policy are less than 5% of the policy face value

· Cash surrender (if any) is less than 15% of the policy face value

· Types of policies : Universal Life , Whole Life , Term ( Only if convertible )

· Life expectancy greater than 2 years but less than 15 years

The process

Application - Insured and policy owner sign an application giving Arbel Life, LLC the right to gather medical information in order to determine eligibility and pricing for the settlement.

Evaluation -All material and evaluations gathered by Arbel Life, LLC are submitted to all licensed and regulated providers in order to get the best offer on the policy

Negotiation - Arbel Life, LLC will negotiate the offers with the providers and the client for fast and best results.

Contract – once agreed on a purchased price for the policy a contract will be formed by the buyer. Arbel Life, LLC will make sure everything is being done correctly and all funds are being secure and ownership on the policy is being transferred and client is being paid.

Reasons for selling the policy

Children are all grown up and doing well

Need cash for retirement

Eligible for better performing product

Need funds for Investment

Premium on policy become to be very expensive

Change in your estate structure and worth

Divorce or outlive the beneficiaries

Need large amount of cash and do not want to liquidate assets and savings

Want to give large amount of money for charity while alive

Help beneficiaries before passing away.

A company key person insurance policy is no longer needed

The life insurance coverage is related to an obsolete buy/sell agreement

Case studies

Female: 79
Policy Type: Universal Life
Face Amount: $750,000
Cash Value: $107,000
Life Settlement cash paid to customer: $150,000

Male: 70
Policy Type: Convertible Term Life
Face Amount: $500,000
Cash Value: $0
Life Settlement cash paid to customer: $95,000

Male: 86
Policy Type: Universal Life
Face Amount: $1,000,000
Cash Value: $155,000
Life Settlement cash paid to customer: $450,000

Boaz Arbel is the General Manager at Arbel Life, LLC, a New York based company that specializes in the high net worth senior market. To obtain further information about Life insurance Premium Finance, Life Settlement and to read additional articles about these subjects please visit the website: http://www.arbellife.com/

You may also read all publications at http://1800pf.blogspot.com/