A Life Insurance Settlement is the sale of a life insurance policy for a third party in exchange for a cash settlement over the policy& 39;s cash surrender value-although not exist! This is also called as a solution Life Insurance, insurance settlement or settlement Superior. This innovative wealth planning tool and eliminates the costly burden of payments of insurance premiums, in addition to providing the lump sum cash settlement. To get the maximum life settlements is to improve the quality of life during their retirement years.
Hitherto, elderly Americans with life insurance policies that do not need or can not afford to keep up have had little choice. Will be allowed to sell policies to stop or back to their insurers. Now many are happy to have an alternative buyer. Customers can now be able to sell his policy much more than the cash surrender value in the insurance company is offer.
Clients often wonder whether there are any restrictions on what the cash can be used for. The answer is that there is no restriction whatsoever on what the cash can be used for. They can use the money to buy new insurance, travel the world, start a business, buy property or fulfill their dreams. The money is theirs just to enjoy and use for whatever reason you can think of. In fact, older people can use the cash settlement for medical expenses, living expenses, or anything you desire-restrictions.
How without much money to customers when they go to obtain clearance from life insurance?
The value of a life insurance policy is determined by a number of factors. Typically, a settlement of life is about three to five times the cash surrender value of the policy.
What life insurance policies qualify insurance agreement?
1. Must be at least 65 years of age
2. The nominal value of the policy is at least $ 50000
3. The insured has experienced a deterioration in health since the insurance policy was issued; life expectancy is under 15 years years
4. The policy is in force beyond the two-year contestable period
What types of policies are bought?
Any policy owner, including individuals, corporations, trusts or charitable, may sell any life insurance policy, including time and group life insurance policies.
The solution value could be potentially much higher than the cash settlement of his life insurance policy. Do not continue to pay expensive premiums for coverage is no longer necessary, and not surrender the policy nor the lapse.
The life insurance or settlement Senior settlement solution is typically the Win-Win scenario that you& 39;ve been looking for.
About Author:
Paul Sherman is a Cash Flow Consultant. It offers free, professional and independent advice to individuals, business owners and seniors in connection with life settlements, settlements and structured finance demand. To sell its life insurance and structured settlement please visit http://www.Financial-ease.com
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