What is a Life Settlement?

What is a Life Settlement?

“The emergence of the secondary market for life insurance policies has been pro-competitive and pro-consumer.”
– The Wharton School and Criterion Economics, LLC

Many people are unaware that you can turn an about-to-lapse, unsuitable, or unwanted insurance policy into a cash asset. Life insurance is personal property and the owner has the right to sell it.

A Life Settlement is the sale of a life insurance policy to a third party. The policy sells for a percentage of its net death benefit, which is always greater than the issuing insurance company will pay for the surrender of the policy. Factors such as age, expected life expectancy, and policy characteristics such as premium costs determine the amount.

Whenever senior policy owners are considering surrendering a life insurance policy for any reason, they should explore the life settlement option with their financial advisors. It may be a more lucrative alternative to allowing the policy to lapse or surrendering it. The policy appraisal process is risk free, private, and does not require any medical examinations.

Life Settlements can best satisfy current financial needs because it provides the unique opportunity to receive the “true market-value” for an existing life insurance policy. Seniors can use the cash settlement for anything they need or desire with no restrictions.

CONTACT VERIS SETTLEMENT PARTNERS

Veris Settlement Partners, Inc. is a multi-state viatical and life settlement broker. Veris Settlement Partners, Inc., and/or its affiliate firms Chesapeake Financial Settlements, LLC and Select Life Settlements Corporation, and/or one of its two directors as individuals, may be licensed as a life settlement broker or viatical settlement broker, or may be able to broker a life insurance policy owned by a resident of most states. For a list of states and licensing call Veris. Some or all of the proceeds from a life settlement may be taxable under federal or state income tax laws. Advice from a professional tax advisor is recommended. Veris Settlement Partners, inc. is not a viatical or life settlement provider. This Compliance Notice is current as of August 15, 2008 and is subject to change.