Many seniors are looking to sell their life insurance policies that they no longer need or want. In some cases policies are no longer affordable and policy owners would prefer to have cash now for their policies. How does one know if their policy is a saleable asset? Below are a few current parameters in which one’s policy should fall to attract today’s buyers. There is no guarantee that one’s policy will be sold.
• Age 65 and older – this is a function not only of age, but one’s estimated life expectancy. Life expectancy is estimated by reviewing the insured’s medical records.
• Life expectancy of 15 years and less – most buyers today are looking for policy owners with life expectancies of 10 years or less, but there are some exceptions.
• Policies written by life insurance companies with good ratings – typically B+ rating an better
• Reasonable life insurance premium relative to the death benefit – this is typically 5% annually of death benefit or less.
• Face amounts between $50,000 and $40,000,000
In some cases buyers will consider policies that have been premium financed. When considering a sale of your life insurance policy you should consult with your financial advisor to make sure a sale is right for you. Then call a professional life settlement broker to handle your senior settlement.
Does your life insurance policy qualify for a sale? Ask a qualified professional at Settlements For Life today!
Settlements For Life
Enhancing The Value Of Your Life
www.settlementsforlife.com
info@settlementsforlife.com
877-588-5558
Professional Broker Since 2003
Licensed in Most States
Sell your life insurance policy for more than the cash surrender value. Enhance The Value Of Your Life! A life settlement, viatical settlement or senior settlement could get you cash now for the life insurance policy you no longer need or want. Subscribe to this blog by clicking the Bloglines link.
