Examples of Life Settlements
John's client was an 82 year old male living by himself and was beginning to have issues supporting himself day to day. In reviewing his $250,000 Universal Life policy John confirmed his policy was no longer needed and could be old as a Life Settlement. After completing the Life Settlement John's client used the money to pay for In-Home Long-Term Care support, allowing him to maintain his independence and remain in his home.
Bob received a call from his 74 years old client requesting to terminate his and $1,500,000 Convertible Term policy that was expiring. As a responsible advisor Bob discussed the alternative option of Converting and Selling his policy. Bob's client went from surrendering his policy for no value to selling his policy for the highest market value.
Greg, an seasoned Estate Planner had a 78 year old couple whose children had grown and were financially independent. While his clients had some health issues they were both still full of passion wanted to travel the country while they still could. In reviewing the latest Estate Planning laws Greg determined they could instead sell their $2,000,000 Joint Survivor Life policy and use the funds to travel the country in their RV.
*The above are based on real stories but have been fictionalized for illustrative purposes. IMS's client information is always kept strictly confidential.
"IMS worked hard to help educate us about the process and the suitability of a life settlement. Once we got the process started he was transparent and professional."
- Maggie M.
Does my client's Life Insurance Policy qualify?
Most types of Life Insurance policies can qualify for Life Settlement. Typical qualifying provisions include the following:
Does My Client's Life Insurance Policy Qualify?
Most types of Life Insurance policies can actually qualify for Life Settlement. Typical qualifying provisions include the following:
Type of Policy
Indexed Universal Life
Non Convertible Term
Joint Survivorship Policies
*Check with IMS if your policy type is not listed.
Ages 65 and Older
(some younger ages can qualify)
Generally the older the Insured the larger the value of the Life Settlement
$100,000 - 100,000,000+
The larger the policy the larger potential value of the Life Settlement.
A moderate or major change in the Insured's health since policy issue.
A more significant change in health since policy Issue creates more value in a Life Settlement.
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The sale of a Life Insurance policy has become an increasingly popular way for retirees to get a fair market price for their Life Insurance policy that is much greater than the cash surrender value available from the policy issuer. A Life Settlement can be done for various reasons, such as the inability to afford premiums, changes in tax law or high medical costs associated with a terminal illness (such settlements are known as Viatical Settlements). IMS Settlements is a leading Life Settlement Broker that can help you obtain the highest price for your Life Insurance Policy.
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