Case Summary on a 61 year old male

January 7, 2008

SBA was given an opportunity to work with a 61 year old client who had significant health issues.  His policy was in jeopardy of lapsing and his financial planner determined that his life policy was no longer needed.  After an initial offer of $18,000, were able to secure bids from three separate licensed providers, and push the final offer to a total of $49,000 to the client.  He was very pleased with our efforts and our ability to secure the highest possible settlement for him, and proceeded to transact his policy.  Additionally, the financial planner was able to consider to a wider array of options while updating the client’s financial plan.

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Life Settlement licensing requirements vary by state. In some states, life agents and other financial professionals must be licensed to source policies or receive commissions. Settlement Benefits Association is not licensed in all states. Some or all of the proceeds of a Life Settlement may be taxable under federal or state income tax laws. Advice from a professional tax advisor is recommended. This web site is not currently approved in the states of Oklahoma or Texas. This web site does not apply to variable life settlements. Receipt of proceeds may impact eligibility for government benefits and entitlements. Prior to sale, the insured should consider the continued need for coverage, impact to estate plans, availability of insurance, cost of comparable coverage or tax implications.