Case Summary on a 71 year old male

October 22, 2007

This client approached us about conducting a policy evaluation on his $200,000 universal life policy.  With his premiums of a little over $12,000 annually and no surrender value left in the policy, he no longer wanted to maintain the coverage.  Although it is more difficult to gather bids on smaller face values, we were able to get 4 competitive bids on this case.  The client accepted the bid of $54,000.

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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.