Life Settlement Case Summary

A 75 year old male with a $200,000 term policy past its conversion period came to Settlement Benefits Association for a Life Settlement appraisal.  The client’s premiums were going to triple in three years and he needed to sell the policy.

Settlement Benefits was able to shop the entire institutional marketplace and find a provider willing to purchase the policy for $43,000.  The client used the proceeds to pay his existing universal life policy, eliminating premiums for the next few years.

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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.