Life Settlement Case Summary

April 23, 2008

A 65 year old male in relatively good health presented a combined $1.3M in total insurance through his Certified Financial Planner.  The coverage was no longer needed since his wife had recently passed away.  The insured, who was also the policy owner, wanted a way to fund his grandchildren’s college fund despite his limited liquidity. 

As a professional brokerage, Settlement Benefits Association shopped each policy individually to literally dozens of licensed Life Settlement providers.  Given the different face values of each policy, we ended up with bids from 8 different providers.  We created a scenario with the highest bids for each policy and combined the paperwork from 2 different providers to best suit his needs.

Working with the agent, we presented a final offer to the client of over $238k.  He gladly accepted this Life Settlement and has purchased the college savings product he desired as well as an annuity for himself.

Posted by admin | Filed Under Case Summaries, Resources 

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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.