Life Settlement helps relieve financial burden

July 15, 2008

Recently, a 74 year old male in good health approached his financial planner with a problem.  One of his children was in need of some financial assistance to cover some extraordinary medical costs.  Since the planner had previously completed some Life Settlement cases with Settlement Benefits Association, he presented the idea of selling the client’s $600,000 policy.  He explained how the cash generated from the sale could be used in any manner.

After underwriting the case, we were able to secure 6 offers from licensed providers.  The highest offer, $192,000 would be enough cash to accomplish the client’s goal, so we completed the transaction.

Posted by admin | Filed Under Case Summaries, Resources 

Proud Member of the National Ethics BureauCelebrating 5 Years of Life Settlement Service

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.