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Sound investment practices require diligence and regular appraisal and valuation of assets. To date insurance policies were excluded from said valuations, due to the perceived absence of market for them. However, the landscape, opportunity and choices open to seniors, retirees etc. faced with a life settlement issue has changed significantly and people are taking notice.
The premise and principles seem to be simple and back to basics. Simply put, it means that life settlements offer qualifying life insurance policy owners the opportunity to sell policies that are no longer no longer adequately serving purpose or unnecessary, receiving significantly more than cash value for them in return. An interesting statistic from the context of senior life settlement (Conning & Company), states that as much as twenty percent of all insured over the age of 65 own policies with a market value exceeding surrender value.
A Senior Life Settlement may make sense for a variety of reasons:
Premiums may be too expensive
There been a sudden change in your health condition
Your life insurance policy about to lapse shortly
You have significantly more life insurance coverage than you need
You would like to receive substantially more than the policy surrender value
Qualifying Policies Often Include:
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With benefits like these, how could you afford N ..
Joint Survivorship
Whole Life
Universal Life
Variable Life
Group Life
Term Life
A Senior Life Settlement offers consumers the empowerment to make better financial planning decisions. A case example is quoted here to throw light on how senior life settlement could benefit a life insurance policy holder: Consider the case of a seventy-four year old female with a $10 million term policy. The annual premiums in excess of $300,000 no longer fit her financial plan so she planned to let the policy lapse. A financial advisor suggested an appraisal, which yielded two options: a $660,000 life settlement of a $3.5 million Settlement With A Paid-Up Policy (SWAPP). Instead of surrendering the policy for no value, the client chose the paid-up policy, eliminating her premium payments while addressing her estate planning needs.
In a recently published (March 4, 2005), Bernstein Research Call, an industry-accepted market forecasting tool and indicator to professionals in the financial advisor sector, it is stated that the Senior Life Settlement business, an emerging secondary market for life insurance, will grow more than ten-fold to $160 billion over the next several years.
Debt Settlement Companies And How To Find The Right One Debt settlement companies are available to help you reduce the amount of money that you owe to creditors as well as reduce the rate of interest and late charges that you are currently paying on your credit cards. Building credit history is crucial whether you already have debt or are just starting out managing your own finances. When it comes to financing of any kind you want to make sure that you have the best credit rating possible. This is so that when you need credit, such as a loan, that youll be able to qualify for the credit with little difficulty. There are several ways that you can b ..
http://www.life-settlementco.com
About the author:
Jon Thomas has been involved in finance and insurance, specializing in emerging growth markets since 1979. He continues to write articles concerning the public and their pressing financial concerns.
http://www.life-settlementco.com
Jon ThomasSenior Life Settlement-Uses and Applications
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