Life Settlements
- Life Insurance:
- Policy must be at least 2 years old -
only non-contestable life insurance policies are considered.
- Life Insurance Carrier must be rated
B+ or better.
- Minimum face value of $100,000 - NO
Maximum. Lower face values considered if insured has shortened life
expectancy.
- All types of policies qualify,
including term, whole life, universal life, joint-survivorship, group,
corporate-owned policies (COLI), key-man, and life policies held in
irrevocable life insurance trusts.
- Policy Owner may be the insured, a
company, a family member, a charity or any other entity with an
insurable interest in the life of the insured.
- Yearly premiums should generally be
under 5% of the policy's face value.
- Insured's Health Status:
- Seniors with limited
life expectancies of under 12 years may qualify.
- There must be a change in health or in
table rating since the policy was issued.
- The general target age is 75 and
above.
- Please do not believe some
ill-informed agents or brokers, healthy seniors do not qualify.
Some type of health issues that limit the insured's life expectancy
must be present.
- Copies of medical records are obtained
for verification of health status.
- NO MEDICAL EXAMS ARE REQUIRED!
Detailed Explanation
of Health Guidelines:
Health qualifications for
a life settlement are based upon the insured's life expectancy
estimates. Life expectancy is determined by independent reviews of the
insured's medical records by third party medical underwriters. The
underwriters provide individual life expectancy opinions based upon
statistical data combined with the insured's medical history. These
estimations can vary significantly due to differing opinions on
treatments, prognosis and future medical advances. Due to these
factors, variances in offers made by Life Settlement Funders is very
common.
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