Life Insurance Settlements

Life Insurance Settlements, Inc. stands as a preeminent life settlements broker firm, having assisted thousands of clients in successfully selling their life insurance policies for profitable cash settlements. Our firm enables policyholders to unlock and monetize the value of their policies, offering them the opportunity to plan for their family's future, pay off debts, and enjoy a comfortable retirement. With over 30 years of experience, we have cultivated a sterling reputation within the industry, and maintain partnerships with numerous funding entities, several of which are exclusive to Life Insurance Settlements, Inc. Our commitment is to handle the entire life settlement process, minimizing the time and paperwork for financial professionals or serving as a trusted partner to effectively manage the transaction for their clients.

What is a Life Settlement?

A life settlement allows a policyholder to sell their life insurance policy to a third-party for cash, prior to the maturity date. This transaction holds similarities with the sale of private property. The concept of selling life insurance policies can be traced back to a 1911 court case, which made it possible for policyholders to transfer their policies to life settlement companies. This allowed them to benefit from the proceeds while still alive. In the 1980s, the viatical settlements market emerged, focusing on the purchase of life insurance policies for terminally ill patients who needed immediate financial assistance.

Why Sell Your Life Insurance Policy?

There are numerous reasons for policyholders to sell their life insurance policies. These may include:

1. The need for immediate financial resources to cover medical expenses or other large expenditures

2. The desire to use the funds to enjoy retirement or fulfill personal goals

3. The inability to continue paying the policy's premiums

4. The realization that the policy no longer aligns with personal, financial, or estate planning objectives

How Does It Work?

When selling a life insurance policy, the process is akin to selling a home. The policyholder initiates the sale and receives cash for the policy. Life settlement transactions must be transparent and fair, providing the policyholder with a comprehensive understanding of their options and the potential outcomes. Financed primarily by institutional investors, life settlements offer an alternative means for policyholders to convert their life insurance policies into cash, as opposed to surrendering the policy back to the insurance company or allowing it to lapse. By choosing a life settlement, policyholders can often secure a more significant cash payout than if they were to surrender or lapse the policy. Additionally, life settlements provide a valuable option for seniors seeking to optimize their retirement income and address financial needs.

Do I Qualify for a Life Settlement?

To qualify for a life settlement, there are certain criteria to meet:

1. The policyholder must be at least 65 years old, or if terminally or chronically ill, the age requirement may be lower.

2. The policy must have a face value of at least $100,000.

3. The policyholder must be able to demonstrate a change in health status since the policy was initially purchased.

If a policyholder meets these basic qualifications, a life settlement broker will assist the policyholder in obtaining a formal life settlement offer from a buyer. This offer typically considers factors such as the policyowner's age, life expectancy, the policy's face value, and the premium payment history.

Why Choose Our Trusted Life Settlement Company?

Life Insurance Settlements, Inc. has earned an impeccable reputation within the industry for its over 30 years of experience. Our seasoned management team understands the complexity of life settlements and is well-equipped to navigate the nuances of these transactions. As a trusted advisor, we have collectively facilitated approximately 24,000 life insurance policy settlement cases throughout our careers and have garnered respect and reliability within the life insurance settlement industry.