Life Settlements Are a Way to Expand on Your Legacy and Your Heir’s Inheritance

Author: Troy Kimmel
Source: articleage.com

The cost of life insurance has changed drastically. The coupling of longer life expectancies and lower morbidity tables has resulted in some of the lowest premiums in recent history. It is a fact that seniors are living longer, and insurance costs have been adjusted accordingly. What this means is that many current life insurance polices have become inefficient or outdated when compared to new issues that could be providing larger benefits with less premium. Life settlements are becoming increasing popular as a exit strategy for seniors looking to shift or lapse their coverage.
Life settlements are the transfer of ownership, beneficiary, and all future premium to a third party investor in exchange for a cash settlement. This system provides more that the cash surrender value of whole and universal life policies, but functions no differently than a 1035 exchange. For the seller, the only difference they experience is a much higher dollar amount for ending the coverage. One really exciting prospect with a life settlement is the ability to receive a settlement for a term policy that is going to be lapsed or ended. Term life insurance, normally though of to have no cash value, can be sold for a substantial percentage of the face amount, instead of lapsing the coverage for a total loss.
Most people who are hesitant to look into a life settlement are concerned about the impact on their inheritance. Most people who buy life insurance have other family members or interests in mind while they struggle with the overbearing cost of large life insurance policy. However, the new ease of being reissued a much more manageable policy that will still cover their beneficiaries’ interests, and the possibility of receiving a substantial dollar amount on their current policy to use in enriching their own lives, is why the life settlement industry has doubled in the last three years. Trinity Financial Services can provide more information on how the Life Settlement process works and evaluate on your current insurance situation.
Please contact Troy Kimmel at 1-888-973-8377 or web@trinityfinancialllc.com. Troy is a life settlement broker as well as a licensed insurance agent. He can provide life settlement quotes for both consumers and insurance agents and financial professionals. For more information. Please visit http://www.trinityfinancialllc.com.

Life Settlement: Receive the Highest Payment

Author: Grant Shellhammer
Source: articleage.com

A life settlement also known as a life insurance settlement, senior life settlement, or a senior settlement is quickly becoming a beneficial option for senior citizens across the nation. Life settlements allows senior to cash in their life insurance, but in a new way. Instead of cashing in their policy with the original life insurance company, they can work with a life settlement broker to cash in their policy with a financial institution that will pay more than their insurance company’s surrender value.
Seniors nationwide are quickly learning that surrendering their life insurance policy to their insurance company will not always reward them with the highest payment. Many insurance companies offer a low cash value and some policies don’t have cash value at all. Life Settlement brokers and companies have the ability to do a brief analysis to determine if the settlement will be greater than the cash value. Life Settlements also do not require any obligation, costs, medical exams, or hassles. Seniors can find out the true value of their policy through a Life Settlement and do not have commit to selling the policy.
The life settlement broker will take a basic application and then find out the value of the policy, if the life settlement amount is not what the senior expected or is too low, the senior does not have to move forward. There is no risk involved for the senior. Another key benefit for seniors and financial professionals utilizing a life settlement broker is the financial resources. A broker will use a handful of financial institutions and investors to find the highest payment for the policyholder. Brokers will also use the power of negotiations to the net policyholder a higher payment.
A life settlement can be a wonderful financial planning tool. It is however important to take the correct steps to receiving the highest settlement payout. The process can be completed quickly once the initial analysis has been completed on the policy and the policyholder.
Insurance agents, accountants, and financial professionals can also work with a life settlement broker to assist their clients with the process. A financial professional not offering a settlement option to a policy holder who is going to lapse or surrender their policy is not following their fiduciary duties.
Grant Shellhammer is located in sunny Orlando, FL. He is a licensed insurance agent and affliate Life Settlement Broker with Life Settlement Pro. Grant works with senior citizens and financial professionals nationwide to receive the highest available offers for their life insurance policies.
Contact details:

grant@lifesettlementpro.com

1.888.973.8377

http://www.lifesettlementpro.com