A life settlement is an investment in your future that puts money in your hands today. There are no restrictions on how you spend your life settlement. A life settlement is not a viatical. Viaticals are purchases of policies of the terminally ill with a life expectancy of two years or less.
A life settlement is the sale of an existing life insurance policy to a life settlement provider. Life settlements are an option for policyholders who determine that their current policy is underperforming or is no longer needed due to changes in the owner’s financial or other circumstances. A life settlement is NOT the same as a viatical settlement. In a viatical settlement the insured is ill and has a terminal diagnosis.
Life Settlements are senior life insurance policies that have been sold by the insured parties for cash, often to pay medical expenses or living expenses. Private investors and institutions have been investing in life settlements for about 10 years.
A Life Settlement is a process wherein an insured person agrees to sell his or her unwanted insurance policy to another party for a cash lump sum, instead of returning it to the company where he acquired it. After making the payment, the purchasing party becomes the beneficiary of the policy. A life settlement is the sale of a life insurance policy by a senior for an amount greater than the cash surrender value. The proceeds are often used to purchase other financial products.
Life settlements are discounted cash settlements paid by investors to life insurance policyholders. In exchange, investors later receive the full amount of the life insurance policy upon the passing of the insured; a win-win transaction.
life settlement is simply the sale of an existing life insurance policy by a terminally ill or elderly person to another party. The price of the policy is negotiated and sold by the owner at a discount to the face amount.
Life settlements are usually defined as someone selling either a portion or their whole life insurance policy to someone for a lump sum of money. Life settlements are usually considered by people who no long have money for the monthly payments or those who need the money for other current expenses.
Life Settlements are increasingly being used by Senior Citizens to fund retirement, pay for long-term care, or just pay rising living expenses.
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