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What is a life
insurance settlement?
As people age, their financial responsibilities change. Many people are becoming more concerned with the immediate financial needs associated with their own retirement or long-term care – in fact, 90% of all life insurance policies are allowed to lapse and never paid out.
Life insurance settlements provide another option.
Life settlements (sometimes referred to as secondary life settlements) allow a policy owner to sell their existing policy to a financial institution in exchange for an immediate lump sum cash settlement. Oftentimes, a life settlement allows the policy owner to recover all paid premiums, rather than surrendering that investment and allowing the policy to lapse.
| A wide variety of policies are eligible, including: |
| universal life |
| term |
| whole life |
| survivorship |
| key-man |
Please Note: Trusted Life does not make any representations as to the tax treatment of a sale of a life insurance policy. Trusted Life strongly encourages you to consult with a tax advisor, attorney or financial planner as it relates to your specific situation.
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| Determine if a life
insurance settlement is right for you. Click here to find out more. |
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