Settlement examples
$1,500,000 Term Life Policy
68-year-old
This client had health issues but could not afford to convert any of the term coverage. Rather than let the policy lapse, the agent suggested applying for a life settlement, which turned out to be great advice.
Offer To Seller- $500,000
$3,500,000 Universal Life Policy
86-year-old
$380,000 cash surrender value
They had planned on surrendering the policy for its it $380,000 cash surrender value. Their agent advised them to look into a life settlement instead!
Offer To Seller $1,000,000
82-year-old
$5,000,000 Universal Life Policy
Cash surrender value: $190,000.
This insured was in decent health. When he originally took out this policy, he wanted to provide financial security for his family. At this time, he and his family no longer needed the insurance, and the premiums were becoming an unwanted burden.
He was considering surrendering the policy for its cash surrender value. The cash surrender value was $190,000. His broker arranged a life settlement instead of surrendering the policy for its CSV.
Offer To The Seller- $1,000,000
$525,000 Lincoln Life – Universal Life Insurance Policy
This 74 year old man was in relatively good health when he applied for a Life Insurance Settlement. He could no longer afford his coverage and used whatever cash he had in the policy to keep the policy enforced. He was simply going to let his policy lapse and receive absolutely no payout from the life insurance carrier. His agent arranged a Life Insurance Settlement who was able to negotiate a life settlement of $45,000.
$2,000,000 Prudential – Convertible Term Insurance Policy
This 59 year old woman had a convertible term policy and was battling lung cancer. She made the financial decision that converting her policy and paying higher premiums was not what she wanted to do at this stage in her life. She needed money to pay for quality healthcare and to be able to have the opportunity to enjoy her limited time with her beloved family.The agent was able to get their client a life settlement of $1,390,000
$2,000,000 Pacific Life – Survivorship Policy
This 88 year old male and 87 year old female could no longer afford insurance coverage that was no longer needed. Their plan was to surrender the policy for a small cash amount. Life Insurance Settlements Inc. was able to secure them a life settlement 3 times more than their surrender amount. The broker was able to get their clients a life settlement of $240,000.
$2,000,000 Voya – Universal Life Insurance Policy
This 75-year-old male had tried to sell his policy to two other settlement brokers, without success. After doing a little more research, his was able obtain an acceptable offer for his policy, completing the transaction before he had to pay any more premiums. The broker was able to get him a life settlement of $238,543.
76-year-old female
$250,000 Universal Life Policy
The cash surrender value was $3,600.
The broker was able to obtain for this client a $73,000 offer for her policy .
She planned on surrendering it for the $3,600 cash surrender value!
Case example:
69-year-old male
$300,000 Term Policy
This client was relatively healthy.
The broker was able to obtain $18,000 for his policy. Keep in mind that he was going to let this policy lapse for $0.00!
Case Example:
63-year-old male
$300,000-term policy
This client had severe health issues.
The broker was able to obtain $130,000 for his policy.