Posted by The Policy Settlement Alliance on Thu, Aug 12, 2010 @ 07:01 AM
By Timothy A McQueen
Life settlement agreements consist of the sale and purchase of a life insurance policy. You may want to consider life settlement agreements if you are a senior and no longer want or need your life insurance policy.
When selling your life insurance policy you are looking for a cash sum which is less than the death benefit, but more than the cash surrender value. You may be looking to sell your life insurance policy that carries a high premium in order to purchase a new better performing policy with lower premiums. You may also sell your life insurance policy if you have had a personal or financial life change that makes your life insurance policy no longer necessary.
The purchasers of life settlement agreements are making an investment in your policy. When purchased, the investor takes over the annual premium payments and will be paid the death benefit once the insured has passed away.
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Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.
Posted by Alice Hood on Mon, Jul 05, 2010 @ 11:01 AM
ByStephen A. Bailey
Life Settlement Agreements must be spelled out so the insured knows what to expect and what can and cannot be done. You as an insured have determined that the large life insurance policy that you bought several years ago, is no long affordable, or needed, and you need to surrender it, lapse it, or sell it since that way you will get more than surrendering or lapsing.
Life Settlement agreements, although there is standard language inserted and the expectancy of 10% to 15% of death benefit is about standard also, each agreement is going to vary somewhat due to extended and extenuating circumstances for each individual. The advisor and agency are entitled to make a percentage of the sale, to cover their work of negotiating a sale and making sure the sale is proper and legal all the way around. You the insured will make more or less on the policy due to your health and life expectancy. If your policy was "preferred" when you took it out and you are "substandard" now, you can expect more money from the sale.
The end result is you need to agree to the interest rate range of the sale, What the agent and agency get needs to be spelled out and what you get needs to be spelled out and the time allowed to complete the life settlement agreements is going to be flexible, because the agents cannot sell your policy without finding a buyer and so on. The agency wants to complete a sale just as much as you do.....they will work on your behalf, within the perimeter of the life settlement agreements. For more information go to LIVEpdq.
Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.
Posted by Alice Hood on Tue, Jun 29, 2010 @ 01:06 PM
By John W Thompson
Life settlement agreements are agreements between investors and life insurance policy owners to transfer ownership of the policy to the funder.
Many might ask why would I want to enter into any of these life settlement agreements. The reasons for entering into life settlement agreements vary from person to person but the usual reasons are that they no longer want their life insurance policy, they no longer need their life insurance policy, the can no longer afford to keep their life insurance policy, or they need the funds that can be derived from the sale of their life insurance policy to maintain their life style.
With today’s medical technology people are now faced with the idea that they might outlive their funds and they need to find a way to access money to sustain their lifestyle as well as cut some of their costs that they are incurring on an annual basis. Entering into life settlement agreements help the owners with both of these needs and if you have a good life settlement broker they can with ideas on how not to outlive the new funds that are acquired.
Click our Livepdq link to see how we can help you with all your needs regarding your life insurance an life settlement agreements.
Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.
Posted by Alice Hood on Tue, Jun 29, 2010 @ 07:59 AM
By
Stephen R. Bathon, CLU, ChFC, AEP
Several years ago, before concerns over stranger owned life insurance (STOLI), a large charity made
life settlement agreements
with some of its biggest donors. The plan was to buy life contracts ($1,000,000 each) and to keep them until the individuals died. The life insurance would provide a hedge against the loss of future gifts historically made by the donors. If money got tight, the back-up plan was to sell the contracts under life settlement agreements that had been worked out in advance.
With the recent down-turn in the economy, the charity no longer had the funds to maintain the multiple life contracts. It was time to exercise the life settlement agreements. All the policies were eventually sold. One donor, however, was concerned about the life settlement agreements and he was backing away from the sale. He refused to provide the charity’s settlement broker with signatures and information critical to the sale. To compound the problem, he had moved to Florida. He was now concerned about some of the settlement problems he had heard about in his new retirement community.
The policy was about to be canceled by the company, when I suggested a solution. I asked the charity to give the contract to the insured and allow him to sell it. The charity gave him the contract (they had nothing to lose at this point) and only asked him to consider making a gift from any settlement he received.
More comfortable after taking control, the contract was sold by the insured and he fulfilled his obligation to the charity by giving them half the proceeds from the sale.
If you would like to learn more about life settlement agreements, please click the
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Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.
Posted by Alice Hood on Mon, Jun 28, 2010 @ 09:31 PM
By Edward E Leisher
Life Settlement Agreements
are a great option for individuals who are in need of funds to pay for medical treatments or debts. They are also a great option for someone who has recently re-evaluated their estate planning needs and have found that they no longer have the need for quite so much coverage but would like to liquidity. Perhaps a policy that was purchased for key man coverage is no longer needed. There are quite a few circumstances that life settlement agreements are a great solution to.
Rather than take the cash value on the policy, or even worse let it lapse, life settlement agreements provide an alternate option to individuals. The cash generated from the sale of a policy then can become a liquid asset to the seller to do with it as they please. However it is always important to enter into a life settlement with complete understanding of the transaction. Always do your research and work with a trusted and respected professional who will keep your best interests at the forefront of the matter.
Find out more at LIVEpdq.
Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.
Posted by Alice Hood on Mon, Jun 28, 2010 @ 09:30 PM
By Stephen A. Bailey
Life settlement agreements
- an agreement with the insured, needs to be fairly regulated and that will help this business to be validated as a consumer friendly business. Growth is going to be very rapid now with all the Boomers reaching the golden age of 70 and beyond and a solid foundation is very important so all parties to the transaction are getting a fair shake. You cannot have a client with a similar health and financial situation, with a policy of like premium and maybe even the same company as another person, getting far less of a settlement for the nearly identical situation.
Yes the settlement depends on area of the country, availability of like investors and other variables, but the differences in life settlement agreements can still be minimal. The broker will have life settlement agreements with clients that will differ, just like a real estate transaction. If an agent sells your house for X dollars, maybe another agent could have sold it for significantly more dollars. And, one lender cold charge you more than another in fees for a new mortgage, etc. But those variables will always exist. However, there are regulations within documents, that remain the same for all transactions within a certain State. There are protections in writing that have to be adhered to.
Life settlement agreements with the insured, as to a range for instance of what he/she can expect to sell their policy, are in place in many states and more and more are coming on board. I think the key to being assured of a fair agreement, is to be with a reputable and proven broker, and in my opinion would have few to none complaints and have been in business for at least 6 to 7 years minimum. I work with a broker of more than 30 years.
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Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.
Posted by Alice Hood on Mon, Jun 28, 2010 @ 09:27 PM
By
Stephen P Turtur
Life settlement agreements
or contracts are offers from a funder or funders for the rights to your life insurance policy. The amount of money that you may be offered depends on several factors. These factors associated with policy cost structure and life expectancy do not mean that you can just assume that you are being offered a fair price. Obviously a funders objective is to obtain the rights to your policy for the lowest cost possible, whereas your objective is the opposite. So how could you know what is the fair amount as you do not do this for a living? First, hire an agent/advisor that will be paid for his service according to the price you receive. If he or she obtains a higher price then they will be compensated more. Second, require that the policy be "shopped" to several funders. I have found that when funders know that there is competition, they may comeback with better offers as they have already put forth costs to make offers in the first place. Life settlement agreements like any other asset you require a contract to sell, come down to the agreement between a willing buyer and the willing seller. This usually pertains to price and life settlement agreements are no different.
To obtain a fair price click on
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Posted by Alice Hood on Fri, Jun 25, 2010 @ 03:18 PM
By Rick S Cantville
Life settlement agreements
are more commonly known as the documents that are generated when an offer to purchase a life insurance policy comes from a life settlement funder.
After a life insurance policy has been priced, an offer made and accepted, the purchaser of the life insurance policy will generate the life settlement agreements, which will give details regarding the parties involved in the purchase transaction, the purchase price and also all of the documents necessary to change ownership from the current owner of a life insurance policy to the new owner. These documents will be sent to the owner of the policy for completion via the life settlement broker or producer.
Once the life settlement agreements have been completed and returned to the life settlement funder, completion of the file may not finalize for several weeks. Since change of ownership needs to take place with the life insurance carrier, this process can take up to 30 days or more. In this time period, the money that will be used to purchase the policy, pay commissions, and pay the owner, will be placed in escrow. Once the owner and beneficiary changes are complete with the carrier, funds are generally disbursed within days.
Depending on the life settlement funder, the life settlement agreements paperwork may be substantial, so have a new pen handy, as there will be quite a bit to sign, read, and acknowledge, since all parties involved need to do their due diligence to ensure the process is legal and compliant.
For more information on life settlements, please visit LivePDQ!
Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.