Is Now the Right Time for a Life Settlement?

SeniorLIFE™ can provide you peace of mind. In times of transition or financial crisis, the liquidation of a life insurance policy through a Life Settlement can act as a “funding bridge” to help cover the costs of retirement and senior living when other assets such as a home or stocks are underperforming or are difficult to sell.

Why sell such a valuable asset to an investor rather than leave the face amount for your beneficiaries? SeniorLIFE™ recommends that you consider selling your policy:

• If you are planning to surrender or let the policy lapse
• Your insurance needs have changed
• Your health status has changed since you purchased the policy
• If you have no beneficiaries to whom you would like to leave a gift
• If you are a retiring key-person or selling a company/partnership
• If you can no longer afford the premiums
• You have no other use for the policy

If any of the above apply, then contact SeniorLIFE™ to find out whether you qualify for a life settlement before you obtain a settlement from the insurance company or just let it lapse. Our life settlement consult is FREE and confidential. It only takes a few moments of your time to fill out and submit our policy valuation form.

If you are over age 65 and have in place $50,000 or more in life insurance coverage that is beyond the period of contestability, you may qualify for a Life Settlement regardless of health.

Why Work with SeniorLIFE™

What are the benefits of working with SeniorLIFE™?

• You can raise significantly more cash than the policy’s surrender value, in exchange for any type of life insurance (even Term or Key-Person);
• There are no income or asset restrictions to qualify;
• With SeniorLIFE™, it’s a relatively straightforward and quick process that involves little more than filling out a qualifying application and signing a HIPAA authorization form to allow release and review of medical records for underwriting purposes;
• A Life Settlement is a liquidation of an asset and not a loan so proceeds can be used without restriction;
• SeniorLIFE™ ensures the most competitive bidding process in the open marketplace by working with multiple Institutional Providers as well as through two distinct market exchanges;
• Fees are paid at closing by the Institutional Settlement Provider acquiring the policy;
• Life Settlements are not a reverse mortgage, not long-term care insurance and not a government program; and
• There are no interest fees, guarantees, or liens associated with a Life Settlement.

We at SeniorLIFE™ want  to remind you:

• A Life Settlement involves signing over the death benefit to a third-party that will continue to pay the policy’s premiums until they collect the full value upon policy maturity.

• Please consult your tax advisor regarding your specific situation and for any applicable federal or state tax advice. Tax treatment differs between Term and Universal or Whole Life policies.  Generally speaking and according to industry reports, Life Settlement proceeds are tax-free up to the cost basis (premiums paid since policy inception). Proceeds are taxed as ordinary income from basis to cash surrender value and proceeds above the cash surrender value are taxed as capital gains. These general rules can change with time and vary by state.
  
  Again, SeniorLIFE™ is not a licensed tax consultant or financial planner and strongly recommends that you consult your trusted tax advisor BEFORE completing a Life Settlement to ensure your particular estate and tax considerations are addressed.