The concept of Life Settlements is over 100 years old. It began with the U.S. Supreme Court’s decision in the case of Grigsby vs Russell where the court ruled that life insurance was like any other personal property and could be sold to a third party.
There are two key variables that determine whether an individual would benefit from a life settlement. Those variables are the health condition and the age of the insured. In general, any senior, 70 years of age or older usually will benefit from a life settlement and receive a much higher value then just surrounding the policy.
Today’s seniors are facing as uncertain of times as ever. The recent pandemic, rising health care costs and the uncertainty of government resources like social security have many seniors reevaluating their financial strategies.
A life insurance policy is an asset that can outlive its usefulness. The original beneficiary may not need the proceeds anymore, the premiums have become unaffordable or the policyholder may just want more money available to spend while he/she is living as opposed to the death benefit being paid out to someone else.
Determining whether a life settlement may be a good option for you is easy. We provide a confidential, no cost, no risk analysis using your specific facts and circumstances in our analysis.
So, if you are age 70 or older, or are in failing health, contact us today!
Dan A. Penning
Life Settlements Specialist
Professional Life Settlements Plus
