Understanding the Life Settlement Solution

Life settlement solution became known in the United States in the 1990's and grew from the viatical life settlements of the 80's, before that the only way a policy owner to get cash from their policy was to borrow against the policy’s cash value or to surrender it to the insurance company for its surrender value.

Understanding the Life Settlement Solution

Today these seniors can sell their policies through a life settlement solution and get the true current market value, the market value being greater than the surrender value of the policy.

Although life settlement solutions are similar to viaticals, life settlements are marketed to a different group of seniors. This is marketed to people who are at least 65 years old and who don't have a terminal illness and who generally have an estimated life expectancy of 12 years or less.

Any type of insurance policy can be used in a life settlement solution. These include universal, survivorship, term, whole life and variable life insurance policies.

A life settlement option involves the sale of a life insurance policy for its market value. This market value provides seniors with a way of accessing the equity they have in their life insurance policies to fund other financial obligations or needs they may have. Life settlement solution became known in the United States in the 1990's and grew from the viatical life settlements of the 80's, before that the only way a policy owner to get cash from their policy was to borrow against the policy’s cash value or to surrender it to the insurance company for its surrender value.

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