For many years, securing a life settlement offer was challenging for those in good health. Typically, such offers were reserved for individuals with health issues that reduced life expectancy. However, advances in proprietary strategies have opened new opportunities. Now, even healthy insured individuals meeting specific criteria can unlock cash from their life policies.
One significant aspect of this development is age criteria. Males should be at least 73, and females 75, with the best chances between 80-90 years old. Health status is also crucial; candidates should be in good health without mental impairments. Additionally, policy age matters; while older policies are preferred, some exceptions exist for policies at least two years old.
The face amount of your policy is another factor, ranging from $250,000 to $20,000,000. This wide range accommodates various financial needs and plans. The type of policy plays a role too. Almost any form of universal life policy is considered acceptable. Moreover, the policy pricing is vital. For individuals aged 80-85, premiums must be under 4% of the face value. For those aged 86-90, the premium should be less than 6%.
A crucial question is how these settlements work. The exact proprietary strategy isn’t fully disclosed. However, a well-priced policy and the elimination of medical records or life expectancy evaluations are key components. This approach reduces acquisition costs and simplifies the underwriting process. Consequently, offers can be made swiftly, often within a few days.
Consider a few examples to understand better. An 86-year-old woman with a $600,000 universal life policy found her premiums unaffordable. She managed to secure an offer of $130,000 for her policy, thanks to the new strategy. Another case involved an 80-year-old man with a $3.5 million guaranteed UL policy. Initially for estate planning, the policy became redundant after changes in estate tax law. With a premium to face ratio of 3.6%, he received $510,000 for his policy.
These scenarios illustrate that even healthy insured individuals can benefit from life settlements. This is particularly true if they have policies that are no longer wanted, needed, or affordable. The opportunities exist for those who meet the specific criteria.
Our goal is to provide the information and tools necessary to make informed decisions. By offering free quotes and estimates, we ensure clients have all the details needed to choose the best financial path. Our commitment is to empower clients, helping them meet their changing life goals with ease.
As we see, healthy insureds can now unlock cash from their life policies. This is a significant shift from the past. If you’re in good health and meet the criteria, it’s worth exploring your options. Life settlements offer a way to capitalize on existing policies, providing financial flexibility and peace of mind for the future.
We are dedicated to assisting clients every step of the way. Understanding and navigating life settlements can seem daunting, but we are here to help. Our services are tailored to provide maximum benefits, ensuring clarity and transparency throughout the process. Whether you need cash to meet financial obligations or want to pass on a legacy, we can guide you in unlocking the hidden potential of your life insurance.
