Qualifying for a Life Insurance Settlement
Qualifying policies must have a minimum face value of $100,000. Many companies will only purchase policies with face values of $250,000, and provider companies tell us that they most frequently buy policies with face values from $1 million to $10 million. Insured men who are 75 plus and women who are 78 or older are more likely to get solid purchase offers,”
says Buckley. She notes that life settlements can work for any type of policy, even term insurance.
Anyone who owns a life insurance policy that insures someone 65 or older, especially when that policy is no longer wanted or needed, can use the life settlement process to get a real current value. Policies owned by a trust, a business, a charitable institution, or by individuals all can be sold.
To find out if your qualify or to ask question to a Life Settlement Professional call toll free 1-888-973-8377
