Senior Settlement Life

A senior settlement (life settlement) is a financial transaction in which a senior citizen possessing an unneeded or unwanted life insurance policy sells the policy to a third party, as opposed to surrendering it back to the life insurance company.

Senior citizens who have the greatest chance of selling their policies generally are over 65 years of age, have a calculated life expectancy of more than two years, but less than ten years, and may have experienced a health change that has led to their insurance premiums increasing. This undesirable scenario, often coupled with increasing health care and/or nursing home care costs, makes a senior settlement an attractive option to many seniors. There are certain restrictions for their policies as well - policies must be valued at $100,000 or more, and depending on the life expectancy determination of the seller, any and all types of policies can be sold, ie; universal life, whole life, or convertible term contracts.

Speak with a Senior Settlement Advisor by calling 1-888-973-8377.