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Time waits for no one….. Allow yourself to cash in on some of the potential in a Life Settlement industry estimated to be in excess of 100 billion dollars.
Just as high net worth individuals are emerging prospects for Life Settlements, so are policyholders over the age of 70 regardless of their financial status.
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By the year 2030, more than 70 million seniors will be alive.
Life Settlements provide individuals over age of 65 with innovative alternatives to surrendering a life insurance policy or allowing it to lapse or expire. Actuarial industry statistics indicate that over 40% of life insurance policies held by individuals over age of 65 will eventually lapse, expire, or be surrendered.
This service is also targeted to Seniors who have become ill or who find that their retirement assets are running low. With the rising cost of health care and in-home/nursing-home care, proceeds from the settlement can be used to pay for daily living expenses or long-term care needs.
Today, more than $14 trillion of life insurance is in force in United States*, with the potential Life Settlement market projected to be more than $100 billion, as the value of life insurance covering seniors is expected to be $492 billion.
Allowing Seniors who face financial need or seek investment opportunities to complete a Life Settlement transaction will assist in securing long-term care and in reaching financial goals. For Seniors in particular, a Life Settlement transaction can complement reverse mortgages, which have also grown in popularity in recent years. A reverse mortgage provides cash to homeowners who are over the age 62, using standard annuity or life insurance mortality tables. Repayments are secured by the Seniors’ residences.
The Federal National Mortgage Association estimates that the potential market for reverse mortgages is approximately 6.7 million households in the United States. Many such households own other financial products such as life insurance and annuities. Thus, many of these households are also potentially good candidates for Life Settlement transactions.
*Best’ Aggregates and Averages, AM Best,1995
^Conning and Conning research study(1999), and industry sources
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