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A life settlement is a financial option available to qualified individuals who own a life insurance policy. Life settlements allow individuals to turn an existing life insurance policy into an asset that can be used today – when it may be needed most. An investment company, called a funding or provider company, can purchase a life insurance policy from an individual.  This process provides the owner of the policy with a lump sum of cash and ends future premium payments. However, the owner relinquishes all rights and future benefits of the policy and the investment company becomes the new owner.
                                
It is highly recommended that you use the service of an experienced-licensed broker to handle the transaction; many states require that you do so. A licensed broker, such as ALIR, has the responsibility to the owner of the life insurance policy to handle the transaction and ensure you are receiving fair market value.  ALIR as a licensed, professional and independent broker will secure the highest offer for the policy by creating competition among provider/funding companies.

Anyone, seeking a life settlement should first talk with his or her insurance agent/consultant, financial professional and legal advisors. Generally, candidates for life settlements are 65 years of age or older and have owned a policy for more than two years. However, in certain circumstances the age may vary and be younger than 65.  Most policy types including term, whole, universal, and group may be eligible.  Policies may be owned individually, or through a corporation/business, foundation, trust, or non-profit organization. A brief discussion with an ALIR professional will help you determine your eligibility and options

The opportunity offered by the secondary market for life insurance presents eligible policyholders more choices than ever before and the benefits can be significant.

To find out if you qualify for a life settlement, call 1.888.599.1112, or fill out the form below.

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