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Why you should get a Life Settlement Evaluation - Healthcare Quality Improvement Campaign
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Studies show that 9 out of 10 life insurance policies are in danger of being lapsed or surrendered by the owner. But, according to the National Association of Insurance Commissioners (NAIC), the value that a policy owner can receive through a Life Settlement can be significantly higher. A Life Settlement Evaluation will quickly determine if a policy owner would qualify to settle their policy while it is still in-force, and what percentage of the face value that they could receive today as a payout for their policy.

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What Is the Life Settlement Evaluation Process?

Step OneInformation: Submit policy owner information and a current, in-force illustration or copy of the policy.

Step TwoAnalysis: Policy owner information is reviewed for age, gender, state of residence, and prevailing health impairments. The policy will be reviewed to understand the remaining time the policy will remain in-force and the cost of premium payments.

Step ThreeResults: A policy valuation analysis is issued detailing what the owner could expect to receive as a percentage of the death benefit as a purchase price for their policy. A formal purchase and sale agreement is executed if the policy owner agrees to the valuation offer. The typical time it takes from opening the case to closing the purchase and sale of the policy is 60-90 days.

Health is a key factor in determining eligibility and value for a life settlement. The value of a Life Settlement is based on “reverse underwriting’ so the older and sicker a person is, the more they will get from a life Settlement. Someone too young and healthy will not qualify for a Life Settlement.

Qualifying for a Life Settlement is the opposite of qualifying to purchase insurance. In this case, the older and sicker the insured life of the policy is, the higher percentage of the death benefit the policy owner will receive in “present-day value”. This is important for seniors who are experiencing declining health and financial complications.

Individual or co-morbid medical conditions have varying degrees of impact on mortality.  Three levels of conditions include:

  • Minor Health Problems– Overweight, Elevated Cholesterol, Asthma, Arthritis, Cancer that has been in remission for 5 years or longer, Osteoporosis, Diabetes (type II), Hypertension, Ulcers, Atrial Fibrillation.
  • Health Changed Considerably since Policy Issue– Hepatitis C, Pacemaker, Multiple Sclerosis, TIA, Sleep Apnea, poorly controlled Hypertension or Diabetes, Parkinson Disease, short-term memory loss.
  • Serious Health Problems – Multiple TIA’s, Heart Failure, Coronary Artery Disease, COPD, Stroke, Heart Attack, Lupus, Emphysema, Cancer (recent or recurring), Cirrhosis, Coronary By Pass, Alzheimer’s disease, aneurysm, peripheral vascular disease, valve replacement or repair.

A person who would qualify to buy a Life or a Long-Term Care Insurance policy, would be too young and/or healthy to qualify for a Life Settlement. The typical age range for a Life Settlement is 75-92 with a remaining life expectancy of 10 years or less.

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Why you should get a Life Settlement Evaluation

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Nothing on this website should ever be used as a substitute for professional medical advice. You should always consult with your medical provider regarding diagnosis or treatment for a health condition, including decisions about the correct medication for your condition, as well as prior to undertaking any specific exercise or dietary routine.

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This site is a non-government resource , providing information in a simple and straightforward way. Nothing on this website should ever be used as a substitute for professional medical advice. You should always consult with your medical provider regarding diagnosis or treatment for a health condition, including decisions about the correct medication for your condition, as well as prior to undertaking any specific exercise or dietary routine. The purpose of any insurance communication is the solicitation of insurance. Contact will be made by a licensed insurance agent/producer or insurance company. Medicare Supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program. Our advertisers sell insurance offered from a number of different Medicare Supplement insurance companies. The trademarks or service marks sold or described herein, or in blogs or advertisements, are owned by the respective trademark owners and nothing herein should be construed as a representation by this site owner or team members.