Tools & Techniques of Life Settlement Planning

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Retirement Plan Analyzer It is designed to evaluate pension and profit-sharing distribution strategies..


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Privacy Policy. Step 2: Representation If a life settlement is determined to be the best option, the policy owner or the advisor contacts a life settlement provider, like Berkshire, or interacts with their trusted advisor to contact us to discuss the possibility of a life settlement. These reports are developed by in-house and independent companies. We consider different factors when valuing a policy, including contract specifics such as premium expense, death benefit, and carrier ratings, as well as insured information such as age and life expectancy.

Life Settlement Planning

Step 6: Offer We will either decline or extend an offer to the policy owner or their trusted advisor. The policy owner can accept or decline any offer. Step 7: Purchase and Sale Agreement If the policy owner accepts an offer, we will prepare a purchase and sale agreement and other documents formalizing the transaction.

The policy owner, insured person, and beneficiaries then sign this package. We will review, complete due diligence, and countersign the package. The funds for the settlement transaction are then placed in an escrow account. Step 8: Notification The insurance carrier is notified of the change of policy ownership and beneficiary to the new owner, the provider. Step 9: Funds Transfer Upon written verification of the change of ownership and beneficiary, the escrow agent releases the settlement payment to the seller of the policy.

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As a policy owner, you do have some exit strategies when it comes to your life insurance policy, including the underlying asset of life settlements. Unfortunately, only six states require the life insurance companies to notify policy owners of the alternatives to lapsing or surrendering a policy back to the insurance company. This is calculated with an insured having an industry average of 10 years. Your policy is valued based on a number of variables, most importantly the face value of the policy, the future premium obligations in order to keep the policy in force, and the life expectancy of the insured.

A life and viatical settlement are essentially the same thing: a sale of a life insurance policy to a third party for a lump sum of cash, today.

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The major difference is the term viatical is typically associated with a sale of a policy where the insured has a chronic or terminal illness. Remember, some states do not distinguish the difference in terminology between the transactions. There could also be a difference in the tax consequences between a viatical and life settlement.

We suggest you discuss the tax consequences of both settlements with your tax advisor. The proceeds of a life settlement are usually taxable. Ask a professional tax advisor to be absolutely sure.

The Tools & Techniques of Life Insurance Planning, 6th edition

The proceeds of a life settlement could also be subject to creditors' claims. If the seller is within two years of death, other laws making the proceeds tax-free may apply. If you feel you can represent yourself in the transaction you can potentially save yourself thousands of dollars in fees. Much like selling any asset for value, make sure you understand the transaction before making a decision.

There is no cost to apply. If you choose to be represented by a broker in a life settlement, they will charge a fee for their services. The amount and method of calculating the fee should be provided to the policy seller in the disclosures from their broker. Typical disclosures include but are not limited to the following:. Most life settlement transaction take one to five months, on average, to complete.

Life settlement transactions are complex and require the cooperation of a number of entities. Some entities have statutory limitations on the amount of time to respond to certain requests during the transfer process. This can delay the transaction.

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It's always recommended to speak with the insurance agent, professional advisor, or a life settlement provider before beginning the life settlement process, especially if your policy is approaching lapsation or a premium payment is quickly forthcoming. Options may be available to keep the policy in force while you weigh your options. The life insurance settlement industry takes privacy issues very seriously.

Life Settlements - What Every Professional Must Know

In most cases, the identity of the insured person or their financial or medical information may not be disclosed unless it is:. Rybka; Paul A. Younger insured people with a terminal or chronic health conditions may also qualify.

Benefits include pre-conference publicity, logo and literature placement, exhibit space, online ad placement, and complimentary registration. For this event, we have contracted to rent the entire 2nd floor facility to accommodate our attendees and sponsors. Call us at or email team dealflow.


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Toggle navigation. The Life Settlements Conference. The Life Settlements Conference is the largest gathering of investors, brokers, insurance experts, and finance professionals interested in networking and discussion of the life settlements market. New York City. September Hosted By. Who'll Be Attending Attendees at the Life Settlements Conference represent a broad range of legal and finance professionals with common interests and shared goals. Event Speakers Our panelists and presenters are thought leaders in the industry.