Testing

Life settlements are defined as the sale of an existing life insurance policy by the policy owner to a third party. Life settlements are based on the premise that many seniors no longer want, need or can afford to pay premiums on their life insurance policies. Instead of surrendering a policy for a mere fraction of its face value (typically 3% - 5%), it can be sold in the secondary market for a significant financial gain.

Unfortunately, too many seniors and their financial advisors fail to capitalize on the life settlement opportunity and simply let policies lapse. For example, according to the Insurance Information Institute in 2005, it is estimated that 19.8 million life insurance policies lapsed or expired, while only 2.2 million policies paid death benefit claims.

Today, countless seniors can realize significant financial benefits and security through life settlements.