More examples in Estate Planning/Inheritance Planning & Estate Goals
Life Settlement Examples for Inheritance Planning & Estate Example
SmartDraw includes thousands of professional-looking diagrams like this that you can easily edit and make your own.
Text in this example:
Gender Age Policy Type Face Amount Cash Value Reason for Sale Life Settlement Male 66 Convertible Term Life $300,000 $0 No longer need for coverage $50,700 Male 65 Convertible Term Life $1,575,000 $0 Want to enhance retirement income $365,000 Female 67 Convertible Term Life $1,225,000 $0 Want to maximize value $280,000 Female 72 Universal Life $1,775,000 $675,000 Use settlement funds for new death benefit policy $$805,000 Female 74 Universal Life $10,000,000 $2,000,000 Husband deceased, no longer wants to fund the premium $2,700,000 Life Settlement Cases Individuals who are selling their life insurance policy at a discount must meet the following guidelines:
The insured should be over the age of 65.
There should not be a negative change in health since the policy was issued.
The policy must have been in effect for over 2 years.
The insured should have a future life expectancy of less than 12 years.
The death benefit of the policy should be a minimum of $100,000.
The insured should be over the age of 65.
There should not be a negative change in health since the policy was issued.
The policy must have been in effect for over 2 years.
The insured should have a future life expectancy of less than 12 years.
The death benefit of the policy should be a minimum of $100,000.