Age 75
Male
Term Policy
Face Value: 5,000,000
Cash Surrender Value: 0
Life Settlement Amount: 1,250,000 |
|
The
client no longer needed the policy to cover an old
estate plan. |
| |
Age 85
Female
Universal Life Policy
Face Value: 550,000
Cash Surrender Value: 160,000
Life Settlement Amount: 225,000 |
The
policy was not performing as expected.
The advisor used the settlement to pay down a
replacement policy. |
| |
Age 86
Female
Universal Life Policy
Face Value: 9,000,000
Cash Surrender Value: 1,450,000
Life Settlement Amount: 3,000,000 |
|
The
client wanted to sell the individual policy and use
the proceeds to purchase a less expensive
survivorship policy with a guaranteed death benefit.
|
| |
Age 68
Female
Term Policy
Face Value: 500,000
Cash Surrender Value: 5,000
Life Settlement Amount: 75,775 |
|
The
client used the proceeds to fund a long term care
policy that she previously wouldn't have been able
to afford. |
| |
Age 77
Male
Universal Life
Face Value: 3,900,000
Cash Surrender Value: 180,000
Life Settlement amount: 900,000 |
|
The
client decided to use the proceeds to purchase a
more efficient policy on the life of his spouse. The
new policy had a $4.4 million dollar face value with
significantly lower premiums. |
| |
Age 79
Male
Term Policy (convertible)
Face Value: 5,000,000
Cash Surrender Value: $0
Life Settlement Amount: 487,000 |
|
The
client no longer needed his buy/sell arrangement
policy due to the sale of his business.
|
| |
Age 76
Male
Universal Life
Face Value: 8,000,000
Cash Surrender Value: 749,000
Life Settlement Amount: 2,300,000 |
|
The
client no longer needed the policy to cover an out
of date estate plan. |
| |
Age 76
Female
Term Policy
Face Value: 1,000,000
Cash Surrender Value: 0
Life Settlement Amount: 200,000 |
The
client could no longer afford the policy due to a
dramatic increase in premiums.
Before deciding to let the policy lapse she decided
to place the policy on the secondary market and
received a lump sum settlement. |
| |
Age 74
Male
Universal Life Policy
Face Value: 5,000,000
Cash Surrender Value: 249,000
Life Settlement Amount: 1,200,000 |
|
The
client's business owned this policy on his life
because it was required by the bank. Once retired,
it was no longer needed. In addition, the client's
health had deteriorated since the issue date.
|
