Below are some guidelines that will help you determine whether your client is a good candidate for a life settlement:
- The insured person must have a limited life expectancy, due to advanced age and/or medical impairments
- The policy must be transferable and must have been in effect for at least 2 years (i.e., beyond the contestability period)
- The policy must be issued by a U.S. insurance company
Legacy Benefits will consider purchasing practically any type of life insurance policy, including the following:
- Universal Life
- Term Life
- Whole Life
- Survivorship Life
The selling policy owner may be any one of the following:
- One or more individuals
- A trust
- A corporation or non-profit organization
- A bank or other financial institution
- A limited liability company, partnership or other business entity
