All American Advisors recognizes that many seniors have encountered changes in their lifestyles that may affect their need for costly life insurance policies, which can become a financial burden.
When this is the case, All American Advisors can help ease the burden through facilitating Life Insurance Settlements.
What is a life insurance settlement?
Life settlement is the term used to describe the process by which a senior sells an existing and unwanted life insurance policy to a third party. This frees the senior from the policy premium payments, and the policies can oftentimes be sold at a significantly higher value than the insurance company is willing to pay.
Life Settlements are a legitimate financial solution for many seniors who desire an immediate cash return on the investment they've made over the years in policy premiums. Most people are not aware that they can sell their policy for cash proceeds that can be used in whatever manner they wish.
How old is the Life Settlement industry?
The Life Insurance Settlement industry is relatively new. It emerged in 2001 when The National Association of Insurance Commissioners (NAIC) declared the sale and acquisition of policies as a legitimate practive. The industry has grown rapidly since then.
How does a Life Settlement work? What are the steps?
The steps in a Life Settlement transaction are as follows:
- The policy owner contacts an advisor with the intention of selling an existing life insurance policy.
- The client and the advisor jointly submit the policy for appraisal.
- If the policy appraises satisfactorily, potential buyers will send offers.
- The policy owner selects an offer.
- The buyer provides a cash payment in an escrow account and submits change of ownership paperwork to the insurance provider.
- Transfer completes.
We are dedicated to helping educate seniors concerning their Life Insurance Settlement options. When you contact us for a free in-home or telephone consultation, we research your individual policy details and assess your personal financial situation to provide options that will assist you in reaching an optimal solution.
Life Insurance premiums can become a difficult burden to justify. Contacting All American Advisors puts you one step closer to being free of this burden for a significant monetary return:
- We help you achieve the maximum cash settlement for your life insurance policy;
- We deliver a free, confidential, no obligation assessment of your policy, we never require medical examinations, and we protect the confidentiality of your information;
- We work alongside your financial planner, accountant, attorney, or any other trusted advisor to ensure the life settlement is integrated into your comprehensive financial strategy.
All American Advisors is your trusted source for Life Settlement issues. Allow us to help educate you on your options. Education is the first step to helping you relax into the golden years of your life.