Services

Life Settlements

A life settlement is the sale of an existing life insurance policy to a settlement 
provider or funding company. The provider determines a dollar value of the 
existing policy and the policy owner receives a check. Of course the next 
questions are:

Why would a policy be sold? Who qualifies? What type of policy qualifies?

There are many reasons for selling a policy:

Raise money for medical expenses, charitable contributions, the policy is no longer 
needed, the policy will lapse without benefit to the owner.

Next, what type of policy qualifies for a life settlement?

Almost any type of policy will qualify - term, ordinary, whole life, group, key 
man, etc. The policy should have a face value of $250,000.

Finally, who qualifies?

When assessing a case the provider reviews the age of the policy owner (65 plus 
is best) and health conditions. These factors determine the amount of funding a
company may offer. Of course, each case is reviewed on an individual basis. There 
are no strict regulations or guidelines. 

For more information, please contact Robert at 913-962-4392 or rbell@tbals.com.