Case Study# 1: 88-year-old female
- Policy Face Value: $900,000
- Annual Premium: $45,495
- Client Offer: $195,000
- Policy Type: UL
- Cash Value: $2,652
Summary: The client no longer needed this policy, which was originally purchased for estate tax purposes. The client ultimately accepted an offer that was a whopping 73.5 times greater than the policy’s cash value.
Case Study #2: 78-year-old male
- Policy Face Value: $1M
- Annual Premium: $21,796
- Client Offer: $50,000 + a retained death benefit of $400,000
- Policy Type: UL
- Cash Value: $174,188
Summary: The client could no longer afford to pay premiums, but it was extremely important to him that he be able to maintain a life insurance policy for his beneficiary. He decided to pursue a senior life insurance settlement to sell his current policy and use the proceeds to purchase a new one. The life settlement appraisal value allowed him to settlement with a new policy that would no longer require him to pay premiums and would also provide a $400,000 death benefit to his beneficiary. And although he was not necessarily looking for a cash settlement, the client was thrilled that the life settlement also included a $50,000 cash payment to him.
Case Study #3: 83-year-old female
- Policy Face Value: $4M
- Annual Premium: $263,021
- Client Offer: $420,000
- Policy Type: Universal Life
- Cash Value: $0
Summary: This client simply did not want her policy any longer. She worked with her agent to ship the policy directly out to market, without much luck. Her agent suggested they reverse course and begin with a life settlement appraisal to see if we might have more success determining a value of the life insurance policy.
If you have any specific questions about a viatical and your situation, please feel free to contact us at 1-800 RAP POLICY or 1-800-727-7654
*Case On File