Life settlements are an excellent avenue for life insurance policy holders to explore in specific situations. They can give you much more maneuverability and flexibility, allowing you to cover immediate costs and to fund future trips or plans, but it’s important to remember that not everybody qualifies for a life settlement. You need to fulfil several criteria to make sure that you’re a suitable candidate for a life settlement transaction – something that we’re more than capable of assisting you with. At Sell Your Life Settlement, our extensive experience with life settlements means that we’re the best option for any life settlement that you’re planning on pursuing. To see if this might be an option open to you, simply read on below to learn about the qualification restrictions. For those with any lingering doubts or questions, our customer service representatives are more than happy to provide clarity over the phone or online.
Life Settlement Restrictions
Life settlements allow you to sell off your existing life insurance policy to gain some immediate cash – and that means you won’t have to cover the insurance policy premiums any longer – but this is only accessible to people that fall into certain categories. To get a life settlement in place, ideally you should be age 65 or older to start with. Beyond that, it’s also beneficial that you hold a life insurance policy that has a face value of $100,000 or more, and that you have a life expectancy of up to 20 years. Of course, there’s some wiggle room that might allow you to qualify for a life settlement without falling into these categories.
Viatical Settlement Restrictions
A viatical settlement is an excellent option for those who are in the unfortunate position of having a chronic or terminal illness. It allows them to have access to a cash settlement which can cover their care costs, facilitate greater time spent with their family, and can help in a number of other ways. To qualify for a viatical settlement, the life insurance policy holder is generally required to have a life expectancy of less than two years.
Straightforward Assessment Processes
People often avoid dealing with their insurance policies and financial matters because of all the red tape that’s involved – this is understandable, nobody likes dealing with bureaucratic nonsense, after all – but it’s important that you don’t miss out on something hugely beneficial. We have a straightforward assessment process to define your eligibility for a viatical or life settlement transaction, and we’ll make sure that the process is accurate, efficient, and stress-free for your benefit.
Reasons to Consider
If it appears that you qualify for a life settlement or a viatical settlement, there are plenty of reasons that you ought to consider this is as a prudent course of action. There are a number of situations where a policy holder no longer needs life insurance – like when a spouse has passed away, or a policy holder might have outlived a specific risk – and in those situations, life settlements give you a massive net benefit.