Life Insurance Settlement and Hedgefund Companies?
I have a life insurance policy of $2,500,000.00 coverage for a male who is now 87 years old. The premium is about $230,000 per year. He has a life expectancy of 35 months left. The policy is owned by Jefferson Pilot/Lincoln National. The man just got cancer soon after we bought the policy and he is now in remission. I am looking to sell the benefits of the policy because I can no longer make the premium payments. Where or who can I sell such a policy to?
- AnonymousLv 71 decade agoFavorite Answer
The INSURANCE company owns the policy? I seriously doubt that. They ISSUED the policy.
I don't believe this is true. I don't believe he got a policy more than 10 years ago, and the current premium is $230,000 a year. I flat out don't believe you.
- 6 years ago
You can sell it to investors at 30 cents on the dollar or BETTER get a non recourse investor loan on it where the investor makes the payments on the policy premiums and charges you 4% origination fees on the face value plus 18% interest per year payable upon insured death. Its much better that cashing in the policy! I am doing that with my 91 year father who has a payout of $1385,000 w/ yearly [premiums of 4138,000
- lipsonLv 44 years ago
there are various motives you're able to evaluate a existence settlement. they could contain: a million) you choose the money. 2) You now no longer choose the assurance. (existence settlements often pay way better than the resign cost of an eternal coverage, and term rules with out resign cost can be bought.) 3) You now no longer can or choose to pay the top type, yet do no longer elect to stroll away with too little or no longer something. shop in mind that existence settlements are in ordinary terms provided whilst the insured has a existence expectancy of under approximately 12 years.