I was recently asked by one of my clients to investigate the value of her policy if she sold it to a life settlement investor. Before we started our research into the value of her policy, I wanted to know the reason(s) why she no longer wanted to keep this policy and felt the need to sell it to a life settlement investor. She originally had purchased the policy to protect her business and since she had sold the business it was no longer needed. So with that knowledge I felt comfortable we could move forward and I contacted a highly regarded life settlement broker and they requested my client’s medical records. After my client had signed the broker’s HIPAA release form we learned approximately 6 weeks later the highest value or percentage of the face value of the policy she would receive if she sold it to this one large institution that was interested in purchasing the policy. My client was very pleased that she was going to receive $150,000 or 15% of the face value of her $1 million dollar Universal Life policy which she had less than $20,000 of cash surrender value in the policy. She felt this life settlement was like pennies from heaven, and has given her extra peace of mind since her stock portfolio is down.
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