A senior life settlement covers three different markets. The first of which is a life settlement agreement which targets seniors from the age of 65 or older. The second is viatical life settlements which targets severely ill policy owners. Lastly, there is a sub market of the life settlement agreement which is referred to as the life settlement auction.
A senior life settlement uses special brokers to buy and sell life insurance cases. These life insurance policies are typically no longer useful to the policy owners. Typically the policyholder can hire multiple brokers to seek out willing third party investors.
Senior life settlement proceeds can be used in any manner that the policy holder wants. Since the proceeds are treated as revenue there may be some tax implications involved with each sale. It would be best to check with an accountant, which some life settlement companies will offer as part of their services. For a free policy review visit our LIVEpdq link today!