A life expectancy is one of the components used by life settlement providers to determine the cash sum they are willing to pay for a policy. An individual with a long life expectancy estimate is more of a financial risk for a provider. An independent provider issues a statistical report on an individual, called a life expectancy or mortality report. The report is determined using the client’s medical history, gender, date of birth and smoker status. The report also uses information from the Valuation Basic Table distributed but the Society of Actuaries. The valuation table is created using data from various life insurance carriers.
There are numerous providers in the industry who provide these reports to brokers. The sensitive medical and personal information being reviewed should be handled by trusted individuals who have the know-how and technology available to comply with all HIPAA rules and regulations. Consumers can find reliable and experienced life insurance professionals to help with their life settlement needs at LIVEpdq.