A life expectancy report is a very critical and important piece to the settlement of any life insurance policy. If you are interested in finding out what your policy is worth all of the funders that purchase life insurance policies in the secondary market will require several of these reports from approved institutions that provide this service. A life expectancy report is derived from the medical records of the insured and in some cases a current medical exam performed on the insured. A disclosure form releasing these records to the funders will be needed from the insured to start this process. The life expectancy report is a probability calculation that the insured, based on his or her medical history and condition, will live for a specific period of time. This information along with the policy’s internal cost structures will provide the information to the funders to arrive at the net present value of your policy for settlement purposes. A report illustrating an expectancy of less than a 24 month period will categorize the settlement as a viatical and longer than a 24 month period as a life settlement. In order to find out what your policy is worth I advise hiring an agent/advisor to help you compile the information needed in a proper form to submit your policy to the correct funders. The calculated duration or probability that you will live for a specific period of time as mentioned above is a very important report and at a minimum you should know the value of your policy and what your expectancy of life is in relationship to a settlement offer. Find out what your report will yield.
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