Senior life settlement policies are very attractive to the life settlement funders. Life funders are the institutions that buy these policies in return for the complete rights to the policy. The insured/owner gives up the rights to cash value and the death benefit for an agreed upon price. Thus, the policy does stay in force for the duration of the insured’s lifetime. The older you are or the shorter your life expectancy is, the higher the net present value of your policy becomes. Senior life settlement policies do not have to be tied to an age in order to be categorized as such, but more important is the life expectancy report. I have experienced that younger aged individuals that have had medical events that have reduced life expectancy from a statistical standpoint, become as attractive for purchase as one would anticipate on an older aged insured’s policy. When combining the internal rates of return on the policy itself, from a particular point in time, with the life expectancy report, a value of the policy can be assessed. Senior life settlement policies could then be categorized perhaps according to duration of life expectancy. All of this may sound rather cumbersome, but when you think about selling an asset of a different kind you look at cost and the duration to hold for profit. So if you hire the right person to answer the value question, expect that you will be providing good and complete personal information to come to the right figure.
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