Coming soon.
Policy Settlement
"If you go the life-settlement route, start with an estimate of the policy's market value. You can use the free tool (LIVEpdq) at policysettlement.com, which is run by Norman Hood." - Kiplinger's Retirement Report. July 2008.
LIFE SETTLEMENT INDUSTRY EXAMPLE
MALE - Age 67
$455,000 Universal Life
- $14,731 Annual Premium
Life Insurance Settlement Amount of $179,000
A closely held company had continued a key man policy to cover a note to a former shareholder for the purchase of his stock upon retirement.
After reading an article about the life settlement industry they sold the policy and eliminated the ongoing premium costs.
The life settlement proceeds were then used to pay off the retiree and relieve the company of further debt payments.