he cost of life insurance has changed drastically. The coupling of longer life expectancies and lower morbidity tables has resulted in some of the lowest premiums in recent history. It is a fact that seniors
are living longer, and insurance costs have been adjusted accordingly. What this means is that many current life insurance polices have become inefficient or outdated when compared to new issues that could be providing larger benefits with less premium.

Life settlements are becoming increasing popular as a exit strategy for seniors looking to shift or lapse their coverage. Life settlements are the transfer of ownership, beneficiary, and all future premium to a third party investor in exchange for a cash settlement. This system provides more that the cash surrender value of whole and universal life policies, but functions no differently than a 1035 exchange. For the seller, the only difference they experience is a much higher dollar amount for ending the coverage. One really exciting prospect with a life settlement is the ability to receive a settlement for a term policy that is going to be lapsed or ended. Term life insurance, normally though of to have no cash value, can be sold for a substantial percentage of the face amount, instead of lapsing the coverage for a total loss.

Most people who are hesitant to look into a life settlement are concerned about the impact on their
inheritance. Most people who buy life insurance have other family members or interests in mind while they struggle with the overbearing cost of large life insurance policy. However, the new ease of being reissued a much more manageable policy that will still cover their beneficiaries’ interests, and the possibility of receiving a substantial dollar amount on their current policy to use in enriching their own lives, is why the
life settlement industry has doubled in the last three years. http://www.TrinityFinancialLLC.com can provide more information on how the Life Settlement process works and evaluate on your current insurance situation.

bio = Please contact Troy Kimmel at 1-888-973-8377 or web@trinityfinancialllc.com. Troy is a life settlement broker as well as a licensed insurance agent. He can provide life settlement quotes for both consumers and insurance agents and financial professionals. For more information. Please visit http://www.trinityfinancialllc.com.

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This entry was posted on Thursday, February 23rd, 2006 at 10:51 am and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.