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| It is our pledge at National Eldercare Alliance to take care of our members as if they were our own family. If we feel a service or facility wouldn't be worthy for our own parents or family, then we won't recommend them to you either. |
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Welcome Shriners |
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ARTICLE : What is a Life Settlement?
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 A life Settlement is the sale of a life insurance policy where the insured is 65 years of age or older and does not have a terminal or chronic illness. In a Life Settlement transaction the owner of the policy always receives more for the policy than the issuing insurance company will pay for the surrender of the policy.
Why should a policy owner consider a Life Settlement Transaction?
 If a policy owner has a life insurance policy insuring the life of a person over the age of 65 that is no longer needed or wanted or that is no longer affordable, the policy owner may be able to receive substantially more for such a policy by selling it in a Life Settlement transaction than merely surrendering the policy of letting it lapse. Not every policy will qualify for a life settlement, and other options may work better in particular circumstances, but every policy owner should look into the life settlement option before terminating a policy.
Reasons for considering a Life Settlement
Financial Reasons
- Funding a long term care stay
- Policy premium is no longer affordable
- Pay off debt
- Purchase a large asset
- Invest in another investment
- Donation to a favorite charity
- A change in estate tax laws
Personal Reasons
- Fund a dream vacation
- Fund a new house
- Gift to a relative
- Prepay college expenses for a relative
- Retirement
- Lifestyle enhancement
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