WHAT WE OFFER
Sell a Policy, Program 1:
More people have received a Life Settlement than the 5 other Programs combined since this Industry’s inception in 1989. The Policy Owner sells the policy and receives a lump-sum payment. The minimum age is 60, $100,000 is the smallest policy, and the maximum lifespan is 23 years. American Life Settlements will find out how many other Programs might work so the Policy Owner can make the best decisions
Sell a Policy, Program 2:
The Retained Benefit Life Settlement can provide some cash up front, with the Funder paying premiums and sharing a specified amount of death benefit with the beneficiary . The Owner may forgo the immediate cash to maximize the benefit. The minimum age is 60, $100,000 is the smallest policy, and the maximum lifespan is 23 years
Sell a Policy, Program 3:
For this unique form of Life Settlement, the Insured must be receiving some kind of licensed Long-Term Care or will need some within 90 days. The Owner sells the policy, of which the Funder converts a portion to a Long-Term Care Benefit Account that pays licensed Providers of Long-Term Care. The funder pays the premiums. The beneficiary receives any unused Account balance in addition to a separate Final Expense Benefit even if the LTC Account has been used up. There are no age limits and $10,000 is the smallest policy. This transaction is configured as a Medicaid Qualified Spend-Down and is tax-exempt.
Sell a Policy, Program 4:
With a Viatical Settlement, the Owner sells a policy and receives a lump-sum payment. The transaction becomes a tax-exempt Viatical Settlement when the Insured obtains a HIPAA 2-Year certification from an attending physician. Without the HIPAA Letter, the Insured’s lifespan could be up to 5 years and there would be no tax exemption. The minimum age is 30 and the smallest policy is $50,000.
Sell a Policy, Program 5:
With a tax-exempt Private Policy Loan, the Owner receives the loan, has no costs, and the loan is never repaid. This is a third-party loan using only the death benefit as collateral. The Lender pays premiums, defers interest, and the net death benefit goes to the beneficiary after the Lender’s costs have been deducted. If the Insured outlives the Loan Term, the Owner signs away the remaining death benefit and the Loan is canceled. The minimum age is 60, $100,000 is the smallest policy, and 2 years is the maximum lifespan. Unlike a Viatical Settlement, no HIPAA Letter is required.
Sell a Policy, Program 6:
This is a HIPAA-created option found in many life insurance policies. The Owner files a claim with the carrier and provides medical information as required. If the claim is approved, a portion of the death benefit is sent to the Owner in the form of a loan, collateralized only by the policy’s death benefit. The Owner must continue premium support and the policy’s death benefit is reduced by loan principal, interest, and fees. The beneficiary receives the net death benefit after the carrier deducts costs. The transaction is tax-exempt. The remaining policy might qualify for some or all of the 5 other Programs.
Not sure where to start?
Many options can lead to confusion. Get a quick “this vs that” by checking out our program comparison table to see which options you might be best suited for. Or, get in touch and let us do the heavy lifting.
HOW IT WORKS
WHY WE’RE DIFFERENT
