In this three-part series, we identify conditions that may impact your Life Settlement.
Part 1: In part 1 we cover 12 issues with the life insurance policy itself. These issues include the Term Conversion deadline, Grace Period, Lapsation, and types of life insurance.
Part Two: Discusses 5 typical issues involving the Insured and/or the Policy Owner
Part Three: Reviews 3 common concerns with the carrier (life insurance company).
Issue #1: The Term Conversion deadline
Life Settlement Providers prefer buying Convertible Term life insurance policies more than all other types of life insurance combined. Providers need to submit conversion paperwork before the policy’s contractual deadline.