Alternative 1: The Retained Benefit Life Settlement is an important option for Policy Owners who want to provide some death benefit without paying any more premiums. If immediate cash is also desired, the benefit would be reduced. Funders do their best to meet the Policy Owner’s goals. Qualifications are the same as with traditional Life Settlements: minimum age 60, maximum lifespan 23 years, and smallest policy $100,000. Not all Funders offer Retained Benefit Life Settlements but our company works with the ones who do.
Alternative 2: The unique Long-Term Care Life Settlement has no age limits and accepts policies as small as $10,000. The Insured must be receiving some form of licensed Long-Term Care or may need some within 90 days, including but not limited to In-Home Nursing/Health Care, Assisted Living, Alzheimer’s/Memory Care, Skilled Nursing Facility, and Hospice Care. The Funder buys the policy, pays premiums, and converts part of the death benefit to a trusteed tax-exempt Long-Term Care Benefit Account which has no exclusion periods or contractual payout limitations. There will always be a Final Expense Benefit even if the LTC Account has been exhausted. The transaction is Medicaid-compliant and tax-exempt. Read more at Long-Term Care Life Settlements.