The health profile for traditional Life Settlements is identical to Retained Benefit Life Settlements: the minimum age is 60, maximum lifespan 23 years, and smallest policy $100,000. American Life Settlements always asks for Life Settlement bids for Insureds with this profile as there are fewer Funders who will transact Retained Benefit Life Settlements.
To qualify for the Long-Term Care Life Settlement, the Insured would have to be receiving licensed Long-Term Care or might need some within 90 days. These services could include but not be limited to In-Home Nursing/Health Care, Assisted Living, Alzheimer’s/Memory Care, Skilled Nursing Facility, and Hospice Care. Even if the LTC Account has been used up, there will always be a Final Expense Benefit. These transactions are Medicaid-compliant and tax-exempt.