Do you have a policy that you might want to sell?
At Abacus Life Settlements, we understand that seniors like you may have life insurance policies you no longer need, and you want to learn the facts about life settlements from a source you can trust. (See “What is a Life Settlement?”).
More importantly, you want to feel confident that a life settlement is a safe and sensible alternative to policies that are no longer wanted or on the verge of lapsing. And, you want to feel assured that the entity handling your life settlement transaction will have your best interests in mind.
Abacus Life Settlements is committed to providing you with the knowledge you need to make an informed decision, and to handling your case with the confidentiality, transparency, and urgency that it deserves. As one of the nation’s most experienced and respected life settlement funders, we are a direct licensed buyer and are here to personally assist you with each step of the transaction once you make the decision to sell your policy. (See “Learn How Life Settlements Work”)
What motivates seniors to sell their life insurance policies?
While policyholders 65 years of age and older may qualify for a life settlement depending on medical factors and life expectancy, the most common age for life settlement transactions is 78 years of age or older.
Some seniors have found it helpful to understand how their peers arrived at the conclusion that a life settlement was the most advantageous solution for them. If you are like many other seniors, your motivation to learn more about the benefits of life settlements may stem from one of several situations or lifestyle hardships:
• You may be paying expensive premiums for a policy this is no longer needed or affordable.
• Or perhaps you are in need of immediate cash to help pay for medical expenses.
• It’s also likely that your lifestyle needs have simply changed and you are looking to sell your policy to be relieved of premium payments while keeping a portion of the death benefit for your beneficiaries.
Whether you’re seeking a viable exit strategy for a policy that is about to lapse or struggling to find an immediate source of cash for medical or lifestyle expenses, a life settlement (also referred to as senior settlements) may be a sensible option for those who qualify. (See “When to Consider Life Settlements” )
Why haven’t more seniors heard about the benefit of life settlements?
For more than 20 years, seniors have benefited from selling their life insurance policies to institutional investors operating in what is known as “the secondary market for life insurance.” Although still considered relatively new, the good news is that the industry is poised to undergo substantial growth over the next 20 years as millions of baby boomers advance in age, and as more institutional investors respond to market demand.
Yet, in spite of the obvious benefit to seniors, many consumers are still unaware that a life settlement offers a legally viable solution for those who qualify. It’s critical that more seniors are made aware that there may be a financially responsible alternative to surrendering a policy or letting it lapse, and Abacus Settlements is committed to filling the information void.
There is a combination of reasons for the lack of awareness, the most notable of which is that state regulatory initiatives had been slow to enact licensure guidelines for brokers and funders operating in the marketplace. However, the regulatory environment has greatly matured over the past few years and a majority of state governments (42 out of 50) now regulate life settlements.
What’s the next step?
To pre-qualify your life insurance policy, we encourage you to use our confidential Online Qualification Tool. Or, if you prefer to speak with one of our representatives, simply call us at (800)561-4148.
There may be other options other than Life Settlement. Always consult with your Financial and Legal Professionals. Please call us with Life Settlement specific questions.