Corliss Law Group 4 Cases On How Life Settlements Have Bounced Back

Submitted By earlst3wart
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Corliss Law Group 4 Cases on how life settlements have bounced back
We’ve repeatedly said that the life settlement market has improved substantially this year. But the best way to illustrate that is to share the details of some recent cases with you. 1. $3 million Survivorship UL, wife deceased, male age 90: The policy was originally bought for estate taxes, which due to the American Taxpayer Relief Act (ATRA) of 2012, were no longer a problem for this client. We shopped the policy last year and got an offer of $700,000, but the client decided he would try to maintain the policy. This year he came back to us because he had trouble coming up with the premium payments.
Though his life expectancy decreased by only 4 months, a year later we were able to get him $815,000 for the policy, which had a cash surrender value of $246,000. He was thrilled! 2. $2 million U.L. on female, age 79, with relatively modest health impairments: Life expectancies obtained were 122, 142, and 129 months. The policy had only $43,000 in cash surrender value and the client could no longer afford the premiums. The client received $131,000 in a life settlement.
3. $500,000 U.L. policy on a male, age 90: The family was running out of money to pay for his long term care in a nursing home. His life expectancies were 36, 36 and 48 months. The client received $217,000 for a policy with no cash surrender value, which gave everyone comfort that he would be able to continue to receive care at