Life Settlement

Some clients have life insurance policies, term and whole life, that no longer serves the purpose for what the original intention was when such policies where purchased. Although individual cases will vary, current life insurance policies should be appraised for fair market value for anyone over the age of sixty-five. Life Settlement is a powerful option for trusts, corporations and individuals who have poorly performing or thinly funded policies insuring seniors. Ideal candidates for life settlements are high net worth individuals age 65 and older with a life insurance policy with a face amount of at least $250,000, has a life expectancy of 15 years or less and have had a change in their insurability since the policy was issued. Funds generated by the sale of these life insurance policies can then be used to fund charitable Trust of Gift, replenish monies lost in the stock market, pay for treatments not covered by health insurance, or fund annuities or other investments. Southern Financial Services will guide you through this process and give straightforward information to help you determine if such a program is right for you.

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