Nebraska Life Settlement Information
Nebraska Seniors are now able to take advantage of Life Settlements...
Life Settlements, also referred to as a Life Insurance Settlement or Life Settlement, is the sale of a life insurance policy that is no longer wanted, needed or affordable to a third party for an amount greater than the cash surrender value. A good candidate typically is an individual who is 65 years or older.
Many times, an insured cannot afford their premiums and are in danger of having their policy lapse, or simply settle for the cash surrender value. Some insureds may no longer have any reason for their coverage but continue to pay premiums for no reason. Other times, people have a large policy and they no longer need that much insurance. Now, Nebraska seniors can explore the option of an exit strategy that is greater than their cash surrender value, and can produce a large cash settlement.
This secondary market for insurance contracts has evolved into an innovative, creative and efficient way to create wealth.
Qualifying for a Life Settlement is a no cost and no obligation procedure. Almost all life insurance policy types qualify. The policy (coverage) must have a minimum face amount of at least $100,000, and the policy must have been in force for a minimum of two years.
The following are the types of policies that can qualify for a life settlement:
- Term
- Universal life
- Whole life
- Survivorship
- Key Man or COLI (Corporate Owned Life Insurance)
- Group life insurance (provided it is convertible)
Policy can be owned by:
- An individual
- A trust
- A corporation
- A charitable organization
The application process is easy and just requires information about your location, insurance policy, and medical information. You do not have to complete a medical exam, and there is no cost required to find out if you qualify. Also, you do not have to reside in Nebraska to qualify.
Life Settlement Services are offered throughout Nebraska including, but not limited to: Omaha, Lincoln, Bellevue, Grand Island, Kearney, Fremont, Hastings, North Platte, Norfolk, Columbus, and all of Nebraska.
Life Settlements are also available throughout the United States, depending upon state-specific licensing requirements.
