Age
86
Gender: Male
Type: Term Policy
Face Value: $3,000,000
Cash Surrender Value: $0 Life
Settlement Amount: $1,175,000
Policy
was initially bought to cover taxes on
an estate plan that had since become obsolete.
Age
85
Gender: Female
Type: Universal Life Policy
Face Value: $600,000
Cash Surrender Value: $160,000 Life Settlement Amount:
$245,000
Because
of the drop in interest rates, the policy’s
performance would have caused a lapse had
it been kept in force. The proceeds were
used to purchase a lifetime income stream
annuity.
Age
75
Gender: Female
Type: Universal Life Policy
Face Value: $7,000,000
Cash Surrender Value: 1,250,000 Life
Settlement Amount: $2,900,000
A
less expensive, more suitable survivorship
policy, with a guaranteed death benefit
was purchased with the proceeds of the
life settlement.
Age
69
Gender: Female
Type: Term Policy
Face Value $600,000
Cash Surrender Value: $0 Life
Settlement Amount: $94,280
With
the proceeds from her life settlement,
the client was able to purchase long term
care insurance AND a new condo.
Age
75
Gender: Male
Type: Universal Life
Face Value: $4,100,000
Cash Surrender Value: $280,000 Life Settlement amount:
$975,000
Proceeds
from life settlement were used to “pay
down” future premiums on a new policy
with a guaranteed death benefit.
Age
81
Gender: Male
Type: Term Policy (convertible)
Face Value: $6,000,000
Cash Surrender Value: $0 Life Settlement Amount:
$661,000
After
the sale of his business, the bank no longer
required the key man policy on the client’s
life.
Age
76
Gender: Male
Type: Universal Life
Face Value: $7,000,000
Cash Surrender Value: $659,000 Life Settlement Amount:
$1,900,000
The
client outlived his wife, for whom the
benefit of the policy was originally intended.
Age
79
Gender: Female
Type: Term Policy
Face Value: $1,500,000
Cash Surrender Value: $0 Life Settlement Amount:
$300,000
No
longer wanting to pay expensive premiums,
the client and her children traded in payments
for a lump sum of cash.
Age
76
Gender: Male
Type: Universal Life Policy
Face Value: $10,000,000
Cash Surrender Value: $449,000 Life Settlement Amount:
$2,700,000
Policy
was no longer needed for estate purposes.
Furthermore, as the client’s beneficiaries
were all financially secure, the policy
was unneeded.
