Georgia Life Settlement
If you are a senior in Georgia and have an unwanted or unaffordable life insurance policy you may be searching for a Georgia life settlement. The life settlement industry in Georgia is regulated and in order to provide a life settlement transaction in the state of Georgia you must be licensed. A Georgia life settlement can be advantageous for those seniors that are no longer in the financial position to continue paying premiums on their policy.
Seniors may choose a life settlement in Georgia for several reasons which include:
- Eliminate high premium payments
- Policy is about to lapse
- Alternative investments opportunities
- Money needed for medical expenses and/or long-term care
- Need cash to help pay for living expenses in a retirement home or community
- Children in need of money now and not later
- Donating money to a charitable organization
- You have outlived the beneficiary
- Estate size has changed
- Coverage is no longer needed
When evaluating a life settlement in Georgia, there are few items that should be considered:
A life settlement company or broker should be willing to pay all up-front costs associated with ordering life expectancy reports and medical reports. A company or broker should also pay all costs associated with processing, packaging and sending out documents on behalf of your client. The life settlement company or broker should always make it easy and affordable for financial professionals and attorneys that are searching for life settlements for their clients. This life settlement process should come without obligation meaning if you decide at anytime you are no longer interested in a senior life insurance settlement; you should not have to reimburse the company.
When searching for an experienced life settlement company that handles transactions in Georgia you should work with those companies that offer more options. The company should be willing to shop your life insurance policy to dozens of institutional buyers. This will assure that you or your client is getting the best value for the sale of your life insurance policy. They must also be ready to negotiate with the lender during and after offers have been received.
Below are a few examples of the different financial professionals that work with life settlement companies and brokers:
- Attorneys & Lawyers
- Financial Planners
- Financial Advisers
- Accountants and CPA's
- Life insurance Brokers and Agents
- Estate Planners
- Tax Attorneys
- Financial Professionals representing seniors
More Georgia seniors are choosing to sell their life insurance policy because they are no longer in the financial position to pay the ongoing premiums for their policy. They may also decide to secure a life settlement because their policy is about to lapse or they have outlived the beneficiary assigned to the life insurance policy. Life insurance companies do very little educating seniors that life settlements are available in Georgia. In fact, insurance companies benefit from lapsed polices because they are no longer obligated to pay death benefits to the beneficiary.
Below is a list of some of life insurance policies that an institutional investor would consider purchasing:
The qualifications for a life settlement in Georgia may vary depending upon life settlement institution:
- The face value of the policy should be $100,000 or more - there should be no maximum face value
- Policyholder must have a life expectancy of 12 years or less.
- There must be a change in health status since the policy was issued
- Typically over the age of 65
A Georgia life insurance settlement has different requirements than a Georgia viatical settlement.
About Ideal
Ideal Settlements is an experienced life settlement firm that works with clients that are interested in selling their life insurance policy. We are a client centric company that puts the financial and long-term needs ahead of our own. A testament to a job well done is our ability to acquire the majority of our customers from financial professionals and past clients. Ideal Settlements takes all the necessary steps throughout the life settlement process assuring each client the most competitive buyouts for their life insurance policy.
A life settlement is an option that many seniors throughout Georgia are now considering. If you are a senior living in Georgia and considering a senior life insurance settlement only consider those companies that provide the best services and highest payouts for your life insurance policy. Ideal has provided a list of areas throughout Georgia which have the highest population of senior residents: Albany, Alpharetta, Americus, Athens, Atlanta, Augusta, Bainbridge, Blue Ridge, Brunswick, Buford, Calhoun, Canton, Carrollton, Cartersville, Cedartown, Clarkesville, Columbus, Conyers, Cordele, Cornelia, Covington, Cumming, Dallas, Dalton, Decatur, Douglas, Douglasville, Dublin, Duluth, Eatonton, Elberton, Ellijay, Fayetteville, Forsyth, Fort Benning, Gainesville, Griffin, Hinesville, Jasper, Jonesboro, Kennesaw, La Fayette, Lagrange, Lawrenceville, Lilburn, Lithonia, Macon, Madison, Marietta, McDonough, Milledgeville, Monroe, Moultrie, Newnan, Norcross, Peachtree City, Perry, Richmond Hill, Ringgold, Rome, Rossville, Roswell, Saint Marys, Saint Simons Island, Savannah, Smyrna, Snellville, Statesboro, Stockbridge, Stone Mountain, Swainsboro, Thomaston, Thomasville, Thomson, Tifton, Toccoa, Tucker, Valdosta, Vidalia, Warner Robins, Watkinsville, Waycross, Winder and Woodstock.
The life settlement industry in Georgia is regulated to protect the financial well being of seniors. A life settlement transaction can only take place if the company or broker has proper licenses within the state. As regulations can change within each state, Ideal may not be able to complete a viatical or life settlement transaction in some states. Please contact us for more information. Copyright 2009 © Ideal Settlements
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