|
New Jersey Life Settlement
New Jersey life settlements have become popular over the last several years because they yield a higher cash value than selling the policy back to the insurance carrier. A life settlement in New Jersey is the sale of a senior life insurance policy for less than the face value but more than the cash surrender value of a policy. A Life settlement is a way for a senior to sell their existing life insurance policy for a lump sum of cash.
If you are currently evaluating a senior life insurance settlement in New Jersey consider those companies willing to shop your lpolicy through a network of multiple funding sources. This will provide the policyholder with a better chance of securing the largest cash value for the purchase of the policy. A company should also have experience negotiating the highest cash value for the policy; a company can negotiate a life settlement during and after bids have been received.
Some of the different life settlements provided to seniors in New Jersey include: The life settlement industry in New Jersey is regulated to protect the financial well beings of seniors. A life settlement transaction can only take place if the company or broker has proper licenses within the state.
A life settlement broker should be responsible for paying the costs of ordering medical records and life expectancy records for each senior client. They should also assume the expense of processing, preparing, packaging and sending out the packet on behalf of the client. Whether the company is working directly with the client, family member or financial professional, the company should always take on the costs associated with a life settlement transaction.
Some of the financial professionals throughout New Jersey that recommend life settlements to their senior clients include:
- Tax Attorneys & Lawyers
- Financial Planners
- Financial Advisors
- Accountants and CPA's
- Life insurance Brokers and Agents
- Estate Planning Professionals
Life insurance companies do little informing seniors the benefits of a life settlement. Insurance companies have always made profits on lapsed policies. If a policy lapses for any reason, there is a chance the insurance company will not pay the death benefits to the beneficiary at the time of death. If you no longer can afford the life insurance premiums on a policy you may consider selling your policy back to the insurance carrier that issued the policy. The other alternative is having your policy shopped in the secondary market for a larger payout than the surrender value.
A life settlement can be beneficial for those seniors that no longer need or can afford the ongoing premiums on the policy. A New Jersey life settlement is a way to gain access to a lump sum of cash without having to borrow or deplete your life savings or investments. If you are currently evaluating a life settlement in New Jersey, you should only consider those companies that will put your financial interests ahead of their own.
Some of the different reasons why seniors secure life settlements in New Jersey include:
- Eliminates high premium payments
- Medical expenses & ongoing medical expenses
- Charity
- Policyholder has outlived the beneficiary
- Estate size has changed
- Long-term care
- Assistant living & retirement home costs
- Family members need the money
- Falling into debt or bankruptcy
- Provides money for other investment opportunity
- Payout is much higher than selling the policy back to the insurance carrier
The qualifications for a New Jersey senior settlement will vary depending upon buyer; some of the qualifications may include:
- Age of 65 years or older is preferred
- A life expectancy of 12 years or less or is terminally ill
- Face value should be at least $100,000 - no maximum on a policy
- Change in health status since the life insurance policy was issued
About Ideal Settlements
Ideal Settlements is an experienced life settlement company that works with seniors interested in selling their life insurance policy in the secondary markets through a competitive bid process. We put each policy in front of multiple institutional buyers assuring our clients the most competitive buyouts for their policies. Ideal works with over 50 institutional buyers that bid on the life insurance policies of our customers. We are a client centric company that puts the financial needs of our customers ahead of our own. The majority of our customers come from financial professionals and past clients; this is a testament to providing the highest payouts for our customers. Ideal Settlements is dedicated to providing client centric services and higher purchases for our clients regardless of the size of a policy. The company always takes the necessary steps throughout a life settlement process, assuring no information is overlooked and the process runs smoothly. While we focus on providing a great service for each client, our main goal is getting the highest cash value for a life insurance policy.
A New Jersey life settlement can be advantageous to seniors that have pressing financial obligations and need immediate assistance. Below we have listed the areas throughout New Jersey that have a high population of senior citizens: Absecon, Allendale, Asbury Park, Atlantic City, Audubon, Basking Ridge, Bayonne, Beach Haven, Bedminster, Belle Mead, Belleville, Bellmawr, Belmar, Berkeley Heights, Bernardsville, Blackwood, Bloomfield, Boonton, Bordentown, Brick, Bridgeton, Bridgewater, Brielle, Budd Lake, Burlington, Butler, Caldwell, Camden, Cape May, Court House, Cedar Grove, Cedar Knolls, Chatham, Cherry Hill, Chester, Clark, Clementon, Cliffside Park, Clifton, Clinton, Collingswood, Cranbury, Cranford, Denville, Dover, East Brunswick, East Hanover, East Orange, East Rutherford, Eatontown, Edison, Elizabeth, Elmwood Park, Englewood, Englewood Cliffs, Englishtown, Fair Lawn, Fairfield, Far Hills, Flanders, Flemington, Florham Park, Forked River, Fort Lee, Franklin, Lakes, Freehold, Garfield, Gibbsboro, Glen Rock, Hackensack, Hackettstown, Haddon Heights, Haddonfield, Haledon, Hammonton, Hasbrouck Heights, Hawthorne, Hazlet, Highland Park, Hightstown, Hoboken, Holmdel, Howell, Irvington, Iselin, Jackson, Jersey City, Kearny, Kendall Park, Lakewood, Lambertville, Lebanon, Liberty Corner, Linden, Linwood, Little Falls, Little Silver, Livingston, Long Branch, Lyndhurst, Madison, Mahwah, Manahawkin, Manasquan, Maple Shade, Maplewood, Margate City, Marlboro, Marlton, Matawan, Medford, Merchantville, Metuchen, Middlesex, Middletown, Midland Park, Millburn, Millville, Monroe Township, Montclair, Montvale, Montville, Moorestown, Morganville, Morris Plains, Morristown, Mount Holly, Mount Laurel, Mountainside, Neptune, New Brunswick, New Providence, Newark, Newton, North Bergen, North Brunswick, Northfield, Nutley, Oakhurst, Oaklyn, Ocean City, Old Bridge, Oradell, Orange, Paramus, Park Ridge, Parsippany, Passaic, Paterson, Pennington, Pennsville, Perth Amboy, Phillipsburg, Piscataway, Plainfield, Plainsboro, Pleasantville, Point Pleasant Beach, Pompton Plains, Princeton, Princeton Junction, Rahway, Ramsey, Randolph, Raritan, Red Bank, Ridgefield Park, Ridgewood, River Edge, Riverdale, Riverside, Riverton, Rochelle Park, , , Roseland, Rutherford, Saddle Brook, Saddle River, Salem, Scotch Plains, Sea Girt, Secaucus, Short Hills, Shrewsbury, Skillman, Somers Point, Somerville, South Orange, South Plainfield, South River, Sparta, Spring Lake, Springfield, Succasunna, Summit, Teaneck, TenaflyToms River, Totowa, Trenton, Turnersville, Union City, Ventnor City, Verona, Vineland, Voorhees, Warren, Washington, Washington Township, Wayne, West Berlin, West Long Branch, West New York, West Orange, Westfield, Westwood, Whippany, Whitehouse Station, Wildwood, WilliamstownWillingboro, Woodbridge, Woodbury, Woodcliff Lake, Woodstown and Wyckoff.
New Jersey life insurance settlements have different qualifications and requirements than a New Jersey viatical settlement. The life settlement industry in New Jersey 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
|