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New York Life Settlement If you are evaluating a life settlement in New York, begin by contacting Ideal today for a free consultation. Ideal Settlements is an experienced life settlement company that provides services for seniors and financial professionals throughout New York. Our company is dedicated to providing our customers with the highest cash value for life insurance policies through a competitive bidding process.
Ideal works with over 50 institutional buyers that are interested in competing for the purchase of a life insurance policy. 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 our ability to secure higher payouts to our customers. During the New York life settlement process Ideal will always take the necessary steps assuring no information is overlooked and the settlement process runs smooth. If you are evaluating a life settlement in New York, contact Ideal today for a free consultation.
The following are the types of senior life settlements available throughout New York:
When evaluating a life settlement company in New York you should work with those companies or brokers willing to shop your policy with multiple institutional investors. This will give you the best chance of securing the top value for your life insurance policy. The company should also be experienced in negotiating with their buyers during and after a bid has been received. Ideal has the experience in handling life settlement transactions in New York and we have the skill set to negotiate the highest payouts for our clients.
When evaluating life settlement companies doing business in New York consider those companies willing to provide the upfront costs associated with the transaction. A life settlement company or broker should be responsible for paying all costs of ordering medical documents and life expectancy reports for their clients. They must also assume the expense of processing the application, preparing the package and sending the packet to each of their institutional buyers. Whether the company is working directly with the client or with a financial professional, they should take on the full expense of a life settlement transaction. At Ideal we take on all expenses without obligation. If for any reason you decide against a senior life settlement during or after the process, you owe us nothing.
The financial professionals throughout New York that offer life settlements to their clients include:
- Tax Attorneys & Lawyers
- Financial Planners
- Financial Advisors
- Accountants and CPA's
- Life insurance Brokers and Agents
- Estate Planning Professionals
Main reasons why our senior clients in New York choose life settlements 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
If you are currently evaluating a senior life insurance settlement in New York, begin by applying with ideal today. Contact us for a free consultation. We stand ready to assist you in your life settlement transaction.
The qualifications process for a senior life settlement in New York may vary depending upon each buyer; some of the different qualifications a buyer may include:
- Age of 65 years or older is preferred
- A life expectancy of 12 years or less or be terminally ill at the time of the sale
- The face value should be at least $100,000 - no maximum
- Change in health status since the life insurance policy was issued
The life insurance industry does very little informing their clients the benefits of a life settlement. Insurance companies continue making profits year after year due to lapse polices that otherwise could have been sold in the secondary market. If a policy were to lapse the insurance company may not be obligated to pay the death benefits to the beneficiary.
A life insurance settlement in New York is the sale of a life insurance policy for less than the face value of the policy and more than the cash surrender value of the policy. The policy is typically sold in the secondary market at a higher buyout than selling the same policy back to the carrier. A life settlement is a way for a senior to sell their life insurance policy for sum of cash without risking lapsing the policy and owning nothing. Life settlements can be utilized by seniors that no longer need or can afford the ongoing premiums. A New York life settlement has different requirements and qualifications than a viatical settlement in New York. If you are searching for a New York senior life settlement, contact Ideal today. A New York life settlement can provide money to seniors that have a pressing financial need. We have provided a list of areas in New York that have highly populated areas of seniors: Albany, Amityville, Amsterdam, Ardsley, Astoria, Babylon, Baldwin, Bay Shore, Bayside, Bedford, Bellmore, Bethpage, Binghamton, Brentwood, Briarcliff, Brockport, Bronx, Brooklyn, Buffalo, Carle Place, Carmel, Catskill, Cedarhurst, Central Islip, Chappaqua, Chester, Commack, Cooperstown, Corning, Corona, Cortland, East Aurora, East Greenbush, East Hampton, East Islip, Elmhurst, Elmira, Elmont, Fairport, Far Rockaway, Farmingdale, Fishkill, Floral Park, Flushing, Forest Hills, Fredonia, Freeport, Fresh Meadows, Garden City, Geneseo, Geneva, Glen Cove, Glen Head, Glens Falls, Gloversville, Goshen, Grand Island, Great Neck, Hamburg, Harlem, Hauppauge, Hawthorne, Hempstead, Hicksville, Highland, Hudson, Huntington, Islip, Ithaca, Jackson Heights, Jamaica, Jamestown, Jericho, Johnstown, Kingston, Lake Placid, Levittown, Liberty, Lindenhurst, Little Neck, Liverpool, Lockport, Locust Valley, Long Beach, Long Island, Massapequa, Massapequa, Merrick, Mineola, Manhattan, Monticello, New Hyde Park, New Paltz, New Rochelle, New Windsor, New York City, Newburgh, Niagara Falls, North Babylon, Northport, Oceanside, Ogdensburg, Orchard Park, Oswego, Oyster Bay, Patchogue, Peekskill, Pelham, Pittsford, Plainview, Pleasantville, Pomona, Port Chester, Port Jefferson, Port Jervis, Port Washington, Poughkeepsie, , Queens, Ridgewood, Riverhead, Rochester, Rockville, Rome, Ronkonkoma, Roslyn, Smithtown, Southampton, Staten Island, Stony Brook, Suffern, Syosset, Syracuse, Uniondale, Utica, Wantagh, West Babylon, West Harrison, West Hempstead, West Islip, Westbury, Westhampton, White Plains, Whitestone, Woodbury, Woodhaven, Woodmere and Yonkers. The life settlement industry in New York 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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