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Survivorship Life Settlement
If you are considering a life settlement for a survivorship life insurance policy, Ideal Settlements wants to work for you. Ideal Settlements can work with policyholders, family members and financial professionals who share the same core values as our company. We are dedicated to providing our clients with the highest payouts, best customer support and the willingness to go the extra mile for each client. Ideal Settlements provides the up-front costs associated with ordering medical and life expectancy reports, administering and processing applications and sending out client packages to over 50 institutional lenders all willing to compete for your business. If you have a survivorship life insurance policy and searching for a life settlement company, contact Ideal Settlements today.
What is Survivorship Life Insurance?
A Survivorship Life Insurance policy, also referred to as joint survivorship or second to die, are policies that cover the lives of two people. These types of polices are most often utilized by a husband and wife. The beneficiary will not receive the death benefit from the policies until the death of the second person. Joint Survivorship polices are oftentimes used by wealthy individuals as a tool to pay or assist in paying estate taxes. Joint Survivorship policies can also serve as a way to delay estate taxes until the second individual dies. It is recommended that if you are considering joint survivorship insurance to work closely with a financial professional that has experience in the benefits of survivorship insurance policies.
Need for Joint Survivorship Insurance
A joint survivorship policy is oftentimes utilized by couples with children. A couple may decide to secure a joint survivorship policy due to a catastrophic accident which leaves a child paralyzed. It is can also serve as a financial security blanket to couples that have a child with special needs or a disability. The money can be set aside for the ongoing care for the child.
Joint Survivorship Life Settlements
Ideal Settlements understand that some seniors are forced into decisions based upon their current financial needs. While selling a life insurance policy may not be the ideal situation, it certainly can be a viable option. If you are a policyholder of a joint survivorship insurance policy and considering the sale of your policy, Ideal can work for you. The majority of policyholders are unaware that life settlements exist. Many seniors believe if they no longer can afford the premiums or no longer need the policy the only alternative is to either stop paying premiums or sell the insurance policy back to the insurer.
A life settlement is a much better option because of the value of survivorship life insurance policies in the secondary market. The value of a survivorship policy in the secondary market far exceeds the payout you would ever get selling it back to the insurance company.
Minimum requirements for qualifying for a survivorship life settlement - The Face Value should be $100,000 or more - there are no maximums
- Desirable age of 65 years or older
- A change of health since the policy was issued
- Life expectancy of 12 years or less
If you are evaluating a joint survivorship life settlement and are terminally ill please visit our viatical settlement page. The requirements for a viatical settlement are different than those requirements of a senior life settlement.
Working with Ideal Settlements
Ideal Settlements is able to work with the policyholder, beneficiary, family members and an array of different financial professionals. Below is a short list of some of the different financial individuals we can work with at this time:
- Lawyers & Tax Attorneys
- Financial Planners
- Financial Advisors
- Accountants
- Certified Public Accountants (CPA's)
- Life insurance Brokers & Agents
- Estate Planners
- All Other Financial Professionals Representing Seniors
If you are considering a life settlement for a joint survivorship insurance policy, begin by contacting Ideal today. If you need additional information on joint survivorship life settlements in your respected state please follow the links: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming and the District of Columbia D.C.
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