|
Texas Life Settlement A life settlement can be advantageous to those seniors that no longer need or can afford the ongoing costs of maintaining their life insurance policy. A Texas life settlement is a way to gain access to a lump sum of cash. If you are a senior in Texas and searching for a life settlement, consider working with those companies that provide more options. The life settlement industry in Texas 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.
If you are currently evaluating a life settlement in Texas, you should consider those companies that have the reputation of putting their clients financial interests ahead of their own. A Texas life settlement company may provide more options through a competitive bid process. A competitive bid process consists of shopping a life insurance policy through a network of institutional buyers in the secondary market. By shopping your life insurance policy through the secondary markets, it may give you a better chance of securing a larger cash amount for your policy. Another important factor when evaluating a life settlement company is their ability to negotiate the highest cash value for a policy. The qualifications for a Texas senior life settlement may vary depending upon the 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
Below is a list of the different life settlements in Texas that can be shopped in the secondary market:
Some of the financial professionals throughout Texas that recommend life settlements to their senior clients may include:
- Financial Planners
- Financial Advisors
- Accountants and CPA's
- Life insurance Brokers and Agents
- Estate Planning Professionals
- Tax Attorneys & Lawyers
A life settlement company or broker doing business in Texas should pay the expense of ordering medical and life expectancy records for each senior applicant. A Texas life settlement company should also assume the costs of processing, packaging and sending the documentation on behalf of their client. Whether the company is working with their senior client, family member or financial professional, they should always take on the expenses associated with a life settlement transaction.
Some of the different reasons why seniors secure life settlements in Texas include:
- High premium payments
- Medical expenses
- Charity Donation
- Policy owner has outlived the beneficiary
- Estate size has changed
- Long-term care
- Assistant living & retirement home expense
- Family members need the money
- Falling into debt or bankruptcy
- Provides money for other investment opportunity
- Policy more valuable on the secondary market
Texas life insurance settlements have different qualifications and requirements than a Texas viatical settlement.
Please Note: Life insurance companies do very little educating seniors the benefits of a life settlement. Insurance companies have always made profits on lapsed policies and it's in their financial interest not to educate consumers this option exists. 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 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.
Below we have listed the areas throughout Texas that have a high population of seniors: Abilene, Addison, Alice, Allen, Alvin, Amarillo, Angleton, Arlington, Athens, Bastrop, Bay City, Baytown, Beaumont, Bedford, Bellaire, Belton, Big Spring, Boerne, Bonham, Borger, Brenham, Brownsville, Brownwood, Bryan, Burleson, Canyon, Carrollton, Carthage, Center, Cleburne, College Station, Conroe, Coppell, Corpus Christi, Corsicana, Cypress, Daingerfield, Dallas, Decatur, Del Rio, Denison, Denton, Desoto, Dickinson, Dripping Springs, Duncanville, Eagle Pass, Edinburg, El Campo, El Paso, Flower Mound, Fort Worth, Fredericksburg, Friendswood, Frisco, Gainesville, Galveston, Garland, Georgetown, Gilmer, Gonzales, Graham, Grand Prairie, Grapevine, Greenville, Haltom City, Harlingen, Henderson, Hillsboro, Houston, Humble, Huntsville, Hurst, Irving, Jacksonville, Jasper, Katy, Kaufman, Kilgore, Killeen, Kingwood, Lake Jackson, Lamesa, Laredo, League City, Lewisville, Liberty, Livingston, Longview, Lubbock, Lufkin, Mansfield, Marble Falls, Marshall, Mc Kinney, McAllen, Mesquite, Midland Wells, Mission, Montgomery, Mount Pleasant, Nacogdoches, New Braunfels, North Richland Hills, Odessa, Orange, Palestine, Pampa, Paris, Pasadena, Pearland, Plainview, Plano, Port Arthur, Port Lavaca, Richardson, Richmond, Rockport, Rockwall, Round Rock, Rowlett, San Angelo, San Antonio, San Marcos, Seguin, Sherman, South Padre Island, Southlake Spring, Stafford, Stephenville, Sugar Land, Sulphur Springs, Sweetwater, Temple, Terrell, Texarkana, Texas City, Tomball, Tyler, Universal City, Uvalde, Victoria, Waco, Waxahachie, Weatherford, Webster, Weslaco, Wharton, Wichita Falls and Woodway.
Ideal Settlements
Ideal Settlements currently works with over 50 institutional buyers that bid on the life insurance policies of our customers. Ideal is 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 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. 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. The life settlement industry in Texas 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
|