Life Settlement Transaction

Life insurance policies that are no longer needed or wanted can be sold for significant cash settlements through a Life Settlement transaction. Most people do not know that there is a healthy secondary market for life insurance policies that individuals no longer need or want.

A Life Settlement is the sale of an existing life insurance policy to a third party for cash. A successful Life Settlement will always pay you substantially more than the cash value of the policy.

Question: So how long does the Life Settlement Transaction take?

Answer: The Life Settlement process can take anywhere from 4-8 weeks to complete. Depending on the amount of information provided by the client, including medical records and illustrations, offers can be received within 2 weeks. However obtaining medical records, trust information, inforce illustrations and more can slow the transaction. After an offer is accepted and contracts are completed, the life insurance carrier will usually make the changes within 7-10 business days. A life settlement broker can assist with obtaining all the needed information, and also assist with all closing documentation.

Call 1-888-973-8377 to speak with Life Settlement

Some Life Settlement Help Links:
Life Settlement Info
Life Settlement Information
Life Settlement Auctions

Small Face Value Life Settlements

Small Face Policy Program is no ready to go. RTG Consultants can now assist with your lower face value life insurance policies. If you have a term insurance policy you can sell that too! (As long as it is convertible).

Face Values in the Range of $50,000 - $250,000

No medical records required, and we will have either an offer or a decline within 10 days! This is an extremely fast turn around for a Life Settlement Transaction.

Minimum age of 65 required, not all states are approved yet. Call 1-888-973-8377 to see if your policy qualifies. You could also get a free online quote.

The first testimonial is in!
"I was having such a hard time trying to sell my $100,000 dollar term life insurance policy. I was not planning on converting the policy, and figured it was basically worthless. I simply made one call to RTG Consultants and had a $15,000 offer 12 days later. A knew a life settlement was a powerful tool, but was surprised at the fast turn around on a small term policy that I was going to lapse. Thanks again guys!"
- E. Cordial, California

Reverse Mortgage Discussion

You assume incorrectly. Since I see you saying you have no clue about HECMs, lets not assume anything about reverse mortgages. I'm not attacking you, just protecting the best practices surrounding the reverse mortgage.

Since reverse mortgages do not have certain credit or doc type requirements, they should not be lumped in with your statement.

There are folks who are house rich but cash poor who turn to a reverse mortgage to meet their monthly financial needs.

There are folks that thought they had plenty of money to retire on that never anticipated the long term health care costs that had to turn to redeeming equity in their home.

There are folks that own second homes with plenty of money in retirement accounts that take equity out of those second homes to invest in businesses or pay for their grand childrens education or to take out annuities- all accomplished using reverse mortgages.

The word "most" should not come to mind when mentioned with reverse mortgages.

I hope I answered without offending you.

Source: Reverse Mortgage Information

Life Settlement Financial Planning

Life Settlements are turning Life Insurance into a financial planning vehicle.

Life Insurance coverage is a valuable tool however, when circumstances change, and a life insurance policy is no longer needed, wanted or affordable, historically seniors have allowed the policy to lapse or be surrendered back to the insurance company for a pre determined amount (the Cash Surrender Value). Lapsing a policy without exploring a life settlement option can be a huge financial mistake.

Seniors now have another option: to sell their policy to a financial institution for a cash settlement. Once the policy is sold, you will no longer be required to pay the on going premiums. The settlement amount is more than the value you would have received if you would have surrendered the policy or allowed it to lapse. This sale is called a "Life Settlement". How much would the settlement amount be? Appraise your policy now to discover its value. A life insurance appraisal can be calculated in a few seconds after you answer some very basic questions about your policy, age and health. You will not be required to enter personal information to obtain your results.

Call 1-888-973-8377 to find out if your policy will qualify for a life settlement. You can also get a Free Life Settlement Evaluation.

Other life settlement resources:
Life Settlement Auctions
Life Settlement Quotes
Senior Settlement
Life Settlement Forum

Reverse Mortgage Interest Rates

I get many emails and questions about reverse mortgage interest rates.

With a reverse mortgage, you are charged interest only on the proceeds that you receive. Most reverse mortgages charge a variable interest rate (although fixed rate products are entering the marketplace) that is tied to an index, such as the 1-Yr. Treasury Bill or the London Interbank Offered Rate (LIBOR), plus a margin that typically adds an additional one to three percentage points onto the rate you're charged. Interest is not paid out of your available loan proceeds, but instead compounds over the life of the loan until repayment occurs.

The HECM (Home Equity Conversion Mortgage) which happens to currently be the most popular Reverse Mortgage Product is based off the T-Rate. (Tresury Bill rate) plus a margin.

To give you an idea of the interest rate, for the week of July 16, 2007. The interest rate for the HECM was 6.00% (Monthly adjusting with 1.0 Margin) and 6.87 (Annual adjusting with 2.6 Margin).

It is important to understand what your rate will be before moving forward with a Reverse Mortgage. Call 1-888-973-8377 to speak with a Reverse Mortgage Specialist. They will be able to give you an updated interest rate at now charge or obligation. You can also email rates@rtgconsultants.com for current reverse mortgage interest rates.

Life Settlement Premiums

Another great life settlement question regarding payment of premiums..

Is my client still responsible for paying premiums after the policy is sold? If not, who is?

No, your client is no longer responsible for paying premiums. Once the policy is sold (and your client is no longer the policy owner), all premium payments and obligations are the duty of the purchaser (the life settlement company).

Are you ready to see the value in your life insurance policy?? Call 1-888-973-8377 today! Don't delay.

Life Insurance Settlement Association Attendance

The Life Insurance Settlement Association (LISA) again broke its own attendance records at the 13th bi-annual spring meeting last week in New York. More than 550 attendees gathered in what Executive Director Doug Head called "a historic, highly successful meeting."

Among other business, LISA members presented the inaugural Life Consumer Freedom Award to Georgia Insurance Commissioner John Oxendine. Head says the award, which was initiated by the LISA Board and based on nominations from LISA Members, recognizes Commissioner Oxendine "for his recognition and support of consumer property rights," referring to the ongoing efforts of some critics of the life settlement industry to deny consumers the contractual rights to sell their life insurance policies.

A life settlement is the sale to a third party of an existing life insurance policy for more than its cash surrender value but less than its net death benefit. Such transactions are usually undertaken for the purposes of estate or financial planning.

Commissioner Oxendine reflected upon his experience at LISA, saying, "Attending the LISA meeting was an eye-opening experience; it is one that all regulators and interested legislators should have as it shows the real scope and professionalism of the settlement industry. I am honored to be the first recipient of LISA's Life Insurance Consumerism Award."

"We believe in consumer choice, and Mr. Oxendine obviously shares that view," Head says. "He and legislative and regulatory leaders like him have stood up for personal freedom for consumers. We firmly believe this includes the opportunity for people to be able to realize the value in the investment they have made in life insurance. No consumer should be obligated or locked into products that no longer fit their needs. Fresh thinking has helped people to break chains at every stage of American progress. Commissioner Oxendine is part of that effort."

Source: Market Wire

Call 1-888-973-8377 to speak with a Life Settlement Specialist. You also can get a FREE Life Settlement Quote.