Life Settlements Today

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Life settlements produce immediate lump sum cash from an existing life insurance policy. This gives policy owners over the age of 65 the opportunity to sell off unwanted, unaffordable or obsolete life insurance policies.

The policy must be sold to a licensed settlement broker, in exchange for contract ownership rights. The amount paid to policy owners is a percentage based on the policy's net death benefit and is determined by both the estimated life expectancy and the associated cost of premiums that keep the policy in force for that timeframe.

Introduced as new financial planning option for seniors in the late 1990s, life settlements have become a valuable investment alternative for eligible seniors. Nowadays accountants, attorneys, estate planners, financial planners and charitable-trust officers are regularly presenting life settlement options to their senior clients.

Life settlements have risen from 2.5 billion in 2003 to an astounding $7 billion in 2005. The industry is expecting a 50% growth in 2006.