Settlement SYNC - New York Life Settlement Broker

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) November 5, 2008 -- Have you ever found yourself, wondering if you or some distant relative may hold the key to a long lost fortune or mountain of hidden assets? I bet that if I told you there are, on average, more people who actually do, and better odds that you are one of them, I’m pretty sure you’d raise an eyebrow.

The process behind finding these undervalued or hidden assets is called a Life Settlement. A Life Settlement is defined as a one-time payment to the insured for a premium that is a percentage higher than the current cash surrender value (CSV) of the policy. For example, if the policy is valued at $500,000 and cash surrender value (CSV) is $40,000, and you were offered $50,000 there would be a 25% premium over the cash surrender value. Look at that I just found you an extra $10,000 and no cost and no fee to you. Why? Because it’s your money.
There are a few requirements that I just want to touch on, before you begin asking yourself what your policy is worth. First and foremost, the insured must be at least 65 and in a majority of cases the older the insured the more hidden value can be unlocked. Secondly, the policy must be at least $500,000 in face value. Why? As much we want to give you the benefit on any policy most of our investors want a solid reputable face value so the transaction can run smoothly and we are able to give you an accurate assessment.

One key point to keep in the back of your head when you are assessing your own policy or the policy is the following idea brought up in an article written by John Martin , in which summarizes how a policy qualifies. He summarizes the basics in brief and simple terms. “Life settlements are for people without a terminal illness who have a life expectancy of 3 years or more but usually less than 15 years. As a general rule, anyone over the age of 65 could be a good candidate; though those age 70 or 75 will generally get a higher price due to a shorter life expectancy. Sometimes the insured has simply outlived his or her family or beneficiaries”.

In terms of the corporate marketplace, life settlements can also unlock hidden value when a merger or acquisition is about to take place and assets need immediate financial definition. There are two most common scenarios wherein companies may opt to discontinue the life insurance policies they own. First, if the insured executive or "key-man" may retire or leave the company for any reason, the business would normally return the policy to the insurance company for the cash surrender value. Second, should the business be sold to another company or go into bankruptcy it may make sense to discontinue the pre-existing key-man insurance policies. In this case again, the business would return the policy to the insurance company for the cash surrender value. Both cases are clear scenarios that need to be assessed by a key-man policy.

65     finance     Home     insurance     life     life settlements     money     mortgage     older     people     senior     settlement     value