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Life Settlement Overview applicant will need to use a licensed viatical broker and/or funder in order to abide by state rules and regulations and to retain the tax-exempt status of the settlement. According to industry reports, Life Settlement proceeds are tax-free up to the cost basis (premiums paid since policy inception). They are taxed as ordinary income from basis to cash surrender value and proceeds above the cash surrender value are taxed as capital gains. Once the Life Settlement change of ownership has been recorded with the insurance company and the policyholder has received their money, the Life Settlement funding source will continue to pay premiums throughout the life of the insured. All types of life insurance qualify including group, term, whole-life, universal, survivorship and key-man policies. Grant Shellhammer is located in sunny Orlando, FL. He is a licensed insurance agent and affliate Life Settlement Broker with Life Settlement Pro. He works with senior citizens and financial professionals nationwide to receive the highest available offers for their life insurance policies. Contact details: grant@lifesettlementpro.com 1 >> 888.973.8377 http://www.lifesettlementpro.com « Previous Page « Last page » Discuss it (all 2) »
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