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Senior Life Settlements- A New Financial Dawn Emerges When delving deeper into the market-driven research on the myriads of reasons, motivations, and/or rationales for senior life settlements - seniors selling their life insurance policies have surfaced in recent years. According to studies by key industry players, policyholder rationales for selling life policies are to be identified on one of three levels, due to a combination of them OR influencers from all three levels working together to result in senior life settlement transactions: Individual: cash-need for major expenses, outlived need for coverage, needing different coverage or features, financial distress Family / Estate: Change in beneficiaries (e.g., divorce, death of dependents), Second-to-die policyholder (i.e., spouse) has passed away, material change in the value of estate Business: Change in key executives / partners, change in succession plan (e.g., family business) or needing cash / seeking to monetize assets (Source: Bernstein Research Call, Sanford C. Bernstein & Co., LLC, a subsidiary of Alliance Capital Management, 2005) Other sources (Milestone Settlements, 2004) confirm that senior life settlements appeal as solutions to individuals most likely to consider a life settlement, because they, for one reason or another, no longer need the insurance they purchased. A number of reasons may include: * Seniors whom have insurance and/or estate needs that have changed, making their current policy(s) inadequate or exceedingly adequate for their current or future needs * Seniors who are not satisfied with the performance of the insurance product(s) they have chosen, or are aware of newer, better performing insurance products * Seniors who choose to realize the value of their policy(s) » Discuss it » Continue Reading »
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