Life settlements provide seniors with a lump sum value for their life insurance policy.

• Superior financial solution if you no longer need a life insurance policy due to a change in circumstance
• Alternative to allowing a policy to lapse

Free Evaluation - Click here to contact us

A life (or viatical) settlement is the sale of an existing life insurance policy for more than its cash surrender value but less than its net death benefit providing you with a higher payout than received in a cash surrender value.

Financial institutions and reputable banks purchase your existing life insurance policy taking into account your age, state of health, and the overall economic environment. MaxLife Solutions gathers several competitive bids to ensure your maximum value.

The buyer (called a provider) becomes the new owner of the life insurance policy, pays future premiums, and collects the death benefit when the insured dies.

CONTACT US FOR YOUR ELIGIBILITY

Life Settlements vs. Viatical Settlements

Regulatory usage of the terms “viatical settlement” and “life settlement” varies by state. However, the market generally uses the term viatical settlement to refer to instances where the insured is terminally ill with a life expectancy of less than two years. A life settlement focuses on policies insuring older individuals with life expectancies greater than two years.

Life Settlements

A life settlement is available to seniors who meet the following criteria.

• Males 65+
• Females 70+
• Life expectancy of 12 years of less
• $100,000 minimum in life insurance coverage

Viatical Settlements

Seniors with a terminal illness or life expectancy of less than 2 years are eligible for a viatical settlement.