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What is the difference between Life Settlements and Viatical Settlements? |
Consider Financing
Don’t want to sell your policy? Consider financing your premium payments.
There are a number of financing options for Life Insurance Premiums. Click to the right for a Free Evaluation or call (877) 282-4360 to discuss which option is right for you.
In Force Financing
Permanent Financing for Existing Life Insurance Policies
- Get up to 3% CASH distribution
- Retain interest in the policy benefit for estate planning purposes, while ending future premium obligations
- Avoid the discomfort of selling your life insurance policy
Eligibility
Following are the minimum eligibility criteria to be considered for In Force Financing:
- Policy: Insured’s ages 60 to 90
- US issued policy past contestable period (2 yrs)
- $3,000,000 minimum death benefit
- Single life or survivorship policies
- Universal life policy or term policy convertible to universal life
- Minimum carrier credit rating of A- by Standard and Poor's or equivalent rating from Moody's or Fitch. (For ages 60 to 70, minimum carrier credit rating of AA- or equivalent)
- Owner Net Worth: Individual policy owners must have minimum net worth of $1,000,000 excluding primary residence.
- Requirements differ where the policy is owned by a non-natural person. Generally, in the case of an ILIT owner, the trust grantor must meet the net worth requirements stated above.