The Results

The Background: A 62 year old female had a $100,000 life insurance policy with Western Reserve Life Assurance Company of Ohio.

The Problem or Challenge: The insured has an aggressive form of uterine cancer. She wanted to sell her life insurance policy to raise cash. She was seeking as much money as possible to assist in funding experimental cancer treatments she wanted to participate in. She had an existing offer of $25,000 from a competitor when she contacted our team.

The Source of the Lead: An online ad.

The Solution: The client received a final offer of $40,000.

The Background: A 70 year old retired executive had a $1,000,000 term policy from Prudential with annual premiums of $26,000.

The Problem or Challenge: The insured enjoyed a net worth of over $10,000,000 but was not liquid. He had a need for liquidity.

The Source of the Lead: Direct contact with the insured. Met the insured while playing golf at a country club.

The Solution: The term policy was able to be converted to a universal life policy and sold as a life settlement. The insured received a purchase price of $116,000.

The Background: A 75 year old man had a $1,000,000 universal life policy with Genworth. The annual premiums were $32,000. There was no cash value.

The Problem or Challenge: As circumstances change so does our financial goals. When the insured’s wife passed away he felt he no longer needed his insurance policy.

The Source of the Lead: Referral from the insured’s financial advisor, a certified financial planner (CFP).

The Solution: After bringing the policy through a competitive bidding process with multiple bids, the seller accepted a high offer of a purchase price of $175,000. He was thrilled to place a majority of the proceeds in his granddaughters college education fund.

The Background: A university had a portfolio of donated life insurance policies. Two of the policies in their portfolio were a $1,000,000 life insurance policy from Prudential insuring a 79 year old male. The annual premiums were $60,000 with a cash surrender value of $8,036. The second a $500,000 life insurance policy from West Coast Life insuring an 81 year old female. The annual premiums were $51,000 with no cash surrender value.

The Problem or Challenge: The university needed to maintain their budget and continue to pay premiums on their entire life insurance portfolio.

The Source of the Lead: Networking with an alumni who sat on the board of the directors of the university.

The Solution: The $1,000,000 policy was sold for $175,000 and the $500,000 policy was sold for $100,000. This allowed the university to pay premiums on their portfolio policies.

The Background: An 80 year old man was the insured on a $10,000,000 key man life insurance policy with AIG. The company he owned was the owner of the policy. The annual premiums were $30,000 a year. The policy only had a cash surrender value of $13,000.

The Problem or Challenge: After the sale of his business he no longer needed the key man policy to cover the potential financial loss to his company. He was planning on turning the policy in for the cash surrender value of $13,000 until being educated about life settlements.

The Source of the Lead: The insured’s insurance agent.

The Solution: The owner received a purchase price of $1,200,000.