Purpose Life Settlement helps clients sell their existing life insurance policy.
Types of Life Settlements:
1. Traditional: Full market value for policy paid to client and buyer becomes 100% beneficiary.
2. Retained Death Benefit: Client receives no money for the policy, but
the buyer pays the premiums, and current beneficiary still receives a portion of the death benefit.
3. Hybrid Life Settlements: Client receives a portion of the policy sale proceeds and their current beneficiary splits a portion of the proceeds
with the buyer of the policy upon policy maturity.
4. Annuity purchase with the sale of the policy, which can be used as a tax shelter.
5. Tax free settlement to pay for long term care.
6. Exchange policy for another that meets your lifestyle and goals more effectively.
