All types of insurance policies can be sold including term and convertible term, universal, whole life, variable, and second to die. The most attractive types for buyers in the current market are universal life and convertible term.

Yes, the Supreme Court ruled in 1911 that your insurance policy is an asset and may be bought or sold just like your home.

All the rights and ownership of your policy are transferred to the new owner. You do not make any more premium payments.

There is NO out-of-pocket expense at all and you do not need a medical exam.

It generally takes about 7 to 10 weeks to complete the entire life settlement process. Much of the process time depends on how quickly your insurance company takes to change ownership and beneficiary of the policy to the new owner.

Your life insurance proceeds may be taxable based on how you decide to structure the transaction. We highly recommend that you seek the assistance of a professional tax advisor to determine your individual or corporate tax situation.

As with all important business transactions, policy owners and insureds must be careful not to be the victim of fraud or to commit fraud in connection with a life settlement. Individual policy owners and insureds are often older individuals who may be particularly vulnerable to fraud schemes. The life settlement industry wants to help older adults avoid such circumstances. The life settlement industry has observed a particular kind of transaction associated with life insurance policies and wants you to be aware of this. The transaction is known as “Stranger-Originated Life Insurance”, or “STOLI”. STOLI usually involves an older person being approached by a licensed life insurance agent or another party to obtain new life insurance, with the policy being controlled, from the start and paid for by a third party. Some older individuals may even be offered compensation for his or her participation as the insured. What makes this problematic is that the New York Insurance Law prohibits a person from initiating or facilitating the issuance of an insurance policy for the intended benefit of a person who, at the time when the policy is issued, has no insurable interest in the life of the person being insured.