What Are Life Settlements?

A life settlement is the transfer of ownership and beneficiary rights of an unwanted or unneeded life insurance policy in exchange for a cash settlement. The secondary market landscape is dominated by insureds typically aged 65 and older, some with medical impairments resulting in shortened life expectancies.

Life Settlements became more sophisticated as actuarial techniques and advanced financial analysis were implemented during the underwriting process. The senior population has redefined the life insurance settlement industry, expanding the industry into a multi-billion dollar market. The industry today is almost entirely comprised of a few mainstream capital sources that have revolutionized the speed and scale of the secondary insurance market. The industry has also become more specialized with seniors working with financial advisors, brokers and a number of ancillary and service providers.

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