LIFE SETTLEMENTS
Selling an Existing Life Insurance Policy

Life Settlements are financial transactions. They allow policy owners to sell an unneeded life insurance policy to an institutional funding source for more than the policy owner would receive by cashing in the policy. The seller walks away with cash, which can be used for any purpose. Meanwhile, the buyer takes over the premium payment obligations and records its name as new owner and beneficiary of the policy.

There are multi-billion dollar funding sources pooling financial capital to purchase thousands of life insurance policies, some with face values of $10,000,000--and more.

To qualify for a Life Settlement, the following general guidelines need to be met:

1. The insured (or insureds for a survivorship policy) need to be 65 years of age or older.
2. The policy must have been in force for at least two years.
   
3. The policy must have a face amount of $250,000 or more.
   

Any kind of policy will be considered, even term policies. Policies can be owned by individuals, businesses or trusts. The effect is the same. The owner sells the policy for cash which can be used for any purpose.

Why do a Life Settlement?

There are many reasons why a policy would be sold:

1. Policy owner feels he is over-insured. Objectives can be handled with other coverage.
   
2. Policy is simply no longer needed.  Over time, estate planning needs change, family needs change, business relationships change, and financial needs change. These are all reasons why the policy no longer makes sense. 
   
3. Premiums are too expensive.

When contemplating cashing in a policy, consider a Life Settlement instead. There is no cost to have an offer generated, and the cost of not considering a Life Settlement option can be very substantial.

At VSPI, we represent large, institutional funding sources that purchase existing life insurance policies from individuals, businesses, and trusts.  By utilizing VSPI’s unique services, clients get the benefit of our experience and knowledge of the industry, as well as the comfort of knowing that the policy is being reviewed by a number of qualified companies — creating the best opportunity for a good offer for your life settlements.

• Businesses, individuals and life insurance trusts can sell an existing life insurance policy for cash now — while the insured is still living.

At VSPI, we are “Bringing Benefits to Life…”™  If underwriting guidelines are met, we can show you how an existing life insurance policy can be sold for a percentage of the net death benefit now, for cash — cash that can be used for any purpose.  There are no restrictions on how you use the money.

VSPI
2 W Runswick Drive
Richmond, Virginia 23238
Phone: 804-740-3900
Toll Free: 888-321-9057
Fax: 804-740-8880
info@vspi.com

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Life Settlements questions or comments should be mailed to: info@vspi.com
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