Senior Life Settlements

A senior life settlement is the sale of a life insurance policy covering a person who has a limited life expectancy.

In a senior life insurance settlement transaction, the policy owner is paid a lump sum in cash in exchange for transferring ownership of the policy. The amount paid in a senior life insurance settlement is based primarily on the life expectancy of the person insured, the face amount of the insurance policy and its premium requirements.

A senior life settlement is the more lucrative alternative to letting the life insurance policy lapse or surrendering it to the issuing insurance company. Whenever policy owners are considering surrendering a life insurance policy or letting it lapse for any reason, they should explore the life settlement option with their financial advisors.

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