Seniors 65+ can now access tools that provide instant estimates of the value of their life insurance, explore the tax implications of selling their policy in a life settlement and connect with authorized purchasers who compete to buy their policy.
San Diego, CA (PRWEB) January 13, 2009 -- Calling it "a win for the consumer", the Life Settlement Network has announced several free and instant on-line tools that provide senior life insurance policyholders direct access to analysis previously unavailable. These new tools provide answers to common life settlement questions such as 'How much is my policy worth?' and 'Am I eligible?' without having to set up a consultation or appointment with a life settlement broker or life insurance agent. By providing a range of likely offers, interested seniors can determine if they have a marketable policy. After discussing their options with a financial advisor, senior policyholders can submit their case confidentially to all authorized funding sources - cutting the costs associated with selling a policy.
"Providing tools that help seniors determine for themselves if they are eligible and what their insurance policy might be worth eliminates the need for costly and time-consuming evaluations and taps into the natural resourcefulness of many of our clients," says the Life Settlement Network managing partner Chris Chidgey. He adds, "Creating efficiencies in this costly process means less compensation for the facilitators of the process and more for the senior - the value for the senior sky-rockets."
It has been estimated the cost of selling a life insurance policy in a life insurance settlement is as high as 50% of the settlement proceeds. In some cases, the policy changes hands multiple times before landing in a portfolio. By enabling seniors to determine for themselves if their policy has any value in the settlement market and what the range of likely values are, interested seniors and their advisors can do much of the qualification on their own. The tools provided are safe, secure and confidential and there is no obligation to accept an offer once a case is submitted.
Seniors 65 and older holding or paying premiums on unwanted, unneeded or under-performing life insurance should determine whether selling their policy in a life insurance settlement is likely to generate more funds than surrendering the policy for the stated cash value. Starting with a free and instant on-line life settlement quote using the life settlement calculator from the Life Settlement Network is a great first step.
