Life Settlement Qualification Review ** To qualify for a Life Settlement, the insured typically needs to be 65 years of age or greater, the policy must be in-force and with a minimum face value of $100,000. To start a policy review, we will need an intake form, policy statement and illustration showing level premium to age 100 or greater (or a conversion illustration for a term policy). Disqualified for Life Settlement: -
Below age 65 o Some exceptions based on medical conditions and verified terminal
-
Below face value of $100,000 o Some exceptions allowed for sub-$100,000
Very difficult for Life Settlement: -
Non-convertible term Variable life Survivorship with two living insureds Fact Finder
1) Age 65 or above Y / N DOB _____________ 2) Gender M / F 3) Policy Type • Universal Life o Variable Y / N o Second-to-Die Y / N •
Term Life o Convertible Y / N
•
Whole Life o Cash Surrender Value ______________
4) Name of Insurance Company _________________________ 5) Face Amount _______________________ • Policy Loans Y / N (amount if Y) ____________________ • Is Policy in Grace or Lapse Pending (date if Y) _____________ 6) Policy Issue Date ____________________
7) Reason for considering a life settlement instead of keeping policy:
8) Has policy already been submitted for review with a life settlement broker or buyer Y / N 9) Please circle any that apply ✓ Minor Health Problems - Overweight, Elevated Cholesterol, Asthma, Arthritis, Cancer that has been in remission for 5 years or longer, Osteoporosis, Diabetes (type II), Hypertension, Ulcers, Atrial Fibrillation. ✓ Health Changed Considerably Since Policy Issue - Hepatitis C, Pacemaker, Multiple Sclerosis, TIA, Sleep Apnea, poorly controlled Hypertension or Diabetes, Parkinson Disease, short-term memory loss. ✓ Serious Health Problems – Multiple TIA’s, Heart Failure, Coronary Artery Disease, COPD, Stroke, Heart Attack, Lupus, Emphysema, Cancer (recent or recurring), Cirrhosis, Coronary By Pass, Alzheimer’s disease, aneurysm, peripheral vascular disease, valve replacement or repair. 10) Please describe any prevailing health impairments and list medications being taken:
Available Life Settlement Options LCX Life continues to lead the way in the life settlement marketplace with innovative life settlement products designed to address the unique challenges of aging and impaired health. Life Settlement Solutions Menu: • • • • •
Traditional Life Settlement Speed Settlement (non-underwritten-- $1M+ face and mid-70’s+age) Whole Life and IUL Reverse Settlement (non-underwritten-- young and healthy preferred pricing) LTC-Settlement (LTC-HSA Benefit Plan) Viatical Settlement (cancer and certified terminal)
Whatever type of insurance policy or circumstances a client may have, LCX Life offers the widest range of direct-to-buyer options in the market for a policy owner to find the best value to address their financial needs. LCX Life: LCX Life is the only Life Settlement Marketing Organization (LSMO) in the insurance industry. Our mission is to work with agents, advisors, and our IMO/BGA partners to build a network of Appointed Referral Agents who are educated and supported to offer the life settlement option to policy owners contemplating lapse or surrender. We also work with independent agents, financial advisors, lawyers, accountants, and long-term care industry service providers. With LCX Life, we can rescue thousands of policies every year, and in the process, deliver a recurring revenue stream to your organization. www.lcxlife.com