SPEED SETTLEMENT: Non Under-Written
A non-underwritten life settlement option for Universal Life (no variable) and Convertible Term policies based on the policy values, and not life expectancy. Applicants are assumed to be standard and the policy value is analyzed without any review of medical records or need to measure life expectancy. · Policy: minimum face value $1M
· Male: minimum age 77
· Female: minimum age 79
· Offers within 24-48 hours
ü No medical underwriting
ü Illustration review only
· Transaction time 30 days
Policy Illustration:
Level monthly mode, using guaranteed crediting rate and current charges to age 100 (Extender past 100 preferred)
Tax consequences:
1- Capital gain above basis in policy