SPEED SETTLEMENTS: Tele-Under-Written
A Tele-underwritten life settlement for primarily Universal Life and Convertible Term policies. The policy’s settlement value is based on the age and prevailing health conditions of the insured, with a target age range between 70-95, and predicted life expectancy of 10 years or less. Underwriting consists of a phone based interview only. · Policy: face value $100,000 to $1M
· Male: minimum age 70
· Female: minimum age 70
*Telephone based interview underwriting only
*Illustration review
· Transaction time: 60 days
Policy Illustration:
Level death benefit, minimum guaranteed premium to maturity or age 100+, or conversion illustration for Term policy
Tax consequences:
1. Capital gain above basis in policy
2. HIPAA tax-exemption for chronic or terminal diagnosis