WHOLE LIFE or INDEXED UNIVERSAL LIFE
REVERSE SETTLEMENT
A life settlement option for Whole Life and Indexed Universal Life (IUL) policies based on the cash surrender value instead of the face value of the policy. This is a non-underwritten settlement option without any review of medical records or need to measure life expectancy, and has no age minimum. The settlement pays 90%+ range of the CSV to the policy owner, combined with a Net-Retained Death Benefit paid upon maturity to named beneficiaries of policy · Policy: Minimum face value N/A - Minimum CSV N/A
· Age: Minimum N/A
· Offers within 24-48 hours
*No medical underwriting
*Illustration review only
*Transaction time 2-4 weeks
Policy illustrations run with riders removed for two scenarios:
Reduced paid up funding
Maximum premium to maturity
Tax consequences:
1. CSV settlement- capital gain above basis in policy
2. Retained Death Benefit- no taxation on death benefit paid to beneficiaries upon maturity