Arriving at retirement age requires seniors to look into their financial matters once again. Click Here for more info.
Click Here for the steps to obtaining a senior settlement are very simple and at no cost or obligation to you.
Applying with Senior couldn't be easier. For your convenience, we've given you several methods to choose from. Click Here for more info.


Arriving at retirement age requires seniors to look into their financial matters once again. Among the most important financial considerations for seniors reaching retirement is cash flow. This requires a careful assessment of financial obligations versus financial capacity.

Whether you qualify for a senior settlement or not depends on the type of life insurance, the age and health of the insured and the amount of premiums needed every year. Most types of individual life insurance are accepted into a senior settlement. These include term, whole life, universal and survivorship coverage. The amount of life insurance in-force must be above 100 thousand dollars, and the coverage needs to have been in-force for at least 2 years.

The most significant determinants of the settlement amount are the combined effect of the health and age of the insured. If the life insurance is a survivorship policy, the age and health of both insured individuals is relevant. Healthy seniors in their eighties would qualify and seniors as young as 70 may qualify if other health circumstances provide for a limited life expectancy.

The amount of life insurance premiums plays a major role in determining the offer in a senior settlement. The lower the annual premium amount, the higher the settlement offer.

Policies held in Irrevocable Life Insurance Trusts may have exceeded their utility. If a Trust requires continuing premiums, by entering into a senior settlement the beneficiaries of the trust may realize an immediate gain while the policyholder completes its premium responsibility.

Retiring executives may find excess life insurance coverage in their "key man" policies and "buy & sell" agreements. These policies may have outlasted their purpose and would have significant life insurance coverage that requires a heavy premium commitment. Through a senior settlement, the retired executive can transform an otherwise disappearing asset into a source for severance pay, investing in a closely-held business, buying the equity interest of a partner or stockholder or to eliminate outstanding debt.

One of the most important decisions facing seniors involving financial matters revolves around estate planning. The proceeds from a senior settlement may allow the purchase of survivorship coverage for estate tax purposes. Further estate tax deductions may be possible with charitable giving through the creation of a charitable lead trust or charitable remainder trust.
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