Advanced Settlements, a company engaged in life settlement business, has launched its new Life Settlement Policy Evaluator.
A life settlement is the sale of a life insurance policy to a third party for a cash payment less than the full amount of the death benefit – but for more than the policy surrender value. Proceeds may be used any way the seller sees fit, although they are often used to buy a more cost effective life insurance policy or annuity, purchase long term care insurance, provide cash gifts to family members.
Scott Kirby, co-president of Advanced Settlements, said: The Life Settlement Policy Evaluator is a great way to receive an immediate life settlement estimate on an existing life insurance policy. With the Life Settlement Policy Evaluator financial professionals now have another tool to assist their senior clients in determining the value of their life insurance policy.