Nearly $1.5 Trillion face amount of life insurance policies expired, lapsed or were canceled by policyholders; each policy was a potential source of wealth had the owner sold it on the secondary market.
Life settlements can help finance long term care needs and are an example of a relatively new financial planning product that can provide substantial consumer benefit.
Life settlements are viable financial tools that liberate liquidity and value trapped within key-man policies and should be explored in any situation where there is a change in business ownership.
CLIENTS MAY HOLD MILLIONS IN UNTAPPED INSURANCE WEALTH Pennsylvania's Wharton School and Criterion Economics LLC in Washington, DC found that holders of life insurance policies sold their policies through life settlement transactions this year and received 242 million in excess value that would have been forfeited by insurers.
NEW VALUE IN OLD POLICIES -- Clients can recover significant wealth that may be tapped in unneeded Life Insurance.
Journal of Accountancy October, 2001