I got a few emails with questions regarding eligibility for public assistant programs.

Here is an answer that may help you…

Receipt of a life settlement may affect your eligibility for public assistance programs such as medical assistance (Medicaid), Aid to Families with Dependent Children (AFDC), supplementary social security income (SSI), and drug assistance programs. The money you receive for your life insurance policy also may be taxable.

*Before completing a life settlement contract, you are urged to consult with an attorney, accountant, estate planner, financial planning advisor, your insurer or insurance agent, tax advisor, or a social service agency concerning how receipt of a payment will affect you, your family, and your spouse’s eligibility for public assistance.

For more information about life settlement generally, contact the Department of Insurance in your state of residence.

This question gets asked all the time… “What offer can I expect from the sale of my policy?”

That is a tough question to answer due to the face that each policy has to be individually priced and underwritten. However, we are seeing the a current offer range from 5% – 30% of the face value. With a majority of the current offers falling in the 10% – 22% range. We have seen viatical settlements receive recent offers up to 55%. (Remember a viatical is considered a 2 year or less life expectancy and usually a terminal illness).

We are currently seeing a buyers market, so offers have been lower and some policies that may have received offers a few years back or not getting offers at all.

To find out what your policy is worth, call 1-888-823-7764, there is not a cost or obligation.

Has the age range changed for a Life Settlement the past 1-2 years?

I would have to say yes, it has. The groups that are currently purchasing policies know that it is a buyers market and are cherry picking the best policies. In the recent years we saw seniors at the age of 65 or older actively getting offers on their policies, however in the last year it seems the main focus is over the age of 75.

However, depending on your current health conditions, that may play a factor. But we want consumers to know that younger seniors are struggling to get offers.

Call the help line at 1-888-823-7764, and we will let you know the potential of getting a Life Settlement offer…