Whitestone Life

What Insurance Agents Need to Know About Life Settlements

Life insurance policies have long been considered a means to provide financial protection for the surviving family members after the passing of a loved one. They are also used to pay estate taxes, fund buy/sell agreements, and meet other financial obligations. However, through the life settlement process, an in-force life insurance policy can also be valuable while the insured is still living. 

Life settlements provide great financial opportunities for insurance professionals and their clients. The policy owners can have access to immediate cash that can be used to purchase other financial products that are more suitable for their current stage of life. Proceeds of a life settlement are unrestricted and can be used to meet a wide range of financial and estate planning objectives.

Happy Seniors Using a Tablet

Questions for Insurance Agents

  • Which of your clients may qualify for a life settlement transaction?
  • Is your client over the age of 75?
  • Can your client benefit from other financial or insurance products?
  • Does your client want to cancel their policy?
  • Does your client need more or less coverage?
  • Has your client experienced changes in health status?
  • Will your client benefit from reducing or eliminating premium payments?
If you answered “YES” to any of these questions, your client may be eligible for, and benefit from, a life settlement transaction.

Benefits for Financial and Insurance Professionals

  • The policy remains in force with continuous residuals and reduced lapse rates.
  • You can offer a new service to your clients.
  • You can receive referral fees from a life settlement transaction.
  • You can sell additional life insurance policies and other financial products using the proceeds of a life settlement.

Benefits for the Client

  • Access income from a dormant asset.
  • Experience more comfortable retirement years.
  • Fund new financial products, such as annuities, life insurance, long-term care, or investments.
  • Provide cash gifts to family members.
  • Provide funds for charitable giving.
  • Receive a significant sum of cash above the policy’s cash surrender value.
  • Settle personal debts proactively.

Contact Us

For more information regarding Whitestone, life settlements, or a specific life settlement case, please email us at info@whitestonelife.com or call 800-798-9789.