There are a number of valid reasons to begin pursuing a Life Settlement. It is an entirely personal matter and should be carefully discussed with family and financial advisors. There are certain standards the policy and the insured must meet in order to qualify for a settlement.
Here are some common reasons people choose to sell their life insurance policy:
People age 65 and or older are often eligible to sell their life insurance policy as long as the face value of the policy exceeds $100,000.
The average payout of a life insurance sale is 4-6 times the cash surrender value of the policy. At GJ Financial Group, we help policyholders get an average of 6-8 times the cash surrender value of their life insurance policy.
Continue Paying Premiums
Receive Cash Values (if any)
Receive More than Cash Value
Sell your life insurance policy to a buyer for a cash amount above your policy’s surrender value. You have no further obligations or claims to the policy, with all future premiums paid by the buyer.
MALE, AGE 70, WITH A $6,000,000 TERM CONVERSION
The insured was close to term expiration with plans to cancel the policy. GJ Financial Group, utilizing multiple underwriters, was able to offer the client $180,000 for the proposed UL conversion. In addition, GJFG agreed to pay the full target of $23,000 in year one.
Retain a portion of your life insurance benefit without having to pay future premiums. Your beneficiaries will receive a guaranteed percentage when the policy ends, but you have no further obligations or payments to make.
MOTHER, AGE 96, WITH A FAMILY POLICY AT $10,000,000 WITH A $900,000 ANNUAL PREMIUM FINANCE LOAN
The family was able to keep $3,000,000 in death benefit while paying off the entirety of their 2.6 million dollar loan. GJ Financial Group helped them get their premium payments taken over and the family retained the level of protection their estate needed.
A combination of traditional and retained, this option means you can sell a portion of your life insurance policy and retain a portion at the same time. You receive a cash payment now and your beneficiary receives a guaranteed percentage of the benefit when the policy ends, but you have no further obligation to pay future premiums.
FEMALE, AGE 86, WITH A $750,000 UNIVERSAL LIFE POLICY
The insured was diagnosed with Alzheimer’s and was living under 24-hour care. Her daughter came to us looking for relief from rising premiums. We were able to get the client $150,000 in cash while she retained $400,000 in death benefit.
We take a unique, client-first approach to the Life Settlement Industry. Whether you are planning for retirement, consolidating an estate plan, or facing a severe illness or medical issue, we can help you decide if selling all or a portion of your life insurance is the right choice for you. We will walk you through the entire process, showing you the numbers and the numbers behind the numbers — all policy valuations, underwriting, costs and returns — so you understand all your options and can make an informed decision for your financial future.
We work with only HIPAA certified, direct buyers. Feel secure knowing your personal information is not being shared with outside companies
With over 15 years of industry experience, we are able to help navigate our clients to the best possible outcome.
Get an estimate of what your policy is worth, typically within 24 business hours. With a simple phone interview and some basic policy information, we can identify the real value of your policy
Alongside our partners, we have helped seniors secure their retirements, find value in their lapsing policies, and pay for their dream vacations.
GJ Financial Group proudly assists those suffering from severe illnesses, such as cancer, in finding funding in their living life insurance benefits.
Whether you are suffering from a severe illness, consolidating an estate plan, or just want to secure extra money for your retirement, GJ Financial Group can help.
Our Client Testimonials & Examples
“GJ Financial Group kept me informed throughout the entire process with constant updates every step of the way. Because of their professionalism and knowledge, I found the experience to be less stressful than I had originally feared,” said Terri.
“I would recommend GJ Financial Group to anyone who is coping with a life-changing event like cancer and needs to make tough financial decisions to improve their quality of life,” said Terri. “They treated me like a real person and I truly felt GJ Financial Group had my best interest in mind.”
Jim was in need of additional funds to help with living expenses and his monthly premiums were more than he could afford. He was considering letting the policy lapse when his financial advisor recommended that he evaluate all of his policy options.
Jim discovered GJ Financial Group during his research and was able to quickly get his premium paid and the policy current through GJ Financial Group's Lapse Saver Program. Jim’s policy was saved and he collected $110,000 to help with his daily expenses.
Lou and his family decided that a policy was no longer needed for their estate plan and considered surrendering it to the insurance policy for a low payback. The policy beneficiary was Lou’s daughter, Amy, who decided to explore a better option: selling the policy through a settlement.
With Lou’s age and medical history, GJFG helped facilitate a payout that was double the cash surrender amount the insurance company was offering, returning $1.2 million back to his family.
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