Life Settlement Examples and Success Stories
Real-life examples of life settlements from Lighthouse Life
Life Settlement Examples and Success Stories
Real-life examples of life settlements from Lighthouse Life
Real life settlement examples and success stories from Lighthouse Life
Do you want to know how much people like you receive when they sell their life insurance policy in a life settlemet? Here are some actual examples from people who chose to work with Lighthouse Life.
A mother and daughter both got peace of mind
Louise had mounting medical bills, and her care was only going to get more expensive. At age 65, she had been living with a multiple sclerosis diagnosis for more than 10 years and required near-constant care.
Louise’s daughter, Clara, was evaluating her mother’s assets and expenses since she was on a fixed income. During this time, Clara learned that Louise may be able to sell her convertible term life policy for a cash payment that they could use to help fund her long-term care needs.
The experts at Lighthouse Life helped Louise and Clara effortlessly navigate everything from ordering records from the insurance carrier to converting the term policy to a whole life policy. Lighthouse Life bought the policy for $50,000, a sum which helped make a difficult situation a little easier for the mother and daughter and gave them both peace of mind.
Louise’s Life Settlement Value: $50,000
Policyowner age
65
Policy amount
$250,000
Cash surrender value
$0
Martin sold his policy for more than 50x its cash surrender value
Martin, a fairly healthy 86-year old man, owned a $200,000 universal life insurance policy. He initially took it out to help protect his wife financially should he pass before her. When she predeceased him, he no longer needed the policy.
He had keep it in force for several years by using the accumulated cash value to pay the premiums, but the cash value was running low. Martin wanted to find a way to benefit from the policy without needing to make large, out-of-pocket premium payments which were scheduled to balloon significantly over the coming years.
Instead of letting the policy lapse and accepting the dwindling cash surrender value of $1,800, he contacted Lighthouse Life. After a free, thorough, and zero-pressure policy evaluation, Lighthouse Life purchased the policy from Martin for $101,000 – more than 50x the surrender value.
Martin’s Life Settlement Value: $101,000
Policyowner age
86
Policy amount
$200,000
Cash surrender value
$1,828
Helen wanted to improve her financial security
Helen, a 79-year-old in good health, had a $150,000 universal life policy that cost her $2,500 per year – and rising – to keep in force. The premiums were getting too expensive for her budget.
She wanted to improve her financial security, but the insurance company would only have given her $677 in exchange for surrendering the policy (its cash surrender value).
Instead, she spoke with Lighthouse Life and learned she could sell the policy for its market value of $7,000, more than 10x the cash value.
Helen’s Life Settlement Value: $7,000
Policyowner age
79
Policy amount
$150,000
Cash surrender value
$677
Mark was planning to let his policy lapse
Mark, a fairly healthy 65-year-old man, had a $200,000 Universal Life policy he no longer needed. Since his kids were grown and financially independent, he was planning on letting the policy lapse.
Instead, he sold the policy to Lighthouse Life for $17,500 – money he would have thrown away if he had let the policy go before finding out how much it was worth.
Now, Mark can use that money to ensure a more financially-independent retirement.
Mark’s Life Settlement Value: $17,500
Policyowner age
65
Policy amount
$200,000
Cash surrender value
$0
David needed money now
David, a 69-year-old man with several health challenges, had a $250,000 term life policy. He thought his policy had no value as an investment because it was a term policy.
However, after speaking with Lighthouse Life, he learned he could sell his policy and use the proceeds to help alleviate financial strain.
David received $50,000 – and peace of mind – in his life settlement.
David’s Life Settlement Value: $17,500
Policyowner age
69
Policy amount
$250,000
Cash surrender value
$0