Wyoming Life Settlements

Seniors in Wyoming now have to the opportunity to explore Life Settlements...

Life Settlements, commonly known as Senior Settlements, Life Insurance Settlements, and Viaticals, is the sale of a life insurance policy that is no longer wanted, needed or affordable to a third party for an amount greater than the cash surrender value. A potential candidate typically is an individual who is 65 years or older. However, if the individual is experiencing serious health complications, they may have an outlet via a viatical settlement.

This secondary market for insurance contracts has evolved into an innovative, creative, and efficient way to create wealth. As education and information continues to grow, more seniors will explore the benefits.

Life Settlements offer an exit startegy to those insureds who cannot afford their premiums and are in danger of having their policy lapse, or simply settle for the cash surrender value. It is also a beneficial option for those insured's who may no longer have any reason for their coverage, or would like additional liquid capital. Other times, people have a large policy and they no longer need that much face value. Easily, Wyoming seniors can explore this option of selling their life insurance policy now to produce a large cash settlement.

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Life Settlements qualification is a no cost and no obligation procedure. Almost all life insurance policy types qualify. The policy (coverage) must have a minimum face amount of at least $100,000, and the policy must have been in force for a minimum of two years. (If you are looking for Term Life Settlements, in almost all cases, the policy must still be convertible).

The following are the types of policies that can qualify for life settlements:

  • Universal life
  • Survivorship
  • Term
  • Whole life
  • Group life insurance (provided it is convertible)
  • Key Man or COLI (Corporate Owned Life Insurance)
Policy can be owned by:
  • An individual
  • A trust
  • A corporation
  • A charitable organization

The application process is easy and just requires information about your location, insuranc policy, and medical information. You do not have to complete a medical exam, and there is no cost required to find out if you qualify. Also, you do not have to reside in Wyoming to qualify.

Life Settlements Services are offered throughout Wyoming including, but not limited too: Cheyenne, Casper, Laramie, Gillette, Rock Springs, Sheridan, Green River, and all of Wyoming.