Carmel, IN (PRWEB) March 23, 2005
Retirement planning and Social Security are in the headlines every day. Yet, few mature individuals are aware they might get useful retirement cash by selling unwanted life insurance policies. "Senior Life Settlements can help many people enjoy their over-60 years," said American Viatical President Morris Heins, who began his financial career in 1965.
Insureds age 65 and older own nearly a trillion dollars of life insurance, but only a tiny fraction of policies are being sold on the secondary market. When it comes to Senior Life Settlements, very few insureds are being instructed by their life insurance agent, financial planner, wealth advisor or CPA. ÂWhat we're seeing is a failure of communicationÂ. American Viatical serves to educate the public about Senior Life Settlements, and its staff can speak with authority.
One of the many positive features of Senior Life Settlements is the money may be used for any purposes, without disclosure. Some policy owners use the money to buy a second home, take major vacations, make gifts, and generally take it a bit easier. Sometimes they also want to become debt-free, assist aged parents, get a better car, help a charity. A few want to buy new life insurance and have the best of both worlds. Those who want at least $5 million might qualify for premium financing.
One important Senior Life Settlements strategy is to have all policies evaluated at the same time. In this fashion, each policy will receive its own set of bids, and the policy owner can decide which to sell and which to keep, or possibly get a package deal for them all. Each is a piece of property, similar to real estate in many ways.
Determining each policy's true market value is a logical and confidential process. The first step is to complete an application, without cost or obligation. Then, the Insured's medical records are obtained, and sent to a lifespan appraisal company. The insurance company verifies policy details and develops illustrations. All this information is shared with licensed Senior Life Settlements Funders, who then place competitive bids. If an offer is accepted, the Funder overnights a closing package to the policy owner, and funding takes place after all paperwork has been approved and processed. "The numbers will tell the policy owner what to do; there's never any pressure to sell."
American Viatical does not offer any investment products, such as "Viaticals," nor does it give legal or accounting advice. It is pleased to work with insurance agents, financial and estate planners, CPAs, attorneys, and stockbrokers on a referral basis.
About American Viatical
American Viatical is among the largest Internet-based Brokerages dealing with Viatical Settlements and Senior Life Settlements. Privately held and independent, American Viatical represents the policy owner, as does a real estate "Seller's Agent." Every policy is submitted to all appropriate Funders, in order to obtain the highest possible bids.
Source: American Viatical
Web site: http://www.american-viatical.com