“We specialize in a certain type of client. Typically, they are older and very successful,” says David Mickelson of Mickelson Capital Consulting.
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Oceanside, CA (PRWEB) July 8, 2010
Mickelson Capital Consulting, a leading insurance brokerage based out of Oceanside, California, enables seniors to unlock substantial cash value from their life insurance policies through life settlement.
A relatively new but well proven transaction that is still widely unknown to many seniors, life settlement is essentially the sale of personal property to a buyer. The life settlement transaction sells the policy to an investor who becomes responsible for all ongoing premiums and eventually receives the policy benefit upon death of the insured. With proceeds from the settlement, seniors can then use the money for other investments or buy new policies, often with more coverage and lower premiums.
“We specialize in a certain type of client. Typically, they are older and very successful,” says David Mickelson of Mickelson Capital Consulting. “In one particular case, we managed to save a client $228,000 (or 33%) in annual premiums through a life settlement and new policy solution. After the settlement, the client retained a $10,000,000 life insurance policy and $907,000 in cash proceeds. Needless to say, he was very pleased.”
Life settlement offers seniors a new option. Historically, when policy holders wished to exit a life insurance policy while still alive, there were only two options available: 1) stop paying and lose the investment of premiums paid or 2) surrender the policy back to the issuer for a cash sum that in most cases was a loss. Now seniors can choose to sell their policies in a life settlement on the secondary life insurance market.
First popularized in 2002, this type of settlement is available to seniors typically over the age of 70 who are not terminally ill or under any particular duress to sell. By selling their existing policies to institutional investors for large cash payments, seniors can enhance their financial standing, eliminate unreasonable premiums, and opt for new policies with better terms.
About David Mickelson Insurance Services:
As a premier life settlement broker and esteemed member of Life Insurance Settlement Association (LISA), Mickelson Capital Consulting (http://www.mickelsonlife.com) provides seniors and their advisors with a variety of professional financial services. By carefully evaluating each client's unique insurance situation, the firm's professional senior settlement brokers are successful in obtaining the most beneficial life settlements available. Based out of Oceanside, California, Mickelson Capital Consulting serves seniors nationwide, and offers a free life settlement and insurance evaluation.
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