Minimum Age For Life Settlements?
- Thread starter bitsdawg
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- life settlement
- 11,995
Really depends on the health. You have prospects lined up?
- Thread starter
- #3
Are you saying less healthy people could be younger? Sounds weird but I am sure life settlement companies would like to collect.
- 11,995
That's exactly what I'm saying. It's all based on life expectancy.
- 439
That's not completely true.
Minimum age is about 70 years old.
Minimum age is about 70 years old.
Insrecruit
New Member
- 3
minimum age is 76 and above most providers have the age bracket at 80 or above.
- 439
That's not accurate at all.
Any file you think may be a candidate, you should send to a provider for indicative pricing.
Today I was able to buy a file for 96K on a 73 year old- they were going to surrender the policy for 4K. Not a bad deal for the policy owner.
- 717
What was the face amount, life expectancies, etc?
This market is all but dead with the recent increases in life expectancies by 21st Services.
It's at a point now where very few cases make sense to pursue, life expectancies are so long, it's near impossible to do a conversion, sell policy and buy new coverage, let alone the fact that most transactions are now taking 4-6 months to complete.
This market is all but dead with the recent increases in life expectancies by 21st Services.
It's at a point now where very few cases make sense to pursue, life expectancies are so long, it's near impossible to do a conversion, sell policy and buy new coverage, let alone the fact that most transactions are now taking 4-6 months to complete.
- 439
I disagree - the market is very vibrant, even with the 21st extension. 21st is one of 4 main LE providers and there are still many people actively purchasing policies. I am aware of at least $1B of new capital entering the market for 2013 to purchase life settlements.
3-6 months is a normal transaction timeline, but its always been that long - not a new thing.
3-6 months is a normal transaction timeline, but its always been that long - not a new thing.
- 717
I call complete B.S. on the $1 billion figure...it's just not true.
There are not many active purchasers of policies currently....and a number of "providers" who are still purchasing policies are using the same source of capital to make these purchases.
The timeframe for completing transactions has absolutely increased, and additional requirements placed on insureds, agents, trustees, etc.. are burdensome to the point of not making transactions worthwhile in many cases.
There are not many active purchasers of policies currently....and a number of "providers" who are still purchasing policies are using the same source of capital to make these purchases.
The timeframe for completing transactions has absolutely increased, and additional requirements placed on insureds, agents, trustees, etc.. are burdensome to the point of not making transactions worthwhile in many cases.
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