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  • Settlement Application The Life ... - Life Settlements

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ON - INSURED (PRINT OR TYPE) Insured s Name: Sex Male Female Date of Birth: SSN: Current Address: City: State: Zip: Telephone Numbers: Daytime: Evening: Marital Status: Single/Never Married Married Divorced.

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Settlement amount: Life settlements typically pay 10% – 25% of the total death benefit. Viatical settlements are often much larger, paying 50% – 85%, depending on your life expectancy.

That assumes a payout rate of 25%, the midpoint of the typical life settlement payout range of 20% to 30% of the policy's face value.

In most cases, an individual must be over 65 years of age to qualify for a life settlement. In some cases, if an individual is younger than 65 but has certain medical conditions, they may qualify.

If you have a policy with a high cash value and you don't need the coverage, it may be worth it to cash out. If you simply need access to cash, there may be better ways to come up with the money such as taking a policy loan. That way you still keep insurance protection for your heirs.

A life settlement, sometimes also called a senior settlement, involves selling an existing life insurance policy to a third party—a person or an entity other than the company that issued the policy. The policy holder (seller) receives an immediate payment from the third-party offering the settlement.

Cons: The lump sum payment you receive could be taxed as income. Accepting a life settlement could negatively impact any state or federal public assistance (like Medicaid) that you receive or are eligible to receive.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232