An Alternative to Surrendering Your Insurance Benefits
An exit strategy for expensive or poorly performing life insurance policies that builds wealth for you.
For 35 years, attorney Alan Jay Ackerman has helped preserve wealth and provide experienced estate planning for Philadelphia area families with significant and multifaceted asset protection needs. Now, we can offer life settlement opportunities as a way to transfer life insurance policies as an assignable asset. This transfer can generate a significant return that you can put to use for your long-term plan.
Life settlements are an element in our broad approach to asset protection and estate planning. Contact us to put together a comprehensive and uniquely tailored plan for you, your family and your heirs.
Are Life Settlements an Option for You?
If you or a loved one is burdened with a life insurance policy that is expensive or is under performing, you may want to consider life settlements. Rather than surrendering the policy or allowing it to lapse — leaving a serious investment with almost no return — you may want to contact our offices to discuss life settlement options. The basic requirements for life settlements are as follows:
The insured is 75 years of age or older — or at least age 62 if he or she has serious health issues and a life expectancy of less than 12 years — and owns a life insurance policy with a face value of $500,000 or more.
- A policy is lapsing or being surrendered.
- A current life policy is too expensive.
- There is a need for new life insurance, annuities or long-term care.
- The insured has outlived the beneficiaries.
- There is an estate tax change.
- There is a change in the health status of the insured.
- There is a retiring key-man or a company/partnership selling.
Whether you need to consider life settlement as an option to relieve financial burdens or as a tool to fund a more appropriate life insurance policy, our founding lawyer can help you create a sound and responsible plan.
Contact the offices of Alan Jay Ackerman, Esquire, to discuss your insurance, elder law or estate planning needs.
- Life Settlements Brochure
- American Bar Association Benefits of Life Settlements
- Life Settlement Qualification Worksheet
