Who is eligible for a Life Settlement?
Each case is unique and circumstances vary, but in general people aged 62 and older. Contact us to speak with a settlement expert who will provide a recommendation specific to your situation.
Who is eligible for a Viatical Settlement?
Generally, to be eligible you must meet the criteria of ”terminally ill”, as medically defined, however we recommend that you contact us to determine if there may be special circumstances under which you may qualify.
What types of policies can be sold in a settlement?
Term, Whole Life, Universal Life, Key Person, Joint Life insurance.
What can I use the settlement funds for?
Paying medical bills, maintaining your independence, augmenting your retirement lifestyle, taking a trip, making a charitable donation…..there are no restrictions as to how you may use the funds.
Does my insurance company have to agree to a settlement?
No. The insurance policy is your asset, legally and contractually.
Does my current beneficiary have to agree to the settlement?
Assuming that your current beneficiary is a family member, having the cash from the transaction might benefit them as well; the cost of your care might impact their finances. In some cases, you may be able to leave your beneficiaries a smaller death benefit too.
How is my privacy protected?
HIPAA regulations, very similar to those of the health care industry apply.
How do I select a reputable settlement broker to sell my policy?
Look for a company that is established, experienced, Ardan is highly regarded in the industry and is known for offering their Best Value Settlement ℠.
Can I be turned down for a viatical settlement?
It’s possible, however, a company as knowledgeable and experienced as Ardan, will explore all options and alternatives that may be available for your particular situation.
Can I be turned down for a life settlement?
What's the difference between a settlement vs. surrendering my policy?
A policy may not have a cash surrender value. A settlement is always greater than a surrender value. And we use our expertise to obtain the Best Value Settlement ℠
What if I need some cash, but still need some life insurance?
Hybrid, a la carte options are available. With the hybrid option, the investor and seller can agree to some combination of a traditional and a retained death benefit.
What's the difference between a life settlement and 1035 exchange?
A 1035 exchange is a provision in the tax code which allows you, as a policyholder, to transfer funds from a life insurance, endowment or annuity to a new policy, without having to pay taxes.
How can I know if I am getting a fair price for my policy?
A life settlement offer is based on several metrics, including your age, health, policy size, and premium cost. The final economic calculations are based on actuarial principles and financial forecasting. Ardan gives their best value settlement based on these metrics and your particular situation.
Should I borrow against my policy instead of selling it?
When you borrow against your policy, you as the named insured receive a cash payout that is normally between 35 and 75 percent of the policy’s death benefit. This payout reduces the overall value of the life insurance policy but does not change the terms of your policy. At the time of your death, the lending company gets back the amount that they have provided to you as a loan plus interest and expenses such as payments they have made to your policy and the remaining balance of your policy’s value gets paid to your named beneficiaries.
Can I change my mind after I initiate the process?
If you change your mind about selling your policy, you can cancel the life settlement contract at any time up to the 15th day (30 days in some states) after you receive the money from the provider.
I received a life settlement payout proposal, but I am not happy with it. What can I do?
Contact the professionals at Ardan who are committed to giving you’re the Best Value Settlement ℠.
Is the life settlement industry regulated?
Yes. 90% of the U. S. population now falls under the protection of life settlement regulations in 42 states. Ardan ensures that your life settlement is in compliance with these regulations.