Case Studies
Here are actual cases handled by The Ardan Group that resulted in the client receiving the Best Value Settlement ℠.
Couple Uses Cash Settlement to Renovate Retirement Home.
Jack and Mary Anne, both in their late 60’s, dream of retiring to the west coast. The cost of housing in the area that they want to retire to is comparable to where they are now living. They use the proceeds from the sale of their home to buy a new house on the west coast, but have little cash left to renovate or to decorate their retirement home. Jack has a $500,000 life insurance policy that they no longer need, and receives $40,000 in cash to turn their new home into their dream retirement home.
Cash To Supplement Family Business Cash Flow.
A family Trust sold their two Life Policies in order to raise cash to supplement their cash flow in their family owned business. The Trust was going to surrender the two Life policies back to the insurance carrier for the cash value ($ 329,000.00) but when they discussed their options with their Insurance Agent, they learned about the possibility of a Life Settlement Transaction. The family’s business has been closed since March due to the Covid Virus. The family Trust received $1,250,000.00 cash in a Life Settlement transaction.
This case is a referral from client’s Social Worker.
Susan owns a $200,000 life insurance policy and is experiencing challenging financial issues as she deals with metastatic breast cancer and the mounting medical bills associated with her treatment. She can no longer afford the monthly premiums. Susan’s Social Worker contacted the Ardan Group and it was determined that she owns a policy which meets the criteria for a Viatical Settlement. We worked closely with Susan to make sure that all requirements and documents were completed in a timely fashion. Susan was ecstatic with the results of her Settlement. We were able to get Susan a Settlement in the amount of $95,000.00. Had Susan simply surrendered her policy to the insurance company for the policy’s cash value she would have only received only approximately $12,000.
This case is from an individual who contacted Ardan directly.
Irma was a 78-year-old grandmother, living in Massachusetts, whose daughter and grandchildren lived in California. She wanted to complete her bucket list which included purchasing a used car and driving across the country to enjoy the beauty of the land from coast to coast. This would also be a permanent move to enable Irma to spend her last days with her family. She owned a $75,000 life insurance policy for the past 30 years and no longer needed it. It was determined that Irma qualified for a Life Settlement and she received a Settlement in the amount of $33,000.00 which allowed her to cross off the final wish on her bucket list.
This case is a referral from client’s Life Insurance Agent.
Ken has owned his $350,000 term life insurance policy for nine years. Within the year he has to either convert the policy to a permanent policy and start paying exorbitant premiums or lapse the policy. Because he no longer has the need for the policy he was going to let the policy lapse. Thanks to Ken’s Life Insurance Agent and based upon Ken’s age and medical history, we determined that there was value for Ken to proceed with the Life Settlement application and process. The result was that Ken received a Settlement for $27,000.00.
This case is a referral from client’s Attorney.
Rich has been dealing with multiple medical issues, along with end stage cancer at age 58. He has been a practicing attorney for many years but has been unable to work for the past two years and, as a result, has spent down all of his savings. Rich owned a $2 million term policy. He was close to foreclosure on his home and desperate to provide for his young family. Rich made contact with his Attorney and was referred to Ardan Group for assistance. We determined that he qualified for a Viatical Settlement. Rich received an $800,000.00 dollar cash settlement plus a guaranteed death benefit in the amount of $300,000 which he will leave to his family.